HDI Global Unveils Innovative Environmental Liability Insurance Line in the US Market
HDI Global Insurance Company (HGIC), a prominent player in the U.S. environmental insurance market, has recently launched a new line of environmental liability products. This strategic initiative is designed to meet the increasing demand for comprehensive environmental, social, and governance (ESG) risk solutions, as highlighted in recent reports from Insurance Business Mag.
New Environmental Liability Product Line by HGIC
The newly introduced environmental liability product line aims to assist businesses in effectively managing the financial risks associated with environmental incidents. Here are some key features of the product:
- Pollution Liability Coverage: Protection against liabilities stemming from pollution incidents.
- Environmental Damage Coverage: Financial support for damages caused to the environment.
- Regulatory Compliance: Assistance in managing compliance with environmental regulations.
This initiative provides clients with enhanced resilience to navigate the evolving landscape of environmental challenges.
Lindsay Judd Takes the Lead
As part of the product rollout, Lindsay Judd has been appointed as the lead underwriter. With over 15 years of experience in environmental insurance, Judd will spearhead the development and expansion of this product line throughout the United States. She will report directly to Ed Wu, the U.S. casualty lead for HGIC, and Mark Appleton, head of liability globally.
Alignment with ESG Strategies
HDI Global’s commitment to ESG principles is further emphasized by Judd’s appointment, which aligns with the company’s broader strategy to deliver specialized ESG risk solutions to clients and brokers worldwide. In November, HDI Global expanded its environmental liability insurance to incorporate social and governance coverage, addressing the increasing regulatory demands and evolving ESG risks.
Expanded Coverage for Social and Governance Risks
Scheduled for rollout this year, the expanded coverage aims to help clients manage costs related to:
- Social Risks (S-Criteria): Financial implications associated with social challenges.
- Governance Issues (G-Criteria): Crisis management expenses linked to governance-related challenges.
The ESG risk solutions team at HDI Global, consisting of 17 experts operating both locally and globally, will lead these initiatives, with Mark Appleton overseeing the efforts.
Corporate Developments and Future Directions
Marco Hensel, the Chief Underwriting Officer at HGIC, expressed that “the expansion reflects HDI’s commitment to diversifying its portfolio and supporting businesses in implementing tailored insurance solutions.”
In addition to its ESG initiatives, HDI Global has appointed Dr. Carsten Schulte as its new global head of marine, further enhancing its leadership team with expertise in underwriting and portfolio management.
For more information on HDI Global and their innovative insurance solutions, visit HDI Global’s official website.
