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Overview

Different industries have different environmental exposures and risks. Some business operations have heightened environmental exposures from their air emissions, oil or chemical spills, waste management or water discharge from cleaning or cooling operations.

In addition to paying for costs related to evaluating the extent of cleaning up environmental damage, businesses also face new liabilities to compensate society for the damage done and reimburse it for “loss of use” until the environment is restored. These are complex areas where financial implications have yet to be quantified by actual judgments.

Our range of environmental insurance solutions can address our client’s environmental exposures in a more comprehensive way. With AIG’s excellent underwriting team and high capacity, we can provide expert decision making and added value consultancy services.

Product highlights

Features and benefits

Our environmental policies do not distinguish between sudden & accidental and gradual pollution; they cover both.

Customized coverage

Programs involving multiple locations can be tailored to address diverse needs of the portfolio (even if some properties require different combinations of coverage)

Risk preparedness

This policy can help close real estate transactions that might otherwise go awry due to the uncertainty of environmental conditions or historical usage.

Easy process

Clean and easy to read policy with streamlined coverage and can help facilitate the efficiency of a sale.

Who is it for?

Pollution Legal Liability is a flexible, comprehensive cover that helps businesses address the growing environmental exposures from heightened levels of public awareness and evolving environmental regulations. It enables companies to provide solution for the costs of clean-up, bodily injury and damage caused to other peoples' property. It also provides coverage for losses related to pollution releases, while responding directly to regulatory obligations, contract/lender/landlord requirements, shareholder needs, and board objectives.

What is covered?

We offer global environmental capacity of up to US$50 million per policy, covering a broad range of risks over single or multi-year policy terms. Coverage includes:

  • Sudden and gradual pollution conditions
  • On and off-site clean-up costs for pre-existing and/or new conditions
  • Third-party bodily injury and property damage
  • First-party business interruption expenses related to a pollution condition
  • Legal costs including investigations, defense costs, settlements and legal proceedings arising from pollution or environmental damage
  • Pollution releases caused by the transportation

How to make a claim?

When you buy insurance from AIG, you can have confidence that we stand ready to help you recover quickly when the unexpected happens. The claims operation that underpins every AIG policy is one of our greatest strengths, with a strong local claims team backed by our global network of expertise to support you when you face a loss.

For claims associated with Pollution Legal Liability, please reach out to your insurance broker to assist you. Or, you may contact us at:

Phone: +63 2 878 5456

Email:    phlweserve_CML@aig.com

Click below to learn about the necessary documents needed in order to submit a claim. 

The Insured must:

•          Give immediate notice to the Company with full particulars which includes copies of Incident Report, summons/complaint and other pertinent documents;

•          Act as prudently uninsured and take all steps within its power to minimize the loss or damage;

•          In all instances, never admit nor repudiate liability, negotiate or make any admission, offer promises or payment in connection with any incident or accident or claim without the written prior consent of the Company.

•          Cooperate with the authorized representative of the Company in the conduct of investigation.

•          Allow the Company to have complete control in the conduct of negotiation and settlement of any claim.

•          Refer all letters and communications to the Company without either admitting liability or attempting to repudiate.

•          Submit all pertinent documents

Points to consider:

•          Pollution Legal Liability policy is triggered by environmental impairment which may cause third party bodily injury and/or third part property damage.

•          In case an occurrence is considered a covered claim, the defense cost is also triggered; subject to the Policy’s Terms and Conditions.

How claim is settled?

•          Settlements are usually based on the actual cost incurred in the treatment of third party bodily injury or cost of repair/reinstatement of damaged third party property to its original state prior to the incident.

•          Financial loss suffered by a third party following an occurrence, subject to presentation of relevant documents

•          Awards and/or consequential consideration as ordered by the Court, excluding uninsurable award/s.

•          Any award/compensation/settlement agreed by all parties. 

 

 

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