TORONTO--(BUSINESS WIRE)--Starr Companies today announced the launch of Enviro-Wrap insurance in Canada. The coverage provides wrap-up liability and contractor’s pollution liability for construction project specific placements, covering either the owner or the contractor. The flexible modular occurrence-based policy is cost effective and designed to eliminate coverage gaps common in wrap-up programs.
“Starr continues to find new ways to be innovative for both our brokers and clients,” stated Hano Pak, chief agent and country executive. “As a leading property “course of construction” (COC) underwriting company we want to ensure that we are able to provide unique full solutions to our brokers. Our Enviro-Wrap provides insurance protection to clients such as project owners, lead contractors and financiers from costly losses, including the financial consequences of potential project delays.”
The coverage will be eligible for project contract values of up to CAN$250,000,000, offered on an Owner’s Controlled Insurance Program (OCIP) / Contractor Controlled Insurance Program (CCIP) basis and for trade contractors for policy periods up to five years. In addition, Starr can add coverage for transportation, above ground storage tanks and mobile fuel tanks to the policy.
About Starr Companies
Starr Companies (or Starr) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Singapore and U.K. each have an A.M. Best rating of “A” (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong).