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Member, Beacon International Group, Ltd.
Wholesale broker Northeast National Brokerage L.L.C. said Tuesday it has launched a Lloyd's-registered underwriting facility specializing in excess liability for the petroleum distribution industry that will offer $5 million in capacity for both lead and excess positions.
The risk will be placed with Lloyd's of London underwriters, including syndicates managed by London-based Chaucer P.L.C., a unit of Chaucer Holdings P.L.C., which is a member of the Hanover Insurance Group, and London-based Chubb Managing Agent Ltd., part of the Chubb Corp., Bloomfield, Connecticut-based Northeast said in a statement.
Exposures include those associated with the bulk plant, the delivery of product to homes and businesses, and the retail sale of motor fuel, according to the statement.
The underwriting team will be led by Northeast National Brokerage President Jack P. Kramer, the broker said in the statement.
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