JLT Re completes Environmental Liability Consortium at Lloyd's
10 September 2011
JLT Re is pleased to announce it has completed the first ever Environmental Liability Consortium at Lloyd's. With the leading capacity and expertise of Chubb Syndicate 1882 plus Ace Syndicate 2488 it has been possible to generate limits to underwrite this specialised product for Worldwide exposures. The Consortium has been created to meet the demand for higher levels of environment impairment liability (EIL) coverage and to provide, within the Lloyd’s environment, a unique facility for syndicates and brokers for this class of insurance.
Led by Chubb and Ace the Consortium will provide:
- Capacity of up to USD 65,000,000 (moving to USD 75,000,000 in 2012) for any one risk in the aggregate, backed by Lloyd’s security
- Worldwide (ex-USA) cover for environmental exposures for businesses based in territories where Lloyd’s is licensed – targeting in particular emerging markets such as Central Europe, Latin America, South Africa and Asia
- Access to a ‘one-stop shop’ Lloyd’s facility which can provide broad coverage for environmental risks on an annual basis for fixed site policies and up to three years of cover for contractors’ project business
The Consortium is open for any Lloyd's broker to access and JLT Re have been appointed to administer the Consortium.
For full information please see the attached Environmental Liability Consortium at Lloyd's
For any queries please contact:
One America Square
London EC3N 2JL
Tel: (020) 7466 1489
About JLT Re
JLT Re is a trading division of JLT Reinsurance Brokers Limited, a dedicated reinsurance broking and consultancy company, Registered Office: 6 Crutched Friars, London EC3N 2PH. Registered in England No.1679424, authorised and regulated by the Financial Services Authority and accredited by Lloyd’s. JLT Reinsurance Brokers Limited is a wholly owned subsidiary of the Jardine Lloyd Thompson Group and provides reinsurance broking services and risk management advice to some of the world’s leading insurance and reinsurance companies.
Head of Communications & Marketing, JLT Re