Executive Vice President Mike Tighe recently wrote an account for a $21.5M New Jersey-based manufacturer with an extremely tight timeline to find an environmental coverage solution. The insured specializes in the design and manufacturing of pressure and flow controls and instrument tube fittings for liquids and gases.

Less than a month before the renewal, the previous carrier abruptly informed the agent that they would be putting a Perfluoroalkyl and Polyfluoroalkyl Substances (PFAS/PTFE) exclusion on the renewal policy, specifically excluding Teflon, which is a material that the insured uses in almost all of their products. This put the agent in a difficult position to find coverage with a new company and secure competitive pricing within an extremely tight timeline. The main challenge was to find a competitive market that would match the previous company’s coverage and pricing without the PFAS/PTFE exclusion.

Mike and the Beacon Hill team got to work seeking out environmental markets to review and quote this account. Out of our 20+ markets, we submitted the account to six environmental carriers and were able to find two willing to offer terms without the PFAS exclusion. The GL & Products and Product Pollution Liability were offered on an occurrence basis, and Pollution Liability coverage was included for their manufacturing facility, its waste stream, and any incidental contracting exposures.

The insured purchased GL & Contractors Pollution Liability with $1M/$2M limits, and a $4M/$4M Excess policy for a total of $130,755 in premium. Coverage included Crisis Management Costs, Transportation Pollution Liability, Non-Owned Disposal Site Coverage, and Employee Benefits Liability coverage.

When working with a facility that has unique environmental concerns, or a client with a short timeframe for securing pollution coverage, it is important to work with the right environmental specialist. And with the increased awareness of PFAS chemicals, and other emerging contaminants of concern, underwriting these risks is more complicated than ever before. Beacon Hill has experience writing these accounts and will provide the expertise and support to help insureds receive the right coverage for their businesses.

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See more on Emerging Contaminants of Concern. For more recently written environmental accounts, visit the Beacon Hill Success Story Webpage.