Agency offers U.K., European recycling firms coverage
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London-based underwriting agency Solon Underwriting Ltd. has launched to service recycling firms in the United Kingdom and other European markets.
The agency offers property damage and business interruption policies with limits of up to €7.5 million, or $7.9 million, a Solon spokesman said.
The coverage is underwritten by Navigators Group Inc.’s Lloyd’s of London syndicate 1221, Solon said in the statement.
Solon is headed by Managing Director Bill Adamson, previously the director of London-based FCO Intermediaries Ltd., an insurance and reinsurance broker focused on the European recycling industry, according to the spokesman.
“The capacity shortage has seen companies faced with products not specifically designed for the sector, some capacity from poorly rated underwriters, and clients sometimes simply having to self-insure,” Mr. Adamson said in the statement. “We work with specialist brokers in the sector, identifying what their clients need, and we provide a range of cover.”
Solon, which was launched in conjunction with London-based Ambant Underwriting Services and Guernsey-based Heritage Group Ltd., is currently developing liability and machinery breakdown coverages, the spokesman said.
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