Beazley, the London-based provider of specialist environmental liability insurance, has doubled its capacity for operational and fixed site environmental risks to $50 million.
Covering the environmental liabilities of large multi-national companies, the increased limits are backed by the Beazley Elements consortium of Lloyd’s insurers. Consortium members are Liberty Specialty Markets, Hiscox, Barbican and Antares.
Beazley said it covers a wide range of environmental risks including operational coverage for businesses that may face claims for polluting the premises of third parties; professional liability coverage for environmental consultants; protection for ongoing fixed site operations; contractor’s pollution liability; and brownfield site remediation.
Key target industries are the manufacturing, industrial, real estate, hospital and educational sectors. Coverage is available for international risks but most demand comes from U.S. buyers, explained a Beazley representative.
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