PRODUCT: Site Pollution Incident Legal Liability Select (SPILLS)

COMPANY: Ironshore

BEST RATING: A (Excellent)

AVAILABILITY: Coverage is available on an open-brokerage basis.

FOCUS: Ironshore Environmental’s new Site Pollution Incident Legal Liability Select (SPILLS) products pollution enhancement provides an additional option for insureds to broaden their protection for pollution exposure associated with their products and helps fill policy coverage gaps which could exclude bodily injury, property damage and cleanup arising from a product.

With this enhancement, Ironshore now offers a solution for almost all classes of business under either the combined general liability/pollution Environmental Protection Insurance Coverage (EPIC) package program or the new SPILLS offering, says Patrick Grassl, vice president, product line manager, Ironshore.

“While we’ve offered products pollution on EPIC since its launch in 2009, this the first time we’re offering it as a monoline coverage enhancement,” says Maureen Domenicone, vice president, product line manager, Ironshore. “We think this complements the suite of SPILLS coverages available and will help insureds better manage the ever-present and increasing risk of unexpected and potentially costly pollution incidents leading to litigation and environmental enforcement actions.”

Ironshore Environmental introduced the SPILLS insurance program more than a decade ago, providing a suite of asset class-specific protection for complex pollution exposures faced by high-profile global industry sectors.

SPILLS provides customized coverage solutions to address and respond to environmental risk exposures for the educational, health care, hospitality, real estate, oil and gas, and manufacturing sectors.

COVERAGE DETAILS: Coverage is available on a standalone basis but can also be added to a site pollution policy. Multiyear terms are available. The menu-driven SPILLS policy provides up to $50 million in limits, with coverage written on a claims-made basis and including:

• First- and third-party remediation expenses of pollutants on, under or migrating from a covered property
• Third-party bodily injury and property damage, including natural resource damages
• Emergency response expenses, without a sublimit
• Coverage for pollution incidents resulting from first- and third-party transportation
• Blanket coverage for waste disposal activities
• Business interruption
• Broad definition of “pollutants” which includes hazardous materials, petroleum products, mold, legionella and other contaminants

UNDERWRITING: Typical general liability submission information is sufficient to produce a bindable quote for most risks. Requirements include claims made and reported coverage.

MINIMUM PREMIUM: $15,000.

TARGET: Ironshore has a broad appetite for manufacturers and distributors of various products, as well as other classes that have a products pollution exposure.

COVERAGE TERRITORY: All U.S. states.

CONTACT: Patrick Grassl, vice president, product line manager, Ironshore; 617-502-5517. Maureen Domenicone, vice president, product line manager, Ironshore; 504-335-2116.

Jacquelyn Connelly is former IA senior editor.