Pen Underwriting, a subsidiary of Arthur J Gallagher, renews partnership with Zurich in the UK for multi-year capacity agreement for specialist fleet insurance, including hazardous goods, tanker and environmental sectors. Zurich to provide capacity for wider fleet book, allowing Pen to underwrite over £350m in premiums over the next five years.

Agreement also enables Pen to place terms on new fleet risks for existing clients with established relationships in other product areas. Enhanced levels of delegated underwriting and claims authority introduced for improved decision-making and broker interaction. Zurich’s support extends to Pen’s fleet business serving hazardous goods, tanker, and environmental operators.

Pen’s fleet proposition includes risk management, loss mitigation support, and access to specialist underwriters. Pen and Zurich have a similar arrangement in the Republic of Ireland covering comparable sectors. In May, Pen Underwriting launched Pen Protect, an improved cyber risk management platform for cyber policyholders worldwide. The partnership aims to provide sustainable solutions and responsive service in sectors with potential for complex claims.

Read more at Yahoo Finance: Pen Underwriting renews fleet capacity tie-up with Zurich in UK