Mosaic Insurance Unveils Innovative Environmental Coverage
Specialty insurer Mosaic Insurance has introduced an exciting new environmental product that combines primary commercial general liability with an array of enhanced pollution and professional coverages. This groundbreaking solution is designed to address the evolving needs of businesses in various sectors.
Mosaic’s newly launched Site Pollution & General Liability (SGL) form is now accessible to both retail and wholesale brokers. It offers a comprehensive range of primary and excess coverage options, boasting up to $25 million in excess capacity. This unique combined offering integrates general, professional, and environmental liability risks into a single, global coverage form, which can be tailored to meet the specific needs and risk appetites of insured parties.
The SGL coverage is strategically designed to fill the gaps often encountered in traditional insurance placements. It provides robust protection against a multitude of risks across diverse sectors, such as manufacturing, processing, product distribution, and environmental consulting. According to Mosaic, the SGL form competes directly with standard casualty placements, offering significantly broader coverage while maintaining a financially competitive stance.
Key enhancements of the SGL coverage include worldwide product coverage, pollution incidents stemming from the insured’s operations and products, non-owned locations, and transportation-related risks. This comprehensive approach ensures that businesses receive protection that is both extensive and relevant to their specific operations.
Mosaic boasts a team of approximately 20 environmental specialists based in London and across the United States. Their suite of environmental policies spans a wide array of industries, including fixed-site operations, construction, and manufacturing sectors.
Jim Finnamore, the Global Head of Environmental Liability at Mosaic, remarked, “This initiative is a significant step towards our ongoing ambition to become the leading and most trusted environmental carrier in the market.”
Adding to this sentiment, Karen Reilly, Head of US Environmental Liability, stated, “These solutions offer comprehensive coverage for premises, operational risks, product-related exposures, pollution incidents, and professional liabilities. Our market-leading underwriting and claims teams are prepared to deliver the most thorough and innovative solutions for our broker partners and clients.”
Rob Stedman, the Senior Vice President of Environmental Liability, who oversees the SGL product, concluded, “We are incredibly excited about this new chapter in the expansion of our environmental liability product offerings.”
Source: Reinsurance News
