AXIS Insurance, the insurance arm of AXIS Capital Holdings Limited, has partnered with DUAL North America, the underwriting division of Hyperion Insurance Group, to develop an environmental risk product offering for contractors, consultants and engineers in the U.S.
Under the terms of the partnership, DUAL North America will operate as a managing general agent (MGA) on behalf of AXIS to distribute and underwrite a suite of multi-product environmental coverages.
The offering will be targeted at small and mid-sized businesses working on projects associated with the removal of underground storage tanks, abating asbestos, and remediating contaminated soil, among other specialised environmental services.
“As the environmental risk market grows, small and mid-sized businesses need versatile solutions to safeguard against pollution-related risks within the increasingly changing environmental landscape,” said Richard Zarandona, Executive Vice President of Design Professional, Environmental and Surety at AXIS Insurance.
“DUAL North America is one of the leading MGAs in this market, and we are proud to partner with them to provide businesses, consultants and contractors with more flexible environmental coverages,” he continued.
Dean Cross, Executive Director of DUAL North America, also commented: “DUAL North America is delighted to partner with AXIS, one of the leading carrier partners within the environmental risks marketplace.
“The decades of collaborative underwriting experience of DUAL and AXIS yield a robust offering for wholesale trading partners within the environmental risk industry, while providing sophisticated coverages to insureds.”
