Chubb Environmental Solutions
Environmental Site Liability Insurance
for buyers and sellers of property
W
hether you’re a seller looking to help reduce or eliminate the requirement for
collateral to support environmental provisions contained in an underlying sales
agreement or a buyer who needs help to protect against loss as a result of a pollution
discovery at a property you’re hoping to purchase, Chubb’s Environmental Site Liability
insurance offers valuable assistance. It can even help protect in cases where a pollution
problem is already known.
Customer Profile
Environmental Site Liability insurance helps protect buyers and sellers in mergers,
acquisitions or divestitures, including:
• Commercial property owners
• Property developers
• Real estate portfolio owner/managers
• Real estate investment trusts (REITs)
• Schools and colleges/universities
• Manufacturers
Coverage as Easy as A, B, C and D
Chubb’s Environmental Site Liability insurance offers four insuring agreements to
provide the needed protection:
Coverage A
Addresses liability for bodily injury, property damage (including natural resource
damages and diminution in value) and remediation costs arising from known or unknown
pre-existing pollution incidents at or migrating beyond an insured site. Also addresses
first-party remediation costs.
Coverage B
Addresses liability for bodily injury, property damage and remediation costs arising from
new pollution incidents at or migrating beyond an insured site. Also addresses first-party
remediation costs.
Coverage C
Addresses liability for bodily injury, property damage and remediation costs resulting
from pollution incidents at or migrating beyond an insured site that is neither owned nor
operated by the insured, such as a warehouse, waste transfer station or disposal facility.
Coverage D
Pays for business interruption expenses resulting from pollution incidents at an insured
site that suspends operations at that site.
Product Highlights
Concerns imperil sale
Chubb’s Environmental Site Liability insurance provides the flexibility of a nonadmitted policy form
and addresses the unique needs of a wide range of companies. Highlights include:
• Primary insurance coverage
• Designated insured sites can be located anywhere in the world
• Multiyear policy terms
• Discovery trigger for on-site cleanup
• Remediation costs include restoration costs
• Protection for releases from active or inactive storage tanks
• Optional mold coverage subject to individual account underwriting
An international chemi-
Experienced Insurance Underwriting
the purchase and
Chubb Environmental Solutions provides an experienced team of environmental and business
professionals – including underwriting, engineering and legal specialists – who develop insurance
programs that meet your company’s unique needs.
sale agreement a
Valuable Loss Control Recommendations
Chubb maintains a global network of loss control professionals who have the technical skills and
industry-specific knowledge to offer practical and cost-effective suggestions for loss control and
disaster planning. Our environmental specialists have completed course work in environmental
sciences, environmental law, site assessments, hazardous waste and/or ISO 14000 training. Our loss
control recommendations can help customers reduce the probability of loss and improve the odds
that, if a loss does occur, its severity is minimized.
cal corporation was
selling a manufacturing
facility. Because of
concerns over possible
soil and groundwater
contamination, the
buyer included in
requirement that
the seller obtain an
Environmental Site
Liability policy. Chubb
issued a policy with
limits of $10 million
and a 10-year policy
term, naming both
buyer and seller as
Responsive Claims Service
insureds and allowing
Chubb has built an unparalleled reputation for treating customers fairly and providing
responsive customer service. If you have a claim, you can be confident of receiving superior
service 24/7.
the sale to proceed.
Property reveals past
Enduring Financial Strength
A buyer wanted to
Chubb’s strong balance sheet and superior credit rating are assurances of our enduring financial
1
strength. Agents and brokers consistently rank Chubb at the top of the insurance field , and
customers have chosen Chubb for more than a century.
purchase property with
a flower shop located
on it. Phase 1 assess-
1. Goldman Sachs U.S. Research Property/Casualty Insurance Rate Survey of Producers, February 24, 2004.
ment revealed that the
site had once been a
For past, present and future protection, Chubb Environmental Solutions is your
essential resource. To get more information about Chubb’s Environmental Site
Liability insurance for buyers and sellers of property, call your insurance agent
or broker.
retail gas station. The
seller was required to
provide an indemnity
agreement to pay for
pollution that might
be discovered. The
purchase was in doubt
until Chubb provided a
five-year Environmental
Site Liability policy
insuring the buyer
against future claims
for on-site cleanup of
historical but unknown
Distribution of this literature is limited to licensed surplus lines brokers. This literature is descriptive only.
Actual coverage is subject to the language of the policies as issued.
Chubb Custom Market refers to Chubb Custom Market Inc., 55 Water Street, New York, NY 10041.
Chubb Group of Insurance Companies
Whitehouse Station, New Jersey 08889
www.chubb.com
Chubb refers to the following member insurers of the Chubb Group of Insurance Companies:
Chubb Custom Insurance Company, Executive Risk Specialty Insurance Company, Federal lnsurance
Company, Great Northern Insurance Company, Pacific Indemnity Company and Vigilant Insurance
Company. Chubb Custom Insurance Company is an eligible surplus lines insurer in all states except
Delaware and New Jersey, states in which it is an admitted insurer. Executive Risk Specialty Insurance
Company is an eligible surplus lines insurer in all states except Connecticut, where it is an admitted insurer.
Not all insurers do business in all jurisdictions.
Form # 66-01-0003 (Ed. 2/05)
contamination.