Insurer to Offer Coverage to Small, Mid-Size Companies
XL Insurance, the global insurance operations of XL Capital Ltd., on Feb. 2 announced that its environmental division has launched a new commercial business unit dedicated to providing pollution coverages to small and mid-size businesses.
The new Environmental Commercial Business Unit is dedicated to handling pollution insurance requests for small to mid-size businesses, particularly in the construction and commercial real estate sectors, including retail and office properties, environmental services, and general goods warehouse sectors.
Head of XL Insurance's Global Environmental unit, Rich Corbett said: "In the event of a pollution incident, it does not matter if you are a three- person firm or a multimillion dollar business, an environmental cleanup can be costly."
"The size of a business, therefore, should not hinder its ability to find quality pollution coverage and tap into the environmental expertise that the market has to offer," Corbett added. "Businesses of all sizes need to aggressively manage their environmental exposures. To help agents and brokers effectively address their clients' environmental risk management concerns, this unit is making an aggressive service commitment with a streamlined new business quote process and a promise for quick turnaround. Even more important, we vow to provide individual attention, a person to talk to, when a client has pollution questions or concerns."