XL Insurance Unveils Environmental Insurance Program for Warehouses and Distribution...

XL Insurance Unveils Environmental Insurance Program for Warehouses and
Distribution Centers

EXTON, Penn., Aug. 5 /PRNewswire-FirstCall/ -- XL Insurance, XL Capital
Ltd's global insurance operations, today announced the availability of a
specialized environmental insurance program that addresses pollution liability
and clean-up expenses for US warehouses, storage and distribution facilities.
Underwritten by Greenwich Insurance Company and Indian Harbor Insurance
Company, the environmental insurance policy provides coverage for remediation
expense, bodily injury and property damage, and legal defense for pollution
conditions resulting at or from the insured warehouse or distribution center.
Both companies are member insurers of the XL Capital Ltd group of companies.
"While environmental incidents tend to be low frequency events for
businesses, when they do occur they can be high cost events that can severely
impact a company's profitability," said Rich Corbett, head of XL Insurance's
Global Environmental Insurance unit.
"Tasked with storing products that can often pose pollution risks,
operators of warehouses and distribution centers often pay close attention to
the proper storage and handling of possibly harmful materials to prevent such
incidents," said Mr. Corbett. "Likewise, as a result of what they have
witnessed or read in news reports, warehouse operators have a growing concern
about the potential pollution conditions that could stem from products stored
at their facilities if they suffer a catastrophic event such as fire, flood or
windstorm."
"With XL Insurance's new environmental insurance program, warehouse and
distribution center operators have an affordable option to enhance their
environmental risk management efforts with environmental insurance that can
help to quickly and effectively address an environmental incident, should it
occur," Mr. Corbett added.
Common environmental risks faced by warehouses and distribution centers
include:
-- Spills or leaks during the loading or unloading of materials from
trucks and railcars -- Contamination as a result of a fire at the facility
-- Waste from on-site vehicle or forklift maintenance and storage
-- Gradual leaks from material containers stored at the facility

"This is particularly worthwhile coverage for facilities when they realize
the limited environmental insurance coverage that their general liability (GL)
insurance offers," said Mr. Corbett. "Most GL policies offer very limited or
no environmental insurance coverage at all as a result of policies' absolute
pollution exclusion."
About XL Insurance
"XL Insurance" is the global brand used by member insurers of the XL
Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance
is available at www.xlinsurance.com. Through its operating subsidiaries, XL
Capital Ltd is a leading provider of global insurance and reinsurance coverage
and services to industrial, commercial and professional service firms,
insurance companies, and other enterprises on a worldwide basis. More
information about XL Capital Ltd is available at www.xlcapital.com.
SOURCE XL Insurance

Christine M. Weirsky, Media Relations, XL Insurance, +1-610-968-9395