Remediation Cost Cap
Remediation Cost Cap Insurance is a risk management tool utilized by property owners and remediation contractors. The policy insures against cost overruns in excess of a self-insured retention (SIR). The SIR is comprised of the anticipated cleanup costs and a negotiated buffer layer. The coverage provided above the SIR is usually subject to a negotiable co-payment participation by the policyholder. Remediation Cost Cap Insurance minimizes the financial risk of remediation projects and provides property owners and contractors with the confidence that they have diligently managed the risks and uncertainties associated with these projects.
Policy terms up to 10 years
Policy limits available up to $10,000,000
Insures against cleanup cost overruns
Policy is a claims made and reported form
Combined Contractor Pollution Liability and Professional Liability Policies
A combined policy serves the need of full service environmental or non-environmental firms performing covered operations as well as providing professional services for a fee such as remediation, engineering, design, or consulting. These policies are designed to insure against economic damages and pollution conditions arising out of an error and omission from a covered professional service or a covered operation performed by or on behalf of an insured resulting in a third-party claim for bodily injury, third party property damage, cleanup costs, environmental damages and/or legal defense. By combining these coverages under one form, potential gaps or overlaps in coverage are reduced. The combined policy is ideal for multi-disciplined firms and firms whose operations are not solely environmental because as it provides both pollution coverage and errors and omissions coverage.
Underground Storage Tanks & Above Ground Storage Tanks
Tank insurance provides coverage for corrective actions and third-party bodily injury, third-party property damage coverage for claims arising from the release of petroleum or hazardous materials from underground or above ground storage tanks (USTs or ASTs). Tank policies can also provide financial assurance to meet the financial responsibility requirements of the EPA. On-site clean-up costs may also be covered on these policies arising from third-party claims.