Marsh, an insurance broker and risk adviser, has launched ChemPreferred, a customized package of policies that offers broad insurance protection for midsize chemical companies in US.
The insurer said that the ChemPreferred solution offers broad terms and conditions on comprehensive casualty, property, and environmental insurance coverages. Other lines of insurance, including directors’ and officers’ liability, foreign casualty, and cargo, also can be written into the package.
The ChemPreferred solution is available to US chemical and processing companies with annual sales between $25m and $500m.
According to the Marsh, the ChemPreferred provides clients with a single resource for all insurance needs, and access to its network of experts and placement specialists.
Marsh North American chemical industry practice leader Fabrice Lebourgeois said that given the nature, complexity and sheer number of risks chemical companies face today, securing broad insurance protection should be a top priority for any company operating in the chemical sector.
"With ChemPreferred, midsize organizations not only have access to broad coverage from an insurance advisor that understands chemical risks, but they also gain economies of scale, which should result in lower premiums," Lebourgeois said.