To address the significant and increasingly complex risks midsize chemical companies face, Marsh today announced the launch of ChemPreferred, a customized package of policies that offers broad insurance protection.
Available to U.S. chemical and processing companies with annual sales between $25 million and $500 million, ChemPreferred offers broad terms and conditions on comprehensive casualty, property, and environmental insurance coverages. Other lines of insurance, including directors' and officers' liability, foreign casualty, and cargo, also can be written into the package.
"Given the nature, complexity and sheer number of risks chemical companies face today, securing broad insurance protection should be a top priority for any company operating in the chemical sector," said Fabrice Lebourgeois, Marsh's North American Chemical Industry Practice Leader. “Not having the right insurance coverage could put an entire chemical company at risk in the event of a loss."
ChemPreferred provides clients with a single resource for all insurance needs, and access to Marsh’s network of industry experts and placement specialists. Clients also will benefit from preferred relationships established with select insurers committed to writing chemical risks and providing a wide breadth of coverage at competitive prices.
"With ChemPreferred, midsize organizations not only have access to broad coverage from an insurance advisor that understands chemical risks, but they also gain economies of scale, which should result in lower premiums," Mr. Lebourgeois said.