AXA XL expands environmental coverage in North America

18-06-2019

AXA XL has expanded the coverage in its pollution and remediation legal liability (PARLL) policy in North America. 

PARLL provides protection to owners, operators and developers of fixed facilities against loss, remediation expense and legal defence expense, for sudden and gradual pollution conditions. 

Matt O’Malley, president of AXA XL’s North America environmental business, said move was part of a broader effort to streamline the underwriting process and offer more comprehensive coverage. 

“Pollution incidents, for any size business, across many different industries, can easily result in a five or six-figure clean up price tag. That’s why environmental insurance has become more of a staple in businesses’ insurance portfolios,” he said.   

The enhanced offering includes location coverage for third-party claims for bodily injury, property damage and remediation expense resulting from pollution; emergency remediation expense indemnity for remediation expense incurred because of pollution; contingent transportation for third-party claims for bodily Injury, property damage and remediation expense resulting from pollution; and non-owned disposal sites for third-party claims for bodily injury, property damage and remediation expense resulting from pollution.   

It also adds new supplemental coverage for disaster response expenses, green building materials expenses, litigation expense indemnity and subpoena expenses.

 

AXA XL, Matt O’Malley, Pollution and remediation legal liability

Bermuda Re