Why is TankAssure360 needed?
Due to increased claims activity, coverage for lightning strikes on storage tanks is becoming increasingly restrictive. Carriers are either charging higher rates, increasing deductibles or excluding coverage.
Key benefits of TankAssure360
- Specifically designed to cover losses resulting from lightning strikes on tank sites.
- Pricing is extremely competitive, and deductibles are far lower than those available in London or US domestic markets.
- Exclusively available to Lightning Master Corporation customers who have an up-to-date installation or QA/QC report.
- Designed to fit underneath any existing client insurance arrangements. No need to move insurance or change broker/carrier relationships.
- Simple, online application process.
What cover does TankAssure360 provide?
- Subject to policy terms, conditions and limits, TankAssure360 will cover the costs of:
- repairing or replacing the tanks struck by lightning;
- the tank contents;
- any other property at the site which is damaged by the strike;
- the removal of debris;
- pollution clean-up at the site.
- Limits of up to USD 5,000,000 per occurrence (which are primary to any existing coverage). Exact limits are dependent on the size of the site.
- Deductibles are as low as USD 5,000 per occurrence and are capped at USD 50,000 per occurrence. These are substantially lower than deductibles available in London or US domestic markets.