AGCS offers response services in environmental emergencies for policyholders

  • AGCS partners with GM Consultant and HETI to provide an effective response to pollution and contamination incidents
  • Global vendor network provides seamless response, including 24/7 crisis hotline and intervention in 30 countries across Europe, Asia and North/South America
  • Crisis management services are becoming a vital element of the AGCS Liability product offeringg

New York, NY (May 21, 2019) – Allianz Global Corporate & Specialty SE (AGCS) has announced it now offers expanded emergency response services as part of its Environmental Impairment Liability (EIL) coverage when pollution and/or contamination events occur. AGCS has established strategic partnerships with GM Consultant (global) and HETI (United States and Canada) to offer immediate support and claims investigation services for clients worldwide.

Responding to a pollution or contamination incident in a timely and effective manner helps control the overall impact to the environment and minimizes negative effects on human health, biodiversity and property. Through GM Consultant and HETI, AGCS can offer a 24/7 support system to handle related emergencies. EIL coverage typically includes pollution insurance and businesses interruption (BI) indemnity covering loss of profits and extra expenses.

“We are extremely pleased to be working with GM Consultant. Coupled with our existing relationship with HETI in North America, we are now poised to offer a truly seamless and global response”, stated Peter Oenning, Head of Global Claims Liability, AGCS. “Responding to environmental emergencies requires the coordination of multiple parties, including regulatory and law enforcement agencies. This is often a daunting task, but these partners can effectively assist in appropriate response activation, remediation, regulatory communication and waste disposal, as well as claims auditing functions.”

Wide-ranging crisis scenarios

Environmental emergency scenarios resulting in water, air or ground pollution are wide-ranging, including damage from waste discharge activities, emissions or disposal practices, as well as spills of toxic substances leaking into the environment, despite established security measures. Agricultural run-off, such as pesticides or fertilizers sweeping into soil or groundwater can also cause environmental damage and adverse health effects.

Pollution can arise from natural perils too, as demonstrated by mold claims post Hurricane Harvey. For businesses, the consequences from environmental incidents can be significant resulting in potential liabilities such as penalties or fines from regulators and having to pay significant disposal, remediation or clean-up expenses after contamination or spillages.

Effective containment and coordination

During an emergency, dedicated specialists from GM Consultant or HETI will help AGCS EIL clients analyze the root cause of an incident, design and implement a personalized and well-planned crisis response, including containment measures and support communication and third-party coordination.

Founded in 1999, GM Consultant group is an independent loss adjusting and consulting firm, offering comprehensive solutions for operational risk and claims management in 30 countries and jurisdictions. HETI is a full-service environmental health & safety risk management company, established in 1986, which maintains offices/contract staff throughout North America.

“Supporting an effective crisis or emergency response is becoming a key element across the AGCS Liability product line,” added Ciara Brady, Global Head of Liability, AGCS. “With our new global vendor network, AGCS EIL clients will benefit from real-time, global incident response services in local languages – a great value-add service that further outlines AGCS’s commitment to providing client-centric solutions.”

Learn more about the AGCS Liability Line of Business.

About Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

Worldwide, AGCS operates with its own teams in 34 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2018, AGCS generated a total of €8.2 billion gross premium globally.

Forward-Looking Statement disclaimer

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.

Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.

SOURCE: Allianz Global Corporate & Specialty

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