Environmental site liability Chubb Commercial Insurance
Environmental site liability insurance helps protect companies from the uncertainty of potential environmental liabilities
associated with owning or operating facilities or sites and protects buyers and sellers in mergers acquisitions or divestitures.
The policy protects against liabilities for property damage, bodily injury and remediation costs from past and future pollution
incidents arising from site or site based actions. In addition there are no temporal qualifications to the cover so it is
provided for sudden, accidental and gradual pollution incidents.
Other key features can include:
Own site and off site clean-up costs are covered (remediation costs) - to the extent required by environmental law
Emergency expenses - to deal with the consequences of a pollution incident before likely serious harm to human health or serious
environmental damage actually arises
Indemnity for directors and employees
No retroactive date needed – therefore it is ideally suited to support mergers and acquisitions (M&A) or any land transaction
where there may be a concern about pre-existing contamination or pollution.
Annual renewal or long period renewal of up to 10 years. Longer term policies ideal in supporting M&A deals or land transactions.
Provides cover for historical pollution
Extended reporting period up to 48 months following policy termination available (where renewal of policy not required)
New liabilities under the European Environmental Liability Directive (Directive No. 2004/35/CE) can be covered if and when
Optional coverage for the transportation of cargo
Types of business we have insured include:
Commercial property owners and developers
Schools, colleges, universities
General manufacturing companies
Fixed-based airport operators
Power generation operators
Sewage treatment and other utility activities
Bio-fuel production and a wide variety of other alternative and renewable energy applications and processes