XL Insurance, the global insurance operations of XL Group plc, has unveiled a new Electronic Data Destruction coverage enhancement developed exclusively for e-waste recyclers.
“In the US alone, an estimated 400 million electronic units are discarded each year, creating an ever-growing stream of e-waste,” according to Rich Corbett, president of XL Insurance’s North America Environmental operations. “As many electronics contain lead, mercury, cadmium and other pollutants, it’s an environmental issue of growing concern, prompting many states to take action. Some 24 states have adopted e-waste legislation banning the disposal of such items in the waste stream. While these laws present business opportunities for recyclers, these businesses have to be prepared and properly protected to take advantage of them because in addition to toxic chemicals, discarded electronics may also contain individuals’ or business’ proprietary information that also has to be handled appropriately.”
“Through this coverage endorsement, XL Insurance offers a layer of privacy liability protection,” said Corbett. “Not only does this coverage protect an e-recycler but it also provides an added layer of confidence to their customers who are assured that their electronic data will be properly destroyed in the recycling process.”
XL Insurance’s new enhancement adds electronic data destruction coverage to XL Insurance’s Pollution and Remediation Legal Liability (PARLL) policy. The endorsement provides e-waste recycling companies with third-party coverage against claims resulting from an act, error or omission by reason of a theft, unintentional disclosure, misappropriation, misuse or mishandling of personally identifiable information contained within electronic data that is in the recycler’s possession for electronic data destruction.
In addition to Pollution and Electronic Data Destruction protection, XL Insurance offers general liability, automobile, workers compensation, umbrella and property coverages to the recycling industry.
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