9 August 2016News

Endurance launches new suite of environmental liability products

Endurance Specialty, a Bermudian re/insurer, has introduced a range of environmental liability insurance products provided by Endurance Global Risk Solutions, which offer primary and excess coverage for single sites and property portfolios.

One product is the site environmental impairment liability product, which offers eight coverage choices and can be bought independently or together in an environmental liability programme.

The rest of the products include an owner-focused insurance programme offering environment liability protection for new development and a new excess environmental product.

The platform incorporates environmental liability and is initially concentrated on the real estate and hospitality, financial institutions and professional services industries in the US. It will be headed by Michael Chang, the chief executive officer of Global Risk Solutions.

“We have developed a state-of-the-art site specific environmental liability product with one of the broadest forms in the marketplace,” said Josh Pillion, senior vice president and environmental product leader.

“Further, we are the only market in the environmental insurance space that is focused specifically on industry verticals and can provide an integrated multi-line solution to our client base.

“Our specialists have deep technical knowledge of environmental exposures specific to these industries and can tailor our broad coverage options to the unique needs of each client."

Chang added: "With our new Global Risk Solutions platform, Endurance has built a holistic service model offering a broad range of products to clients in the industries where we have deep expertise.

“We are extremely pleased to add new environmental coverages, complementing the current suite of Endurance products and further enhancing our multi-line capabilities.

“With a combination of industry specialists and product expertise, we bring to each account dedicated underwriting, loss control and claims resources that truly understand and can address the exposures unique to our clients."

More on this story

29 March 2017   Sompo has completed its acquisition of Endurance Specialty Holdings after getting the green light from regulators. The company paid a total of $6.3 billion to acquire 100 percent of the outstanding ordinary shares of Endurance.
2 February 2017   Endurance Specialty subsidiary Blue Capital Reinsurance Holdings’ 2016 net income came to $14.3 million, down 31 percent on the $20.7 billion it made in 2015.
30 January 2017   Endurance Specialty Holdings has announced that its common and preferred shareholders have voted in favour of the proposed merger of Endurance with and into Volcano International, an indirect, wholly owned subsidiary of SOMPO Holdings (SOMPO).