Aon has reported that Anglia Water has become its first customer for Water Resilience Insurance cover.

The new product, which is aimed solely at water utility companies, has been developed after feedback regarding the limitations and practicalities of current coverage.

According to the insurer, it approaches water contamination from a practical standpoint, providing compensation in the event of malicious water tampering and accidental contamination and extortion, while taking into account real-life scenarios not typically covered till now.

Claims can be made for the cost of issuing a “boil notice” or an “avoid consumption notice”, plus for goodwill payments and for providing bottled water to vulnerable customers.

Water Resilience also covers third-party financial losses such as loss of profits, or expenses incurred due to water contamination.

Anglia Water’s group insurance manager, Phil Robinson, comments: “Aon’s Water Resilience Insurance gives us peace of mind … any losses incurred can be mitigated with this insurance cover.”

He adds: “Other insurance products in this space are extremely restrictive and we feel this is providing the best coverage for Anglian Water and its stakeholders.”

The company provides water services to 4.3 million customers in the east of England.

 

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