What type of business is it good for?
Designed for owners, developers or responsible parties seeking balance sheet protection for environmental clean-up activities
Overview
Coverage backed by the exceptional financial strength of AXIS insurance companies
Underwriting team of engineers and scientists with site remediation experience
Expense handling managed as quickly and efficiently as possible
Capabilities
- Coverage provides named insured with balance sheet protection for environmental clean-up activities
- Supports additional work discovered during execution of the remediation
- Protects named insured from professional negligence of their consultants and contractors
- First-party remediation expense – the policy will indemnify the named insured for remediation expenses in excess of the remediation expense forecast, subject to the applicable co-insurance participation and self-insured retention
- Policy includes coverage for remediation of known pollutants and also newly identified pollutants
- Protective professional indemnity – contingent coverage that indemnifies the named insured for damages arising out of wrongful acts by the named insured's consultants, contractors or remediation design professionals
- Defense costs for third-party claims arising out of wrongful acts by the named insured's consultants, contractors or remediation design professional
Optional coverages
- Companion pollution legal liability may be available where remediation insurance is purchased
Target classes
- Merger and acquisition activity
- Commercial real estate ownership, property management
- Lending institutions and portfolio management
- Manufacturing and industrial facilities
- Pharmaceuticals and chemicals
- Food processing and packaging facilities
- Transportation facilities
- Building operators (commercial)
- Commercial warehousing
- Storage and distribution facilities
- Municipalities and other public entities
- Hospitals and other medical facilities
Note: All capabilities (including deductibles, self-insured retentions, limits of liability and minimum premium) are for illustrative purposes only as to products offered by AXIS insurers licensed in the state and not necessarily indicative of the capabilities of any other AXIS company.
Not all insurance coverages or products are available in all states and policy terms may vary based upon individual state requirements. Issuance of coverage is subject to underwriting and coverage depends upon the actual facts of each case and the terms, conditions and exclusions of each individual policy. anyone interested in an insurance policy should request a copy of the policy itself for a description of the scope and limitations of coverage The information on this Website is provided for informational purposes only and is not an offer to sell, or a solicitation to buy, any particular insurance product. No insurance product is offered or will be sold in any state in which such offer or solicitation would be unlawful under the laws of such state. Certain products may be offered by AXIS companies not licensed in your state and therefore may only available through a licensed surplus lines broker. Surplus lines insurers do not generally participate in state guaranty funds and insureds are not protected by such finds, and surplus lines insurers are not always subject to the same insurance regulatory standards applicable to licensed insurance companies.
Documents
Documents
Remediation Management Application REM 0001
Claims
We go further with claims resolution that puts your client first. Utilizing our highly skilled claims specialists to deliver effective resolution that meets your client’s needs. Focusing on:
- Quick decision making
- Championing your needs
- An honest approach
