Mosaic Insurance Introduces Comprehensive Environmental Coverage
Mosaic Insurance has recently unveiled a groundbreaking insurance product designed to meet the evolving needs of businesses facing environmental risks. The new Site Pollution & General Liability (SGL) form combines primary commercial general liability with an extensive suite of pollution and professional coverages, providing a holistic solution for various industries.
What is the Site Pollution & General Liability (SGL) Form?
The SGL form offers both primary and excess coverage options, including supported and unsupported capabilities, with an impressive $25 million in excess capacity. This innovative product is available to both retail and wholesale brokers, making it accessible to a broad range of clients in need of comprehensive protection.
Key Features of the SGL Coverage
The SGL coverage is designed to bridge the gaps often found in traditional insurance placements, offering robust protection for a diverse array of risks across multiple sectors. Key features include:
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Comprehensive Coverage: The SGL form integrates general liability, environmental liability, and professional liability hazards into a single, customizable worldwide coverage option. This allows businesses to tailor their insurance policies to fit specific needs and risk appetites.
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Global Protection: The coverage extends to pollution incidents arising from an insured’s operations and products, as well as non-owned locations and transportation. This global reach ensures that businesses are protected no matter where they operate.
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Industry Versatility: The SGL form is particularly beneficial for industries such as manufacturing, processing, product distribution, and environmental consulting. It competes directly with standard casualty placements, offering more comprehensive coverage while maintaining financial competitiveness.
Expert Insights from Mosaic Insurance
Jim Finnamore, the global head of Environmental Liability at Mosaic, emphasized the company’s commitment to becoming a leading and trusted environmental carrier. He stated, “This builds towards our continuing goal to be the top, most trusted environmental carrier.”
Karen Reilly, head of US Environmental Liability, added, “These solutions comprehensively cover premises, operational, product, pollution, and professional exposures.” This reflects Mosaic’s dedication to providing insurance solutions that address the complexities of modern business operations.
Mosaic’s Expertise in Environmental Insurance
Mosaic Insurance boasts a team of around 20 environmental specialists located in London and across the United States. Their expertise spans a wide range of industries, including fixed-site operations, construction, and manufacturing. This specialized knowledge allows Mosaic to offer tailored policies that effectively mitigate environmental risks.
The Bermuda-based company underwrites on behalf of nearly 30 insurers globally, led by its Lloyd’s Syndicate 1609. In addition to environmental liability, Mosaic offers a variety of specialty lines, including political violence, transactional liability, cyber risk, political risk, financial institutions, and professional liability.
Why Choose Mosaic Insurance?
Choosing Mosaic Insurance means opting for a provider that understands the intricacies of environmental risks and offers comprehensive solutions to protect businesses. Their innovative SGL form not only addresses traditional liability concerns but also encompasses the unique challenges posed by environmental factors.
For more information about Mosaic Insurance and their offerings, visit their official website here.
Final Thoughts
As businesses navigate an increasingly complex landscape of environmental regulations and risks, the introduction of the Site Pollution & General Liability form by Mosaic Insurance represents a significant advancement in the insurance sector. By combining essential coverages into one comprehensive product, Mosaic is poised to meet the diverse needs of its clients and help them thrive in a challenging environment.
To stay updated on the latest in insurance products and environmental coverage, consider following industry news from trusted sources like the Insurance Journal and Insurance News.
In summary, Mosaic Insurance’s new SGL form not only enhances coverage options for businesses but also positions the company as a leader in environmental liability insurance. With a focus on comprehensive protection and expert support, Mosaic is set to redefine how businesses approach their insurance needs in the face of environmental challenges.