New York, March 07, 2019 (GLOBE NEWSWIRE) -- Beazley has made significant enhancements to its market-leading environmental liability insurance policy ECLIPSE to offer robust and creative risk transfer solutions for businesses, landowners and real estate investors.
ECLIPSE provides environmental liability and pollution clean-up insurance, alongside risk management services that help control pollution risks associated with transactional and operational hazards, transportation, waste disposal and other associated exposures.
Following a thorough review of the coverage and clients’ needs in light of changing regulatory requirements and business practices, Beazley has broadened the coverage to include blanket pollution liability protection for non-owned locations and warehouses and distribution chains.
Also now included as standard in ECLIPSE is coverage for costs associated with business interruption and crisis response. These include:
- Fees for public relations support
- Medical and funeral expenses
- Psychological counselling
- Travel or temporary living expenses
- Security expenses
Jayne Cunningham, Beazley’s environmental focus group leader, said: “We have enhanced our flagship environmental liability solution ECLIPSE to offer richer coverage and stronger support to businesses, landowners and commercial property investors in the event of an emergency. As well as risk transfer, we want our clients to be able to access the resources they need to deal with a potential crisis associated with the discovery of contamination linked to their site.”
Beazley’s rapidly growing environmental team transacted more than $100 million in business in 2018. The relaunch of ECLIPSE follows expansion of the team’s product offering in February 2019 with the launch of site lender environmental asset protection (SLEAP) cover to protect banks and other lenders from pollution risks that could impair the value of property used as collateral for commercial loans.
Note to editors:
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia and Australia. Beazley manages six Lloyd’s syndicates and in 2018 underwrote gross premiums worldwide of $2,615 million. All Lloyd’s syndicates are rated A by A.M. Best.
Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business. [PR_050319_1]
For more information please go to: www.beazley.com
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