XL Catlin updates professional and pollution insurance policy
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XL Group Ltd., which does business as XL Catlin, said Monday that its North American environmental unit has updated its professional and pollution coverage for contractors and environmental consultants.
Among the new additions to the policy are: green building materials expense for use of green building materials in the restoration of property damaged as a result of a pollution condition; rectification expense to correct actual damages or prevent potential damages resulting from negligent acts, errors or omissions in covered professional services; protective loss coverage that provides indemnity in excess of the design professional’s insurance resulting from a negligent act, error or omission in DP services; and protective loss/pollution protective loss bankruptcy litigation expense indemnity for fees and expenses related to retaining bankruptcy counsel in the making of a protective claim or a pollution protective claim against a DP or subcontractor.
Matt O’Malley, president of XL Catlin's North American Environmental insurance business, said in a statement that the insurer has “made our coverage more inclusive, addressing more of the professional and pollution risks our clients are facing day-to-day, in one policy form.”
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