XL Group launches insurance solution for ports and terminals in Brazil
SAO PAULO, BRAZIL - March 18, 2015
XL Group today launched its Ports & Terminals insurance solution in Brazil. Commenting on the need for this insurance coverage in the country, Renato Rodrigues, XL Group’s Country Manager for its insurance operation, said: “Brazil is a key producer of oil, iron ore, food products, and other raw materials, and the shipping industry plays an important role in the transportation of goods, both in and out of the region. The country ranked 10th amongst the world’s top 20 exporters of containerized cargo, so the industry clearly plays a huge role in Brazil’s economic health. This insurance solution will allow the ports and terminals industry to get the right insurance protection in place and ensure its ongoing contribution to the economy.” The Ports & Terminals insurance solution is designed to provide operations, equipment-handling, property and business interruption cover. The policy also includes coverage for pollution incidents, third parties (people / assets) and damage to public facilities.XL Group’s underwriting experts have the ability to insure all assets within the confines of a port, including, but not limited to, jetties/wharves, buildings and warehouses, cranes and other cargo handling equipment.The risks for the ports and terminals industry are often complex as Nicolás da Silva, Marine Underwriting Leader of XL Group’s insurance operation in Brazil, explains: “About 215 million tons of goods passed through Brazil’s ports and terminals in 2013. And this number is increasing as companies are avoiding transportation by road due to incidents of theft on Brazil’s highways. Ports and terminals also face the challenge of operating around the clock in order to stay competitive. Understanding the risks involved with operating in this way and having a sound risk management strategy in place is key to success. We believe that our large capacity, underwriting expertise, and marine risk engineering capabilities position us well to meet the needs of the ports and terminals industry in Brazil today and in the future.” About XL Group plc’s Insurance OperationsXL Group plc’s insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance.About XL Group plcXL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.comXL Group is the global brand used by XL Group plc’s insurance and reinsurance subsidiaries.