Starr Companies has launched its new product, Enviro-Wrap insurance, in Canada. The coverage provides wrap-up liability and contractor’s pollution liability for construction project specific placements, covering either the owner or the contractor. The modular occurrence-based policy is designed to eliminate coverage gaps common in wrap-up programs.
Hano Pak, chief agent and country executive, said Enviro-Wrap provides insurance protection to clients such as project owners, lead contractors and financiers from losses, including the financial consequences of potential project delays.
The coverage will be eligible for project contract values of up to CAN$250 million, offered on an Owner’s Controlled Insurance Program (OCIP) / Contractor Controlled Insurance Program (CCIP) basis and for trade contractors for policy periods up to five years. In addition, Starr can add coverage for transportation, above ground storage tanks and mobile fuel tanks to the policy.
Starr Companies (or Starr) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance.
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