To target engineering, consulting, project management and contracting/remediation firms that provide environmental services
Beazley Group, a underwriter of professional liability, management liability and commercial property exposures, has launched two environmental insurance products to meet the evolving needs of the environmental services industry.
The company said that its two new versions of the ENVIRO Media Tech form on a non-admitted basis, that are Environmental & Professional Liability and Environmental Liability Protection.
According to the company, the Environmental & Professional Liability product focuses on privately held firms with revenues of up to $100m. It provides professional liability protection that covers professional services along with environmental protection that covers contracting operations, premise, transportation and disposal activities.
In addition, Beazley’s Environmental Liability Protection policy provides commercial general liability coverage for firms seeking a solution to address operational, environmental and professional risks in one policy. This product targets environmental and engineering services firms with revenues under $10m.
The company claims that its environmental risk products complement a number of other lines of business in which the group has a well established position and reputation. The target market for both products is engineering, consulting, project management and contracting/remediation firms that provide environmental services.
John Beauchamp, a senior underwriter at Beazley, said: These are our first environmental products, but we have others planned. In 2010 we will launch products that address the environmental risks run by general contractors and property owners with fixed site environmental exposures.