XL, JGS Partner on Homeowner Insurance

XL Insurance, XL Capital Ltd's global insurance operations, announced an agreement with program administrator JGS Insurance to offer stand-alone environmental insurance coverage to members of JGS Insurance's Preferred Property Program, a risk purchasing group of condominium, homeowners and community associations.

According to Rich Corbett, head of XL Insurance's Global Environmental Insurance unit: "XL Insurance is known for providing industry-specific underwriting expertise and insurance programs that help our clients manage their most complex risks. We're pleased to partner with a firm like JGS Insurance whose expertise and client commitment complement our own."

"Many commercial insurance buyers don't realize that their general liability (GL) insurance offers very limited or no environmental coverage at all," said Kenneth Hager, President of the Preferred Property Program. "We are pleased to be able to offer tailored environmental coverage from one of the market's leading environmental insurance providers. This allows our clients to enhance their environmental risk management efforts and steer clear of costly cleanup and legal expenses."

Corbett added: "Community and homeowner associations may also find themselves liable for pollution incidents that can result from using pesticides and fertilizers for lawn maintenance, storing pool chemicals, various construction activities and other property management activities. Pollution incidents occur less frequently than other loss events, but when they do occur they often carry an expensive price tag."

XL Insurance's environmental policy, underwritten by Greenwich Insurance Company, provides coverage for remediation expense, bodily injury and property damage, and legal defense for pollution conditions resulting at or from the insured location. Greenwich Insurance Company is one of the member insurers of the XL Capital Ltd group of companies.