Beazley plc has expanded its environmental products offering with the launch of an Environmental Cleanup Costs insurance policy that provides coverage for cost overruns for remediation of known conditions at covered locations. The product, written on a non-admitted basis through Beazley's syndicates at Lloyd's, is available nationwide and protects contractors and their clients against additional expenses and cleanup costs incurred during remediation projects. The policy provides "stop loss" protection to cap costs for known pollution conditions due to expenses that exceed a pre-determined budget.

It is designed primarily for brownfield projects where the remediation budget is from $3 to $10 million, on 10 contiguous acres or less.