1 week ago
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Pen Underwriting, a subsidiary of Arthur J Gallagher, has renewed its concern with Zurich successful the UK, done a revised multi-year capableness statement linked to its specializer fleet security activity.
The tie-up has supported centrifugal fleet risks successful the hazardous goods, tanker and biology sectors for much than 3 decades.
From 1 January 2026, Zurich volition besides supply capableness for Pen’s wider fleet book, including rider transport risks specified arsenic coaches, buses and minibuses.
The statement besides allows Pen to spot presumption connected caller fleet risks from existing clients wherever determination is an established narration successful different merchandise areas.
The statement is expected to let Pen to underwrite much than £350m successful premiums implicit the adjacent 5 years.
The scope includes further improvement of solutions for fleet risks crossed industries that necessitate specializer underwriting capability.
Pen Underwriting hazardous goods & biology industries managing manager Adam Shefras said: “Not lone are we perfectly delighted to unafraid Zurich’s ongoing capableness committedness successful enactment of hazardous and different bulk liquid fleet risks crossed the UK but to beryllium broadening retired that concern to encompass Pen’s different cardinal fleet specialisms.
“Pen’s longevity successful these trades, combined with our lasting strategical collaboration with Zurich and precocious levels of underwriting and claims authority, means we are ideally placed to supply sustainable solutions and responsive work successful sectors that person the imaginable for analyzable and catastrophic claims.”
The updated statement introduces “enhanced levels” of delegated underwriting and claims authorization to enactment decision-making and improved broker interaction.
Zurich’s enactment was antecedently constricted to Pen’s fleet concern serving hazardous goods, tanker and biology operators.
This included companies progressive successful chemicals, fuels and oil, concern cleaning, liquid and hazardous waste, LPG, lubricants and non-hazardous tanker operations.
Pen’s fleet proposition includes hazard absorption and nonaccomplishment mitigation support, entree to specializer underwriters and services specified arsenic 24/7 exigency spill response.
Pen and Zurich besides person a akin statement successful the Republic of Ireland covering comparable sectors.
In May this year, Pen Underwriting launched Pen Protect, an “improved” cyber hazard absorption level offering “enhanced” hazard absorption tools for cyber policyholders worldwide.
"Pen Underwriting renews fleet capableness tie-up with Zurich successful UK " was primitively created and published by Life Insurance International, a GlobalData owned brand.
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