AXIS’ Environmental business unit has announced the launch of a Specialty Package Policy for manufacturers (SPPm). It offers an integrated environmental and general liability coverage for the manufacturing sector.
Exposures covered by the new policy include those associated with manufacturing, distribution, warehousing, and processing operations, as well as waste storage, treatment, and disposal facilities.
The SPPm is available for US-based manufacturing and distribution operations with revenues up to $2B. Coverage through this policy includes: ISO-based CGL including products and products pollution liability; non-owned site pollution liability; transportation pollution; premises pollution liability; employee benefits administration; emergency response expense coverage; and product withdrawal expense.
Rich Zarandona, Executive Vice President, Environmental, at AXIS commented: “This new, expanded environmental offering is part of our broader effort to provide enhanced capabilities and innovation to the specialty market.
“Manufacturers and distributors face a multifaceted risk environment and it’s therefore essential that the sophistication of their insurance coverage matches the complexity of their risk.”
Additionally, AXIS noted that a new excess policy (SPXm) will also provide excess liability coverage for manufacturers covering primary general liability, pollution, products pollution, excess auto and employers’ liability.
Mark Sielski, AXIS Environmental Group Lead, said: “As businesses’ general liability and environmental risks become more intertwined, it is no longer prudent to assess these liabilities independently. With SPPm, we’re excited to offer an integrated approach to our partners, enabling them to manage complex, specialist risk and coverage considerations in a simple, seamless and cost-effective manner.”
In addition, as part of a broader effort to build a dedicated team to support new products, AXIS hired Tom Kashickey as Lead Underwriter, Environmental Liability.
Kashickey commented: “AXIS has developed SPPm specifically for manufacturers, distributors and other select industries to support them as they manage a spectrum of risk associated with premises, products and pollution liability risk. We look forward to working with brokers to provide innovative solutions that address environmental risk.”
