XL Catlin’s North America Environmental insurance business has introduced a new wholesale pollution and professional insurance policy designed to help U.S. trade contractors address their contractual obligations to provide environmental liability and professional liability protection.
In addition to professional liability coverage, the policy provides contractor’s with coverage for their pollution exposures at a jobsite, while transporting waste or materials from their operations and from a claim arising from waste or materials transported to a non-owned disposal site.
“Contractors of all sizes carry the risk of causing a pollution incident. Unfortunately, they don’t always carry the appropriate insurance or policy limits to address such incidents,” according to Matt O’Malley, president of XL Catlin’s North America Environmental insurance business. “While some contractors’ general liability insurance policies offer limited pollution coverage, this new policy extends that coverage to realistically address a pollution incident’s clean-up potential. Contractors increasingly see contractual requirements from their clients to carry professional liability coverage. Professional exposures for trade contractors can range from value engineering, field changes to design and in some cases, subcontracted or in-house design responsibilities.”
XL Catlin’s new wholesale Contractors’ Pollution and Professional Legal Liability Policy provides protection to cover the costs associated with an environmental clean-up, including such pollutants as mold on an occurrence basis. Additionally, a Renewal Certificate Endorsement is available to help provide a streamlined underwriting process at renewal.
Available through XL Catlin’s insurance companies and through wholesale brokers only, the new policy is available with liability limits up to $5 million. The coverage is specifically designed for trade contractors doing commercial work with revenues less than $50 million.
Was this article valuable?
Here are more articles you may enjoy.