EXTON, Pa., July 17, 2013 /PRNewswire/ -- XL Group's North America Environmental business has supplemented its professional and pollution insurance protection for contractors and environmental consultants, unveiling a new package of enhancements that offers mediation credits, disaster response coverage, green building restoration costs, as well as legal expenses and litigation and subpoena expense coverage outside the limits of liability.
"We don't have to look far for examples of how a simple mistake or untimely mishap can become a catastrophic pollution event," according to Matt O'Malley, President of XL Group's Environmental business in North America. "When it happens, it makes headline news, ties up company resources and most certainly, results in expenses that few businesses' expect or planned for. Our new enhancement package helps our construction and environmental services clients boost their financial and disaster preparedness for the unexpected, extraneous expenses that often accompany a pollution incident."
Designed specifically to meet the needs of general contractors, trade contractors, construction managers, as well as environmental contractors and consultants, XL Group's Contractors and Consultants Policy Enhancement Package adds additional protection to XL Group's blanket and project-specific Contractor's Pollution Legal Liability and XL Group's Professional and Contractor's Pollution Legal Liability Policies. Available package enhancements include coverage for:
- Legal Expenses outside the Limit of Liability
- Litigation and Subpoena Expense Outside the Limit of Liability
- Mediation Credit
- Disaster Response Expense
- Green Building Restoration Costs
"These enhancements address the gaps in protection that we, our brokers and our clients have seen when responding to pollution incidents, but are missing from most available environmental coverages today," explains Matt. "They take into account the additional expenses that a contractor can incur from a pollution incident. While these costs may seem like small expenses at first, they can add up quickly and impact a company's bottom line."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV