Specialty commercial insurance brokerage firm Bluetone Advisors, has launched a lithium-ion battery captive to help advanced battery companies manage their insurance costs and offer a broader policy with comprehensive and consistent coverage terms.
Andy Royce, president of BlueStone Advisors, says: “We're excited to announce the launch of BlueStone's lithium-ion battery captive to the advanced battery ecosystem for employers who are adversely affected by rising insurance rates, limited capacity, and shrinking coverage terms offered in today's insurance and reinsurance marketplace.
“We’ve seen resinsurance rates spike due to global economic uncertainty, geopolitical unrest and increased catastrophic claims paid to international lithium-ion battery operators with inferior safety standards.
“The BlueStone lithium-ion captive is for US employers with sound risk management practices who want more control of their insurance costs, pricing stability, and coverage certainty.”
