Environmental Insurance and Risk Transfer

Key Takeaways

• PLL insurance ($2,500-$15,000/year) covers third-party claims, cleanup costs, and legal defense for environmental events.
• Cleanup Cost Cap policies protect against remediation cost overruns—essential for properties with active cleanup.
• Environmental insurance enables transactions that would not close without it by transferring risk to a carrier.
• Use a specialty environmental insurance broker, not a general agent—market access and expertise are critical.