AXIS ties up with Hyperion arm on environmental risk offering
AXIS Insurance, the insurance business segment of Bermuda-based AXIS Capital Holdings, has partnered with DUAL North America, the underwriting arm of the Hyperion Insurance Group, on a multi-product environmental risk programme.
The two companies will provide a broad environmental risk product offering for contractors, consultants and engineers in the United States. DUAL North America will operate as a managing general agent (MGA) on behalf of AXIS to distribute and underwrite a suite of multi-product environmental coverages.
The offering includes providing small and mid-sized businesses with the flexibility and assurance associated with the removal of underground storage tanks, abating asbestos and remediating contaminated soil, among other highly specialized environmental projects and services.
“As the environmental risk market grows, small and mid-sized businesses need versatile solutions to safeguard against pollution-related risks within the increasingly changing environmental landscape," said Richard Zarandona, EVP of design professional, environmental and surety at AXIS Insurance. "DUAL North America is one of the leading MGAs in this market, and we are proud to partner with them to provide businesses, consultants and contractors with more flexible environmental coverages.”
Dean Cross, executive director of DUAL North America, said: “DUAL North America is delighted to partner with AXIS, one of the leading carrier partners within the environmental risks marketplace. The decades of collaborative underwriting experience of DUAL and AXIS yield a robust offering for wholesale trading partners within the environmental risk industry, while providing sophisticated coverages to insureds.”
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