Pen Underwriting, the UK-based managing general agent, announced a new long-term UK capacity agreement with Zurich Insurance in hazardous industries and tank transport, building on a strategic partnership for consistent capacity provision dating back more than 30 years. .
Under the agreement, Zurich will deliver capacity in excess of £ 165 million (US $ 224.7 million) in premium capacity for the Pen & # 39; s Hazardous Goods and Environmental Industries fleet proposal over the next five years. Pen's products in this area are tailored to meet the specific needs of different segments of the high-risk transportation and distribution industry, such as companies working in fuels and oil, chemicals, lubricants, LPG, liquid waste and industrial cleaning, as well as non- dangerous tankers operators.
Pen said the new deal underscores his commitment to serve and support businesses in the hazardous, environmental and bulk liquids industries, where risk management and loss mitigation expertise is combined with insurance protection to provide brokers and their clients with market-leading propositions, instant access to experienced technical insurers and embedded extras, including 24/7 emergency assistance in the event of leaks.
"We are absolutely delighted to secure Zurich's continued long-term commitment to support our UK fleet insurance solution in this highly specialized market," said Adam Shefras, General Manager of Hazardous Goods & Environmental Industries at Pen Underwriting.
“Against the current backdrop of market challenges, the strength and longevity of our partnership with Zurich, our decades of experience and close relationship with industry associations enable us to provide brokers and their clients with much-needed consistency, appropriate protection and long-term sustainability in an industry that is catastrophic. must be able to absorb losses. "
“Our longstanding partnership with Pen Underwriting and our mutual commitment to keep the UK's hazardous and environmental industries moving is one that we are delighted to innovate and build upon,” said Kevin Morton, Zurich-based Strategy Manager.
"Pen's industry expertise, underwriting discipline, claims service, providing timely and accurate data and constant drive for improvement in all aspects of the portfolio make this an important and attractive distribution opportunity for Zurich and a highly valued partnership", Morton added.
Source: Pen Underwriting
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