Pollution Legal Liability (PLL) provides protection for site owners and operators for liabilities or claims arising from bodily injury, property damage, cleanup costs and defense costs as a result of a pollution event on, at, under, or emanating from an insured's scheduled location. This coverage can also be extended to pollution conditions resulting from the transportation of waste or products, as well as to non-owned disposal site-related environmental liabilities. Pollution Legal Liability helps provide protection against environmental risk and offers solutions for:
- Lender requirements
- Landlord requirements
- Shareholders' needs
- Contract requirements
- Board of Director objectives
- Regulatory obligations
PLL is also a strategic risk-management mechanism. It provides coverage that can help protect buyers and sellers from environmental liabilities in business transactions, such as those that can delay an acquisition, merger or divestiture.
Target Classes
- Agricultural Operations
- Brownfield's Redevelopers
- Bulk Storage Terminals and Distribution Facilities
- Chemical Manufacturers
- Electroplating Operations
- Food Processing Facilities
- Habitation
- Hazardous Waste Landfill Operations
- Incinerators
- Industrial Facilities
- Laboratories
- Lessees and/or Lessors
- Manufacturing Facilities
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- Medical Facilities
- Mining Operations
- Municipal Facilities and Operations
- Paint and Coating Facilities
- Power Industry
- Printers
- Property Managers (Commercial, Industrial and Residential)
- Real Estate Developers
- Recycling Facilities
- Refineries
- REIT's
- Waste Treatment, Storage & Disposal Facilities
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Coverage Offered:
- Pollution Legal Liability
Highlights
- A PLL policy can respond to a gap in coverage created by a propety policy that excludes coverage for business interruption related to pollution conditions. PLL provides first-party business interruption coverage for losses due to pollution conditions.
- The policy can be endorsed to meet compulsory financial responsibility requirements for hazardous waste treatment, storage and disposal facilities imposed under the Resources Conservation & Recovery Act (RCRA) as well as those prescribed by state law.
- Coverage applies to sudden and gradual pollution conditions.
- Provides assurance to unknown environmental liabilities in asset transactions.
- Policy is commonly accepted in lieu of environmental indemnities or can be structured to wrap around indemnities.
- First-party diminution-in-value coverage is available.
- Defense coverage is provided within the limit of liability.
- Provides coverage for punitive damages, fines, or penalties where allowable by law
- Definition of bodily injury includes mental anguish
- Natural resource damages can be defined and covered in the definition of property damage.
- Policy terms up to 10 years are available.
- Enhances financing prospects by allowing creditors/lenders protection.
- PLL is a transferable asset to future investors or buyers.
Policy Term
- Policies can be structured on an annual or multi year basis.
Limits of Liability
- $300M per loss/$300M aggregate limit of liability if structured with various carriers from the environmental insurance marketplace
- $50M per loss/$50M aggregate with any one particular carrier
Retentions
Premiums
- Typical premiums begin around $10,000 for the first $1M per loss/$1M aggregate limit of liability.
Download this fact sheet
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Greg Steinman
Eastern Region, VP
212.293.3941
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Jim Hamilton
Western Region, VP
303.820.2626
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