Pen strengthens capacity partnership with Zurich

Published On : 28 Sep 2017

Our new long term capacity deal in the specialist area of tanker and hazardous goods transportation builds on a successful partnership that extends back more than 30 years.

The agreement sees Zurich provide capacity for up to £150m in premiums over the next five years for our hazardous goods and environmental motor fleet solution which is tailored to the specific needs of different segments of the high hazard transportation and distribution sector, such as fuels, chemicals and liquid waste as well as non-hazardous tanker operators.

Zurich's decision to extend our partnership reflects our track record in writing profitable business with well-managed loss ratios in an industry where risk is (by definition) everywhere. We have achieved this by creating a sustainable underwriting footprint and building a team of sector specialists — many of whom have been with us for 15 years or more.

The new deal underlines our ongoing commitment to serving and supporting the hazardous and environmental industries by providing brokers and their clients with continued direct access to experienced technical underwriters, market-leading propositions and embedded extras such as 24/7 emergency spill response service.

The key features of our hazardous industries motor fleet solution include:

- Legal liability for damage caused by spillage or crossover/wrongful delivery as a result of driver error or omission
- 24/7 Environmental Response Service — 365 days a year
- Environmental statutory liability up to £1m
- £10m third party property damage including hazardous goods
- New replacement vehicle cover for vehicles less than 12 months old (including commercial vehicles) where repair costs exceed 50% of the manufacturer’s recommended retail price