Liberty International launch environmental unit
Liberty International Underwriters Europe (LIU Europe) has launched a new environmental impairment liability underwriting unit to cover the UK, Ireland, Continental Europe and the Middle East.
The company, which is a London-based subsidiary of US insurance giant Liberty Mutual Group, says the division will underwrite a wide range of environmental risks.
In doing so it will develop new policy wordings to provide cover for a range of exposures including the Environmental Damage (Prevention and Remediation) Regulations 2009, which will become law in England on 1st March.
The new legislation implements the European Directive on Environmental Damage, whereby the polluter is responsible for remedying environmental damage, rather than the taxpayer.
The LIU team, which includes underwriters, Duncan Spencer, Marcus Drew and Alan Grayston, will work closely with the firm’s existing casualty operation and Liberty’s US based EIL division.
LIU Europe’s chief executive, Sean Rocks, believes environmental issues are at the forefront for many businesses and says the expansion will give clients comprehensive coverage for pollution liability, while at the same time demonstrating commitment to a “new and dynamic market place”.
Category: Business Insurance News, Companies News, Insurance News
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