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"Uninsured or underinsured subcontractors can negatively impact your insured's business in the event of a pollution loss," explained
Matt O'Malley, President of XL Group's Environmental business in
North America. "Some businesses find it hard to believe their work activity can pose a risk to the environment. But when a piece of their equipment springs a fuel leak or their excavation activity spreads underground contamination, they better believe that they will be held financially responsible to clean it up."
According to Matt, this new endorsement is specifically designed for general contractors, trade contractors, as well as environmental contractors and consultants. It
enhances the existing suiteof XL Group's Contractor's Pollution Legal Liability and Professional and Contractor's Pollution Legal Liability Policies and adds protection for the insured against uninsured and underinsured subcontractors whose work results in a pollution condition on a job site but may not have any or enough environmental insurance to meet their clean up obligations.
"Contractors rely on their subcontractors to perform a much-needed service but they certainly don't want to assume the cost of an environmental clean up on their behalf if adequate pollution coverage isn't part of their subcontractor's insurance program," said Matt. "Our subcontractors excess and DIC helps contractors fill in the pollution insurance gaps that may exist or lack of pollution coverage altogether."
XL Group's policies are provided by XL Group insurance companies, Indian Harbor and Greenwich Insurance Companies. Each XL Group policy is also delivered with dedicated environmental risk consulting and claims handling services which include consultations to help prevent pollution mishaps, assess to pre-approved remediation consultants and emergency response assistance in the event of an incident.