Presentation Title Here: Use Initial Capitalization
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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
1.
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