Pen Underwriting signs extended capacity deal with Zurich

Zurich will provide Pen Underwriting with capacity in excess of £165m in premium over the next five years for its hazardous goods and environmental industries’ motor fleet proposition.

Pen’s products in this area offer cover to companies working in fuels and oil, chemicals, lubricants, LPG, liquid waste and industrial cleaning as well as non-hazardous tanker operators.

Adam Shefras, managing director of hazardous goods and environmental industries at Pen Underwriting, said: “We are absolutely delighted to secure the continued long-term commitment from Zurich in support of our UK fleet insurance solution in this highly specialist market.”

Kevin Morton, strategy manager from Zurich, added: “Our long-term collaboration with Pen Underwriting and mutual commitment to keeping the UK’s hazardous and environmental industries moving is one we are very pleased to renew and build upon.

“Pen’s sector expertise, underwriting discipline, claims service, provision of timely and accurate data and constant drive for improvement in all aspects of the portfolio continue to make this an important and attractive distribution opportunity for Zurich and an extremely valued partnership.”

Pen has enjoyed consistent capacity provision from Zurich for more than 30 years.

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