Environmental Insurance Information

Insurance, both existing and new policies, can be the most cost effective way to prevent environmental problems from becoming financial catastrophes.

New Environmental Insurance Policies

New types of insurance policies are available now to cover a wide variety of environmental risks

Asbestos/Lead Paint Liability - coverage for contractors and property owners for removal costs and claims of bodily injury or property damage.

Contractor's Environmental Impairment Liability - coverage for third party liability and available for traditional building contractors as well as environmental contractors.

Environmental Consultant's Liability - coverage for professional errors and omissions.

Environmental Impairment Liability - coverage for third party claims of bodily injury or property damage and coverage for on-site clean up costs. The types of businesses covered include Industrial (including chemical processing and heavy manufacturing); Waste Treatment, Storage and Disposal facilities; Hospitals; and Utilities

Property Transfer Liability - protects landowners from contamination that they were not aware of that was caused by the prior owners and also covers clean up required by changes in environmental laws.

Remediation Stop Loss - provides a cap on cost over-runs of environmental clean ups.

Post Remediation - provides coverage for changes in government environmental regulations after the clean up has been completed as well as coverage for the clean up of contamination that was not detected when the policy was issued.

Securitized Mortgage - protects the mortgage holder from environmental claims and on-site clean up costs.

Underground Storage Tank - coverage for clean up costs and third party claims of bodily injury or property damage from leaking underground storage tanks.

Coverage for Environmental Claims Under Existing Policies

Insurance policies that a company has already paid for may be its most valuable assets.

The availability of coverage under a comprehensive general liability (CGL) policy depends upon the nature of the claim; the state(s) involved; the year that the insurance policy was issued; dates relating to the environmental problem: the date the hazardous material spilled or leaked from its container, the date the hazardous material reached the groundwater or neighbor's property and the date the neighbor or the government discovered the contamination; and the insurance company's response, if any.

For more information about whether the insurance coverage for which you have paid premiums covers your environmental claims contact us.