ENVIRONMENTAL INSURANCE FOR SMALL MEDIUM AND LARGE BUSINESSES
INSURANCE PROGRAMS
STORAGE TANK PROGRAM
Storage tank policies are widely used by private companies to satisfy federal and state financial responsibility requirements. These policies are intended to cover the expense of corrective measures (such as cleaning costs) and harm to third parties arising from emissions from scheduled underground storage tanks (USTs) and aboveground storage tanks (ASTs).
Our partners have a specialized team of professionals dedicated to placing storage tank coverage who work with multiple carriers to help fulfill your insurance needs and financial responsibility requirements.
Underground & Aboveground Storage Tank Liability
Storage tank liability is intended to pay on behalf of the insured costs incurred from bodily injury, property damage, clean-up, and defense expenses resulting from a pollution incident allegedly caused by a scheduled storage tank.
- Up to 50 total tanks
- Minimum Premium: $300
- Up to $1M/$2M limits
Dealer & Repair Site Pollution
Dealer & Repair is a site pollution liability policy tailored to this sector. It shall pay for bodily injury, property damage, cleaning, and defense costs on behalf of the insured due to a pollution incident at the location covered or from a scheduled storage tank.
CONTRACTORS PROGRAM
In order to satisfy contractual requirements, address exposures and protect properties, insurance needs for the construction industry are evolving and more likely to require environmental and/or professional liability.
Our partners have a team of professionals devoted exclusively to contracting and building risks. Their team provides carriers with the expertise and leverage to help you acquire extensive and cost-effective solutions, including commercial contractors, general contractors, construction managers and contractors for design.
Contractors Pollution Liability
Contractors Pollution Liability provides coverage to third parties for bodily injury, property damage, defense, and clean-up costs for the conditions of pollution arising from covered contracting operations carried out by or on behalf of the insured.
- Multiple carrier offers
- Minimum premium: $500
- Up to $10M/$10M limits
Combined Contractors Pollution/Professional Liability (CPL/PL)
Contractors Pollution/Professional Liability offers coverage for the conditions of pollution resulting from the contracting activities covered and coverage for economic loss arising from errors and omissions in the provision of professional services or failure to render them.
OCIP/CCIP (Pollution Only)
Owner-controlled insurance programs (OCIPs) or Contractor-Controlled Insurance Programs (CCIPs) provide the owner/contractor and all participating contractors operating on a project with uniform pollution coverage and liability limits.
LENDER ENVIRONMENTAL PROGRAM
Generally, commercial real estate-backed lending requires consideration to address potential environmental issues. Traditional methods of due diligence employed by commercial lenders often only take historical property issues into consideration which may leave the lender with the costly risk of maintaining future liability or compromise the collateral due to the discovery of an environmental condition.
Lender Environmental coverage can resolve these issues and can be designed for a single transaction or on the basis of a portfolio.
Lender Environmental Portfolio Program
Our partners offer a Lender Environmental Portfolio program that offers a cost-effective alternative to conventional due diligence for commercial lenders and transfers their environmental liability to an 'A' rated insurance carrier.
Policies are dynamic, loans can be added during a selected timeframe and can be structed for terms up to 13 years.
Organizations that originate retain and service commercial real estate-backed loans, such as banks, credit unions, mortgage bankers and other commercial lending institutions, are customers that are well suited for the lender portfolio policy. For these lending organizations, a portfolio scheme may offer several useful benefits.
Single Transaction Lender Environmental
Under a single transaction basis, coverage is for a collateral property or properties securing an individual loan. Coverage is intended to shield a lender from loss of collateral value in the event of a default on a loan accompanied by a condition of pollution and may also respond to allegations of third-party liability for pollution against the lender or to the discovery of a condition of pollution on a foreclosed or lender-owned property.
Using environmental lender coverage can give a lender confidence in financing certain loans within their appetite that could not continue due to known or perceived environmental liabilities. If coverage is obtained for a single transaction deal or by a portfolio customer for their loans that do not meet the program parameters, our partner lender team is equipped by their vast product expertise and knowledge of the changing market to efficiently get coverage.
INDUSTRIES SERVED
Trade contractors
Agribusiness and farming
Wholesale trade
Educational facilities
Sports and recreation
HazMat haulers
Renewable energy
Financial Services
Waste brokers
Design/build contractors
Construction managers
Airports
Marinas
Mining
Utilities
Hospitality
Oil and gas
Healthcare
Retail trade
Food service
Real estate
Dry cleaners
Auto services and stations
Brownfield redevelopers
Public entities/municipalities
Waste management and remediation
Professional and technical services
Transportation and warehousing
Manufacturing and distribution
General contractors (GC)
Environmental contractors
Environmental consultants
And more….