XL Group upgrades professional and pollution insurance package

XL Group’s North America Environmental business has supplemented its professional and pollution insurance protection for contractors and environmental consultants.

The new package includes enhancements that offer 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, notes a July 17 statement from the global insurance and reinsurance company.

“We don’t have to look far for examples of how a simple mistake or untimely mishap can become a catastrophic pollution event,” Matt O’Malley, president of XL Group’s Environmental business in North America, noted in the statement. “When it happens, it makes headline news, ties up company resources and most certainly, results in expenses that few businesses expect or plan for,” O’Malley said.

The package – designed specifically to meet the needs of general contractors, trade contractors, construction managers, and environmental contractors and consultants – seeks to help clients “boost their financial and disaster preparedness for the unexpected, extraneous expenses that often accompany a pollution incident.”

The package adds additional protection to the company’s blanket and project-specific Contractor’s Pollution Legal Liability and Professional and Contractor’s Pollution Legal Liability Policies.

“These enhancements address the gaps in protection that we, our brokers and our clients have seen when responding to pollution incidents,” O’Malley said. “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.”

The pollution policies are provided by XL Group insurance companies, Indian Harbor Insurance Company and Greenwich Insurance Company.