PRODUCT: Environmental premises liability
COMPANY: OneBeacon Environmental, OneBeacon Insurance Group
BEST RATING: A (Excellent) Homeland Insurance Company of New York/Homeland Insurance Company of Delaware (non-admitted)
AVAILABILITY: Coverage is available through appointed agents and brokers.
FOCUS: Mercury spills at an apartment complex. A pool chemical releases at a hotel, restaurant and theater. A storage tank at a gas station leaks 10,000 gallons of fuel. Office workers get sick after exposure to fumes from water treatment equipment.
These news headlines highlight the reality that environmental accidents happen every day in communities across the country. And while most are unexpected, they can devastate a business. OneBeacon’s environmental premises liability coverage helps businesses manage these unexpected exposures.
“Environmental exposures can be incredibly costly to the insured’s finances, reputation and community,” explains Pam Edgington, product line manager at OneBeacon Environmental. “And it’s often excluded from general liability policies.”
OneBeacon Environmental has enhanced its environmental premises liability policy by expanding coverage to offer flexible, comprehensive coverage for the pollution exposures property owners, operators and managers face. For environmental facilities, such as transfer stations, wastewater treatment facilities and recycling centers, pollution coverage is often required in order to obtain operating permits.
“While awareness of the environmental issues associated with owning or operating property has increased over time, we are seeing more contracts requiring environmental premises liability coverage from clients, vendors and landlords,” Edgington says. “All are looking to protect their businesses, their investments and themselves in the event of a pollution incident.”
UNDERWRITING: Coverage and limits are tailored to individual risks. Options include on- and off-site cleanup costs; first-party discovery and third-party liability; third-party liability claims for bodily injury and property damage from pollution conditions; transportation pollution liability for owned vehicles and by third-party carriers; and non-owned disposal site liability and contractors’ pollution liability for off-site work performed by or on behalf of the named insured.
The policy responds to sudden and accidental pollution conditions, as well as gradual, and includes emergency response costs, which allow for costs incurred by the insured. The definition of pollutants includes low-level radioactive waste, electromagnetic fields, silt and sediment, and viruses and bacteria, including Legionella pneumophiila.
MINIMUM PREMIUM: Usually $3,000.
TARGET: Owners, operators and managers of commercial real estate, manufacturing properties and environmental facilities. This includes airport hangers, automotive sales and service facilities, commercial and retail properties, commodity recycling facilities, contractors’ equipment yards, educational facilities, electronic recycling and refurbishing facilities, landfills and transfer stations, light industrial and manufacturing locations, medical offices, research and development facilities, residential properties, self-storage facilities, warehouse and distribution facilities, wastewater treatment facilities, waste treatment facilities, and recreation locations, including golf courses and marinas.
COVERAGE TERRITORY: All U.S. states.
CONTACT: Pam Edgington, assistant vice president and product line manager; OneBeacon Environmental, 188 Inverness Drive West, Suite 600, Englewood, CO 80112; 303-531-3906.
Ronimarie Acord is an IA contributor.
