What is the product?

Environmental site liability insurance, also known as pollution legal liability coverage (PLL) is a specialty insurance coverage that provides first party and third-party protection for environmental conditions/ events stemming from owning property or operating facilities. Coverage is tailored to specific risks and designed to respond to gradual (historic) pollution conditions/events and/or sudden and accidental pollution conditions/events. Policies are written on a “claims made” basis.

How does it support green outcomes?

This insurance provides a financial backstop to potentially catastrophic events and associated environmental events/conditions emanating or arising from specific sites or operations including transit and waste disposal sites. This backstop mitigates the uncertainty of environmental liabilities and therefore can be accepted instead of environmental indemnities which provide creditor protection.

How does it enable customers today?

This product has a wide range of available coverages for insureds, including: indoor air quality including mold and legionella; non-owned waste disposal sites; business interruption resulting from pollution conditions; transportation; storage tanks, above ground and underground; financial responsibility obligations including closure / post-closure and RCRA; products pollution liability; bio-diversity/ natural resource damages.