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Environmental Site Liability
 

Environmental Site Liability insurance helps protect companies from the uncertainty of potential environmental liabilities associated with owning or operating facilities or sites. Environmental Site Liability insurance for buyers and sellers of property helps protect buyers and sellers in mergers, acquisitions or divestitures. From a seller looking to help reduce or eliminate the requirement for collateral to support environmental provisions contained in an underlying sales agreement, to a buyer who needs help to protect against loss as a result of a pollution discovery at a property to be purchased, Chubb’s Environmental Site Liability insurance offers valuable assistance. It can even help protect in cases where a pollution problem is already known.

Companies that purchase Environmental Site Liability insurance include:

  • Commercial property owners and developers
  • Real estate portfolio owners and managers
  • Real estate investment trusts (REITs)
  • Schools, colleges and universities
  • General manufacturing companies
  • Food processors
  • Municipalities
  • Fixed-based airport operators

Coverage as Easy as A, B, C and D

Chubb’s Environmental Site Liability insurance offers four insuring agreements to provide the needed protection.

Coverage A addresses liability for bodily injury, property damage (including natural resource damages and diminution in value) and remediation costs and remediation costs arising from known or unknown pre-existing pollution incidents at or migrating beyond an insured site. It also addresses first-party remediation costs.

Coverage B addresses liability for bodily injury, property damage and remediation costs arising from new pollution incidents at or migrating beyond an insured site. It also addresses first-party remediation costs.

Coverage C addresses liability for bodily injury, property damage and remediation costs resulting from pollution incidents at or migrating beyond a designated insured site that is neither owned nor operated by the insured, such as a warehouse, waste transfer station or disposal facility.

Coverage D pays for business interruption expenses resulting from pollution incidents at an insured site that suspends operations at that site.

Chubb’s Environmental Sites Liability insurance provides the flexibility of a non-admitted policy form and is designed to address emerging environmental risks. Highlights include:

  • Primary insurance coverage
  • Designated insured sites can be located anywhere in the world
  • Multi-year policy terms
  • Discovery trigger for on-site cleanup
  • Remediation costs include restoration costs
  • Coverage for formerly owned or operated designated sites

When does a company need an Environmental Site Liability policy? Consider the following scenario:
A semiconductor manufacturer contaminates adjacent property with chlorinated solvents. The manufacturer is sued by the neighboring business, resulting in a $10 million settlement. Chubb’s Environmental Site Liability insurance helps protect the company against a potentially huge loss.


Service and Strength

Chubb maintains a global network of loss control professionals who have the technical skills and industry-specific knowledge to offer practical and cost-effective suggestions for loss control and disaster planning. Our environmental specialists have completed course work in environmental sciences, environmental law, site assessments, hazardous waste and/or ISO 14000 training. Our loss control suggestions can help customers reduce the probability of loss and improve the odds that, if a loss does occur, its severity is minimized.

Chubb has built an unparalleled reputation for treating customers fairly and providing responsive customer service. If you have a claim, you can be confident of receiving superior service 24/7.

Our financial strength continues to earn high ratings from A.M. Best, Standard & Poor's and Moody's, leading evaluators of insurance companies. This financial strength, combined with our underwriting expertise and claim service, means you can count on Chubb to be there when you need us most.

 

Additional Information

  

Learn more about:

  • Chubb's products - Please contact your insurance agent or broker; use our Find an Agent tool to locate an agent or broker near you.
  • Claims - Please go to Chubb's Claims Services.
  • Chubb's press releases, awards, advertising and more - Please go to About Chubb.