20 August 2014News

Argo launches US water-related specialty product

Alteris Insurance Services, a wholly-owned subsidiary of Argo Group, has launched a new specialty insurance program for large water-related entities in the contiguous US (excluding Alaska and Hawaii).

Alteris’s new specialty insurance coverage will provide protection to large water-related facilities (water, sewer, reclamation and irrigation districts)—up to $11 million in capacity—against property and liability losses that can result from the treatment, storage and distribution of water. The new program will be managed through Alteris Public Risk Solutions, a division of Alteris that provides specialty insurance products and services to governmental entities and self-insured governmental pools.

“Large water-related entities continue to deal with increasingly complex risks in their day-to-day operations, yet traditional insurance products available in the market today are still falling short,” says John Atherton, senior vice president and general manager of Alteris Public Risk Solutions. “To keep pace with the evolving risk management demands of this unique business class, we’re looking forward to teaming up with Alteris to deliver a totally-customizable specialty insurance solution that responds to actual—not assumed—needs for such specialized protection.”

“We are pleased to announce this exciting new program for large and complex water-related entities that participate in their own risk bearing,” says Paul Fuller, senior vice president of underwriting at Alteris. “In partnership with our dedicated public risk solutions practice, Alteris is well positioned to leverage its specialized knowledge base to provide ongoing education, customer support and other valued-added services—efforts that we’re confident will help to deepen relationships with brokers and insureds alike over the long term.”