STAMFORD, Conn., Feb. 3 /PRNewswire-FirstCall/ -- American Wholesalers Underwriting, Ltd., a specialized program administrator, today announced the availability of environmental insurance coverage in its "Wholesalers' Insurance Program," or WIP, a comprehensive insurance program targeting the durable and non-durable goods wholesale distribution industry.
American Wholesalers Underwriting, Ltd. has partnered with the XL Insurance's Environmental group to create an environmental insurance program specifically designed for wholesalers providing coverage for pollution liability and clean-up expenses including remediation expense, bodily injury and property damage, and legal defense for pollution conditions resulting at or from an insured warehouse or distribution center. The coverage is provided by XL Insurance's Greenwich Insurance Company, one of the member insurers of the XL Capital Ltd group of companies. XL Insurance's Environmental group has more than 25 years of experience in underwriting, risk management and claims management of environmental risks.
According to American Wholesalers Underwriting Chief Operating Officer John Shea, "Warehouses and distribution centers are often tasked with storing or moving products that could pose pollution risks. Therefore, not only do they have to pay close attention to the proper storage and handling of possibly harmful materials, they need to protect themselves from the costs associated with cleaning up a spill or other environmental incidents."
Common environmental risks faced by warehouses and distribution centers include:
-- Spills or leaks during the loading or unloading of materials from trucks and railcars
-- Contamination as a result of a fire at the facility -- Waste from on-site vehicle or forklift maintenance and storage -- Gradual leaks from containers stored at the facility
"Environmental incidents tend to be high cost events that can severely impact a wholesaler's profitability," said Mr. Shea. "This program offers wholesalers an affordable option to enhance their environmental risk management efforts with insurance that can help quickly and effectively address an environmental incident should it occur."
WIP is a national insurance program designed to meet the needs of the durable, non-durable, and food distribution industries. In addition to environmental insurance coverage, XL Insurance's North American Program group provides WIP with property, inland marine, auto, general liability, and umbrella coverages with numerous industry specific extensions. Workers' compensation is also available. These industries encompass a broad scope of Standard Industrial Classifications ranging from 5000-5199 including motor vehicle supplies, industrial supplies and equipment, material handling equipment, metal services, electrical and plumbing, hardware, and food and beverage distributors. Available in all 50 states, coverages and limits are tailored to meet individual distributor's specific risk management needs.
ABOUT AMERICAN WHOLESALERS UNDERWRITING
American Wholesalers Underwriting, Ltd. is an experienced program administrator and underwriter that serves retail insurance agencies nationally. Notably, through its WIP programs it has written insurance products for the durable and non-durable goods distribution industry for over 15 years. For more information, please contact John Shea, COO, at John.Shea@AWUL.com.
ABOUT XL Insurance
"XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance is available at www.xlinsurance.com. XL Capital Ltd, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at www.xlcapital.com.
Contact: John Shea WIP 203-322-6924 John.Shea@AWUL.com
SOURCE XL Insurance
|SOURCE XL Insurance|
Copyright©2010 PR Newswire.
All rights reserved