Provides a financial assurance mechanism to meet the needs for the closure and/or post-closure costs of a regulated waste facility. This policy is for any customer class that owns or operates a landfill, waste treatment unit or hazardous waste treatment storage or disposal facility, and is required to post financial assurance costs to meet the regulatory guidelines under RCRA.
Post-closure means the requirements placed upon disposal facilities after closure to ensure their environmental safety for at least a thirty-year period or until the site becomes stabilized, which means there is little or no settlement, gas production, or leachate generation.
Coverage Options
- Allows for payments directly to the regulatory agency for a full or partial closure and/or post-closure costs
- Pays on behalf of the insured – the company can deal directly with the regulatory agency on behalf of the insured
- Uses a deductible in lieu of a retention for any retained amount
- Modified cancellation provisions to comply with the financial assurance guidelines
- Assists the insured in meeting its financial assurance obligations
- Policy is subject to a guaranty agreement to back the limits of liability offered
Key Features
- Limits of Liability up to $50 million aggregate
- One-year policy term
- $25,000 minimum premium
- Covered locations in US and Canada
- Separate limits can apply to each coverage part
Target Classes
- Environmental facilities
- Landfills
- Recyclers
- Treatment facilities
- Wastewater treatment
- Manufacturing facilities
- Waste storage
- Corrective action obligations
- Healthcare and life sciences
- Medical equipment and supplies
