Insurance Legal Liability


Published on

Published in: Economy & Finance, Technology
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Insurance Legal Liability

  1. 1. AIG HIGHER EDUCATION RISK SOLUTIONS ® POLLUTION LEGAL LIABILITY INSURANCE The pollution liabilities of institutions of higher learning can emanate from various sources and may erupt in contamination suddenly or gradually over time. Institutions face potential pollution exposure for contamination caused by a leaking storage tank or mold spreading in dormitories and other facilities. Potential exposure may surface when a pollution condition lurks undetected until breaking ground on a new facility or property. Even the improper handling of potentially contaminating cleaning, pool or laboratory chemicals can create both costly pollution clean-up costs and third party liabilities. All of these diverse environmental risks have one thing in common—they are typically not covered under an institution’s general liability policy. They can, however, be explicitly covered under AIG Higher Education Risk Solutions® Pollution Legal Liability Insurance. Our AIG Higher Education Risk Solutions Pollution Legal Liability policy provides broad coverage for the spectrum of environmental risks that can come with owning or operating a property. Coverage can be tailored to address on- and off-site pollution liabilities, liabilities arising from the trans- portation or disposal of contaminating materials, and business interruption caused by pollution conditions. Insured institutions also benefit from the far-reaching support of dedicated environmental engineers, who help insureds prevent and control losses. Specialized environmental emergency response services can help institutions respond quickly and efficiently to emergencies in order to minimize both the duration of an incident and the resulting damage. Rising to Today’s Challenges AIG Higher Education Risk Solutions Pollution Legal Liability Insurance can be tailored to include: • Coverage for on-site clean-up of pre-existing or new pollution conditions triggered by first party discovery or third party claims • Coverage for third party claims for on- or off-site bodily injury and property damage arising from pollution conditions • Coverage for third party claims for off-site clean-up resulting from pre-existing or new pollution conditions • Coverage for third party claims for on- or off-site clean-up, bodily injury or property damage at scheduled non-owned locations • Coverage for pollution conditions resulting from transported cargo (whether transported by a third party carrier or an owned vehicle) • First party coverage for business interruption, actual loss, or loss of rental value due to on-site pollution conditions • First party diminution in value coverage Preventing Losses, Assessing Exposures, Responding to Crises The services of an experienced environmental engineer eases and expedites the underwriting and application process for our insureds, while also helping institutions prevent and mitigate losses. These engineering services range from risk assessment surveys, to clean-up management, to asset evaluations for mergers and acquisitions. Recommendations can also be provided to assist insureds in complying with environmental laws and regulations. AIG Higher Education Risk Solutions insureds can also take advantage of The PIER II (Pollution Incident and Environmental Response) Program to optimize their response to environmental incidents and help mitigate losses. The program provides immediate access to a nationwide network of emergency and secondary response specialists; a program manager to coordinate program activities; and an advisory board of experts to counsel institutions through incidents. Post-incident oversight and management is also provided. PIER II can be combined with two additional programs: Continued on back
  2. 2. • The Planning and Tracking Response Online (PATROL) program, which provides tools to manage multiple aspects of crisis-related risks ranging from workplace violence to chemical/biological terrorism; and • The Terrorism Threat and Vulnerability Risk Assessment (TVRA), which assists institutions in measuring their susceptibility to terrorist threats. With AIG Higher Education Risk Solutions, institutions also rest assured that their pollution claims will be handled by a team of specialists that has handled and paid more environmental claims than any other in the industry—including some of the largest, most complex claims in history. This team has an unparalleled depth of knowledge of environmental claims and litigation strategies and a proven record of swiftly and effectively resolving environmental matters for insureds. Go To the Head of the Class … With Educators Elite Pollution Legal Liability Insurance from AIG Higher Education Risk Solutions, you can be certain you’re securing excep- tionally stable, large-scale capacity—and coverage backed by the highest financial strength ratings available. AIG Higher Education Risk Solutions draws on the extensive worldwide resources and expertise of the member companies of American International Group, Inc. (AIG), the world’s leading international insurance organizations, to provide higher education institutions with the robust and reliable protection required in today’s perilous claims and litigation environment. For more information, please e-mail, or visit Coverage described in this material may not be available in all states. The product descriptions are not a complete description of all items, exclusions and conditions in the policy. Policy terms may be changed by the insurer from time to time, and the preceding descriptions are not intended to be relied upon by brokers or potential insureds. Brokers interested in any of the captioned products should request a specimen copy of the policy itself for the precise scope and limitations of coverage. Issuance of coverage is subject to underwriting. U.S. risks placed with a surplus lines insurer must be placed in accordance with surplus lines laws and other applicable laws. Surplus lines insurers do not generally participate in state guaranty funds and insureds are not protected by such funds. The surplus lines market is a brokered market providing flexibility in rate and form to meet customer needs for high risk and specialized insurance products. All placements with surplus lines insurers are subject to underwriting by the insurer. Products may not be available in all states. The information contained herein is for general information purposes only and does not constitute an offer to sell or a solicitation. The information provided herein is made available only on request by an insurance professional(s). ® 100 Summer Street . Boston, MA 02110 . 617.330.1100 . HEDHS008 AMSXX 11/06