Source: http://commerciallines.insurance-business-review.com, June 19, 2013
Global insurance and reinsurance company XL Group’s Environmental business has rolled out a new pollution insurance protection policy for airports’ fixed base operators, which will addresses on-site pollution incidents, including incidents due to noise pollution.
Explaining the launch of new offering, XL Group North America environmental business president Matt O’Malley said that each industry has their own different environmental liability concerns.
“Fixed Base Operators face a number of environmental exposures specific to their work at an airfield,” Matt added.
“Our policy can be customized to recognize these exposures whether they are specific to hangers, fuel tanks, or aircraft fueling.”
The new policy offers protection for disaster response expense, including advisory costs, medical expenses, travel, temporary living, among other coverages and contractors pollution legal liability to provide coverage for contacting operations across the airport.
It also offers protection for financial responsibility for tanks and pollution and remediation legal liability to cover remediation and legal expenses as well as costs related to third-party bodily injury and property damage.
Designed to address environmental exposures of fixed base operators, the new policy can be customized to the individual needs of international, regional, municipal and privately-owned airports.
XL Group, through its subsidiaries, offers property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises across the globe.