Transcript Presentation Title Here: Use Initial Capitalization

XL Insurance - Environmental Division
Northeast Waste Management Officials Association
Environmental Workshop
March 21st, 2007
Jayne Cunningham
Vice President
XL Environmental
XL Insurance - History
Founded in 1986 by customers for customers, during
the most severe liability crisis in insurance history
In 2000, purchased ECS giving XL the second largest
environmental market.
A+ rated Carrier, offering a broad complement of
specialty products
XL Environmental
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1979 – Founded as Environmental Compliance Services, Inc. (ECS); based
in Exton, PA. Began in the business offering a full range of Environmental
Products to Environmental Waste Industry – GL, Auto, WC, Pollution Legal
Liability, CPL for Waste Management Companies, Landfills, Waste Water
Treatment Plants etc.
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1985 -- MGA for Reliance National.
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June 1, 1999 -- $225 Million in premium. Acquired by XL Capital
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2006 – 2nd largest environmental carrier, superior financial rating,
reputation for customer service
© 2005, XL Insurance, a member of the XL Capital group, All rights reserved
Insurance Products
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Pollution & Remediation Legal Liability (PARLL)
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Four-part coverage form to include:
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Third-Party Liability: Bodily Injury/Property Damage
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Remediation Expense: On-site & Off-site
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Legal Defense Expense (within Limits of Liability)
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Contingent Transportation
© 2005, XL Insurance, a member of the XL Capital group, All rights reserved
Protection for Lender
2.
Real Estate Lenders Policy (RELP)
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Coverage for Lenders – Borrower defaults on loan
resulting from Pollution Conditions that require
remediation.
Policy covers “Lesser Of” the amount of the
outstanding loan balance or the clean-up costs.
© 2005, XL Insurance, a member of the XL Capital group, All rights reserved
Supplementary Product Offerings:
Facilities - Environmental
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Remediation Stop Loss Policy (RSL)
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“Cap” expected remediation costs
Cover property Owners and/or Consultants
Not accepting new business without existing relationship.
Closure / Post Closure (CPC)
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Financial mechanism available to government environmental
agencies to pay for remediation and/or proper closure of
disposal facilities under RCRA.
Not currently accepting new mono-line business submissions or
requests.
© 2005, XL Insurance, a member of the XL Capital group, All rights reserved
Coverage Specific to Brownfield
Transactions
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Pre-existing Conditions:
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Unknown contamination issues
Toxic Tort associated with previous Operations
Bodily Injury Associated with Asbestos/Lead
Excess of Indemnity Trigger
New Operations:
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Mold Coverage
Bodily Injury arising from Asbestos/Lead
Business Interruption/Loss of Rents
© 2005, XL Insurance, a member of the XL Capital group, All rights reserved
Transactional business demands a coordinated
approach…
XL’s Institutional Advantages
Integrated group of Underwriters, Risk Control and Claims staff
Long term Staff Tenure, High Retention and Experience
Excellent Ratings of Financial Strength and Claims Paying
Ability
Ability to Write Excess Capacity when large limits are
necessary
Staff Counsel Reviews PSA’s and Other Contracts
Staff Risk Control Engineers Work Directly with Underwriters
Turn Around Time, as Fast as 1 Day
Insurance products for all parties to the transaction, including
Lender
© 2005, XL Insurance, a member of the XL Capital group, All rights reserved