Marsh has launched a new liability product designed to provide cover for power and utility clients based outside the US.
In a release, Marsh said the coverage had been developed to match the complex range of third-party exposures often faced by power producers.
Key features of the facility are:
• Primary limits of up to US$25m: each risk to be submitted individually for rating with excess layers available on request
• Pre-agreed wording specifically designed for the utility industry
• Broad cover
• Security is provided by Lloyd's.
Thomas Bates, vice president, global markets specialised products, said: “Given the many challenges facing our international utility clients, we identified the demand for a product that could respond to their varying exposures in a consistent, competitive fashion. Using our experience and influence in the market, we have been able to secure support for a comprehensive policy which is able to give our clients the security they need.”
