Mosaic Insurance Launches Comprehensive Environmental Coverage
Mosaic Insurance has recently unveiled a groundbreaking environmental insurance product that combines primary commercial general liability with pollution and professional liability coverage. This innovative offering aims to meet the diverse needs of businesses facing environmental risks while streamlining their insurance processes.
Introducing the Site Pollution & General Liability (SGL) Form
The new Site Pollution & General Liability (SGL) form is designed to provide both primary and excess coverage, featuring an impressive $25 million in excess capacity. This product is accessible to retail and wholesale brokers, delivering a comprehensive insurance solution that encompasses general liability, environmental liability, and professional liability under a single worldwide coverage form. The SGL policy can be customized to align with the specific requirements of each insured entity, ensuring tailored protection.
Addressing Gaps in Traditional Insurance
Mosaic’s SGL coverage is strategically developed to fill the gaps frequently encountered in conventional insurance placements. It caters to a wide array of sectors, including manufacturing, processing, product distribution, and environmental consulting. By offering broader coverage than standard casualty placements, the SGL policy ensures that businesses are better protected against potential environmental liabilities.
Comprehensive Coverage Features
The SGL policy provides worldwide protection for products and pollution incidents arising from the insured’s operations. It also covers non-owned locations and transportation, which are critical aspects for many businesses. As Karen Reilly, Mosaic’s head of US environmental liability, states, "These solutions comprehensively cover premises, operational, product, pollution, and professional exposures." This holistic approach to coverage underscores Mosaic’s commitment to providing robust insurance solutions.
Expert Team and Tailored Solutions
Mosaic Insurance boasts a dedicated team of 20 environmental specialists located in both London and the US. This team is adept at crafting tailored insurance solutions that address the evolving risks within various industries, including fixed-site operations, construction, and manufacturing. The company’s proactive stance on environmental liability is evident in its continuous expansion of offerings to meet the changing landscape of risks.
A Global Leader in Environmental Insurance
Mosaic underwrites on behalf of nearly 30 insurers worldwide, led by its Lloyd’s Syndicate 1609. In addition to environmental liability, Mosaic’s specialty lines encompass political violence, transactional liability, cyber, political risk, financial institutions, and professional liability. This diverse portfolio positions Mosaic as a trusted partner for brokers and clients globally, enabling them to navigate complex insurance challenges.
The Future of Environmental Liability Insurance
Rob Stedman, Senior Vice President of environmental liability at Mosaic, expressed enthusiasm for the launch of the SGL product, stating, "We are extremely excited for this next chapter in the expansion of our environmental liability product offering." This sentiment reflects the company’s commitment to innovation and leadership in the environmental insurance sector.
Conclusion: A Step Forward in Environmental Insurance
Mosaic Insurance’s introduction of the SGL form marks a significant advancement in environmental liability coverage. By integrating comprehensive protection into a single policy, businesses can now navigate their environmental risks with greater confidence. As the insurance landscape continues to evolve, Mosaic remains at the forefront, ready to provide creative and effective solutions for its clients.
For more information on environmental insurance and related topics, consider visiting the Insurance Information Institute or the Environmental Protection Agency.