Site Pollution Liability
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Policy terms up to 10 years
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Policy limits up to $50,000,000
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Minimum premium for 10-year term starts at $100,000
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Can cover both unknown pre-existing pollution conditions and new pollution conditions
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Claims-made policy form
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Coverage Triggers: Discovery, Third-Party, or Government Mandate
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Flexible Deductible/Premium Structure
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Transferability to future owners
Policy Features
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Coverage for cleanup costs, including emergency response costs and restoration costs, of pollution conditions on, at, under or migrating from a covered property.
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Coverage for third-party bodily injury and property damage claims, including loss of use, diminution in value and natural resource damages.
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Coverage for non-owned disposal site liability.
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Coverage for transportation pollution liability.
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Coverage for business interruption and extra expense, including loss of rental income
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Coverage for legal defense expense
Basic Policy Coverages
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Coverage for first-party diminution in value of a covered property
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Coverage for contingent business interruption
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Coverage for disinfection expense (of viruses and bacteria)
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Coverage for cleanup costs of known pre-existing pollution conditions excess of indemnification
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Coverage for contractual liability
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Coverage for scheduled underground storage tanks
Additional Policy Coverages
Policy Benefits and Features:
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Limits of liability up to $50M each pollution incident
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Claims-made and reported policy form
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Policy terms up to 10 years
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Broad pollutant definition includes mold and legionella
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Third-party bodily injury and property damage for asbestos and lead-based paint
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Coverage for above-ground storage tanks
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Assignable to subsequent purchasers
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Coverage available for U.S. or Canada with properties
Submission Requirements
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Environmental site assessment reports
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Purchase and sale agreement
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Redevelopment plans