"Lender Environmental Insurance" is a American Lawyer Media form. The following model form has been provided by permission of Zurich-American Insurance Group and Steadfast Insurance Company for lender environmental insurance.
Mississippi Lender Environmental Insurance
State:
Multi-State
Control #:
US-LEI897
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out Lender Environmental Insurance?
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FAQ
Environmental impairment liability (EIL) insurance is a specialized insurance policy that covers liability and sometimes cleanup costs associated with pollution.
Environmental liability insurance, also known as pollution insurance, provides businesses with liability coverage for environmental risks from pollution exposures, as well as any pollution legal liability and cleanup costs they might face.
A major concern in the market is a great number of insureds mistakenly believe they are covered for pollution releases under their general liability and property policies. However, these policies either restrict or exclude such coverage, leaving their policyholders exposed to potentially costly risks.
Environmental Combined Policy (ECP) Our ECP policy provides liability coverage for bodily injury, property damage and cleanup costs for your environmental contractors and consulting clients. The Contractors Pollution Liability coverage part is available on either a claims made or occurrence basis.
Environmental insurance, more formally referred to as environmental impairment liability (EIL) insurance, can provide cover for these types of liabilities. Any organisation that could cause pollution or otherwise incur responsibility for pollution liabilities should consider the value of environmental insurance.
Here are the common environmental liabilities: #1 Compliance obligations. Compliance obligations are the regulations that guide the manufacture, use, and disposal of chemicals and other harmful substances in the environment. ... #2 Remediation obligations. ... #3 Fines and penalties. ... #4 Compensation obligations. ... #5 Punitive damages.
Site Specific Environmental Impairment Liability (EIL) Policies: Provides third party liability coverage for bodily injury, property damage, clean up and defense costs for pollution escaping beyond the borders of a specified site.
Environmental impairment liability (EIL) insurance is a specialized insurance policy that covers liability and sometimes cleanup costs associated with pollution.