ACE Group today announced that it will expand its ACE broadform public liability insurance proposition to include environmental liability, as part of its strategy to support the evolving risk management needs of companies in South Africa.
The announcement follows a number of enhancements to South Africa’s environmental and waste laws and recent landmark court decisions that have highlighted the growing exposures for businesses and their directors for environmental damage caused by South African companies.
The new extension, which will be available from 1 January 2015, provides clients with comprehensive third party cover for environmental risk as it combines sudden and accidental, as well as gradual pollution clean-up and mitigation costs.
Lee Stacey, Head of Casualty at ACE in South Africa, said:
“Our research shows that environmental risk is becoming a key concern for companies in South Africa and globally. The extension to our public liability product is suited for all types and sizes of businesses, from small enterprises to large multinationals. It will enable us to further raise awareness of the importance of environmental risks for our South African clients and ensure that they have the insurance cover they need against clean-up costs and regulatory exposures.”
John Nienaber, Country President for ACE in South Africa, said:
“This extension further demonstrates ACE’s commitment to partnering with South African companies and their brokers across the complex and changing field of liability risk. By combining the expertise of our growing team of liability experts in South Africa with our vast international experience in environmental liability insurance, I am confident we can help them to keep one step ahead of their evolving exposures.”
For more information on our environmental capabilities please visit http://www.acegroup.com/za-en/for-businesses/environmental-liability.aspx
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