Environmental and Pollution Insurance
Many residential and commercial buildings face a silent catastrophe waiting to happen: the leaking of fuel from both above and underground storage tanks. Pollution is specifically excluded or limited under the General Liability section or in General Liability policies. The cost to clean up spills can range from $10,000 to millions of dollars before any lawsuits are lodged.
Building Owners Face The Following Risks:
- It Is Incredibly Expensive To Clean Up Fuel Spills.
- Building Owners Are Subject To Pollution Lawsuits That Are Costly To Defend.
- Absolute Liability Is Placed On The Building Owner Under Navigation Law.
- Building Owners Are Subject To Pollution Lawsuits That Result In Large Awards.
Mackoul & Associates, Inc., is happy to have designed and implemented the
RECOVER Environmental Pollution Insurance Program.
Coverage Highlights Includes:
- $2 million limit of liability including on and offsite cleanup expenses
- Spills occurring during routine filling of the tank
- Gradual and accidental spills from the tank system
- Any necessary corrective action to clean up the contamination
- Compensation for bodily injury and property damage to third parties for which the injured is legally obligated to pay
- Legal defense where it is needed for the above situations
- Restoration of property, such as a parking lot, in the event it must be removed to cleanup the contamination
- Lead paint liability available as part of policy
Qualifying Classes of Business for RECOVER Environmental Pollution Insurance Program:
- Cooperatives, Condominiums, Apartment Buildings, Garden Apartment Complexes
- Commercial and Office Buildings
- Insureds utilizing above or below ground storage tanks
The coverage information outlined herein is a guideline only; refer to the actual policies for full terms, conditions, exclusions, and limitations
For information regarding RECOVER- Environmental Pollution Insurance Program, or other coverages that may not be listed, email us at email@example.com.