Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has established a new business unit to extend environmental liability insurance capabilities to a wider range of industries in the U.S. market.
Sompo International will offer tailored monoline environmental liability coverage programs on a primary or excess basis for insureds interested in expanding their insurance relationship with Sompo International.
Products will include a comprehensive Site Environmental Impairment Liability insurance policy, which will include eight different coverage features that can be purchased individually or in its entirety, a contractors pollution liability insurance policy that can be structured on a practice or project basis under an owner/contractor controlled insurance program, and an environmental excess follow-form product that will provide additional capacity for monoline pollution policies.
Josh Pillion, senior vice president, Environmental Product leader for Sompo International, will lead the expansion of the company’s environmental liability capabilities.The new unit will complement the company’s broad insurance product offerings with additional dedicated underwriters, risk control and claim professionals aligned with the company’s U.S. Insurance teams. Products will be distributed through a network of specialty environmental brokers within Sompo International’s U.S. retail network as well as through select appointed wholesale brokers.
Sompo International Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc.
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