ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, launched ACE Green CPLSM , a contractors pollution liability program.
The new program will help address the growing risks and potential exposures faced by contractors as they begin to access federal stimulus dollars and experience increased construction activity, the company said.
The green-specific insurance program is designed to cover contractor and sub-contractor environmental and pollution-related exposures. The product can also be tailored for Leadership in Energy and Environmental Design (LEED)-certified building projects as an Owner-Controlled Pollution Insurance Program (OCIP); a Contractor-Controlled Pollution Insurance Program (CCIP); or a standalone Contractors Pollution Liability Project placement.
The ACE Green CPL program is available to producers through the ACE Environmental Risk underwriting team. Risk engineering for these policies includes environmental audits and assessments by Hygienetics, an environmental consulting subsidiary of ESIS, Inc., a risk management services company, and part of the ACE Group of Companies. ESIS and Hygienetics also offer a full range of environmental consulting services.
William P. Hazelton, senior vice president, ACE Environmental Risk, said, “With the new resources provided through the American Recovery and Reinvestment Act, contractors who are awarded stimulus grants will be required to incorporate green elements as part of new construction and renovations to existing commercial and residential buildings as well as construction related to renewable energy projects.:
Some product highlights include:
• Expanded insuring agreement, which includes automatic coverage for transportation exposures and completed operations
• Coverage available for fungi and legionella pneumophila
• Option for blanket non-owned disposal sites coverage
• Limits available up to $50 million
• Premium discounts for LEED-certified building projects
• Total policy term of up to thirteen years, including both project period and completed operations
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