Pen Underwriting, the UK’s lead agent, has announced a new UK long-term capacity agreement with Zurich Insurance in the specialist area of hazardous industries and tankers, building on a strategic partnership of constant capacity supply dating back more than 30 years .
Under the agreement, Zurich will offer more than £ 165 million (US $ 224.7 million) in premium over the next five years for the offer of Pen’s Hazardous Goods and Environmental Industries. Pen’s products in this area are tailored to the specific needs of different segments of the high-risk transportation and distribution sector, such as fuel and oil companies, chemicals, lubricants, LPG, liquid waste and industrial cleaning, as well as non-hazardous tenkwa. operators.
Pen said the new agreement emphasizes its commitment to servicing and supporting businesses in the hazardous, environmental and bulk liquid industries, where expertise in risk management and loss mitigation services combines insurance protection to provide brokers and their clients with market-leading offerings, direct access to experienced persons. technical underwriters and built-in extras, including 24/7 emergency shower.
“We are very pleased to ensure Zurich’s continued long – term commitment in support of our UK fleet insurance solution in this highly specialist market,” said Adam Shefras, Managing Director of Hazardous Goods & Environmental Industries at Pen Underwriting.
“Given the current background of market challenges, the strength and longevity of our partnership with Zurich, our decades of experience and close relationship with industry institutions, it enables us to provide brokers and their clients with much-needed consistency, appropriate protection and long-term offer. sustainability in a sector that must be able to manage catastrophic losses. ”
“Our long-term partnership with Pen Underwriting and the mutual commitment to keep the UK’s hazardous and environmental industries going is one we are very pleased to continue to build on,” said Zurich Strategy Manager Kevin Morton.
“Pen’s sector expertise, underwriting discipline, claims service, providing timely and accurate data and continuous drive to improve all aspects of the portfolio continue to make it an important and attractive distribution opportunity for Zurich and a highly valued partnership,” Morton added.
Source: Pen Underwriting
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