Environmental Impairment Liability insurance meaning

When is environmental insurance appropriate? Environmental insurance may warrant consideration in the following situations: an environmental assessment identifies significant and serious concerns regarding contamination environmental indemnity negotiations have reached a stalemate there are ongoing concerns about the covenant strength of the indemnifying party insurance is required by funders, tenants, or to improve the saleability of a high‑risk site See Practice Note: Environmental insurance—when is it needed? What type of policy? The usual form of cover in share purchase transactions is a ten‑year fixed‑site policy, often referred to as an Environmental Impairment Liability (EIL) policy or a Premises Pollution Liability (PPL) policy. It can provide protection for the insured parties against regulatory action or third party...

When is environmental insurance appropriate? Environmental insurance may need to be weighed up carefully in the following scenarios: an environmental report flags significant concerns about contamination environmental indemnity negotiations have reached an apparent impasse there are ongoing concerns over the covenant strength of the indemnifying party insurance is required by funders, tenants or to support the saleability of a high risk site See Practice Note: Environmental insurance—when is it needed? What type of policy? The usual insurance in asset purchase transactions is a ten‑year fixed site policy, often referred to as an Environmental Impairment Liability (EIL) Policy or Premises Pollution Lability (PPL) Policy...