News From Beacon Hill – November 2016

Account Spotlight: Auto Dealership & Repair Businesses

Every type of auto dealership and repair facility is unique and will have its own set of challenges; however, there are two major types of insurance products that will respond to most of the environmental issues that auto dealer & repair facilities face:

Premises Pollution Liability (EIL) is the primary product that is designed to provide coverage for auto dealer/repair facilities. The policy is designed for locations that these insureds own or rent and provides First and Third Party Liability Clean Up coverage, as well as Third Party Bodily Injury and Property Damage coverage. This product can be enhanced to provide coverage for First Party Business Interruption in the event of a pollution release.

Contractor Pollution Liability (CPL) is another insurance product that applies to auto dealer & repair facilities if they offer any of their services on their owned or rented premises. It provides coverage for pollution conditions caused by the insured in the performance of operations for others. This will include environmental incidents that the auto dealer/repair shop may create or exacerbate on the way to or at other dealerships or repair shops. It can also be endorsed to cover upset and overturn over the road. The policy is designed to provide Third Party Liability coverage in response to claims for Bodily Injury, Property Damage, or Cleanup costs.

Additionally, Beacon Hill’s exclusive Enhanced Fuel Solutions program should be considered for dealer/repair insureds. This product is designed to be flexible, including full Site Pollution coverage and storage tank coverage that requires evidence of financial responsibility.

These products can be enhanced to provide coverage for claims stemming from the disposal of waste, including waste oil, fuel, cleaning products, paints, thinners, etc. that result in claims against the insured for bodily injury, property damage, or cleanup costs.

For more information on coverage or to discuss a specific account opportunity, contact us.

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Sharing is Not for Everyone: Limits on Multiyear Policies

Typically, when we review accounts, we discuss coverages needed, limits available, deductibles offered, and what seems to be most important—premium. An item often overlooked is the policy period… Read more.

Product Highlight: Contractors Pollution Liability/E&O

Contractors face professional liability issues from construction management services, job site modifications, and other daily activities… Read more.

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Recent Success Stories

  • $18M General contractor purchased a $5M/$5M CPL/E&O policy for $38,468.
  • $1.75M Environmental consultant purchased GL ($5M/$5M) and CPL/E&O  ($2M/$4M), including Mold and Hired and Non-Owned Auto for $31,800.
  • $45M General contractor purchased a 2-year CPL/Mold/TPL/NODs/EIL policy ($1M limits) for $22,188.
  • A plumber with a $5M project purchased CPL/Mold/TPL/NODS ($10M limits) for $4,416.
  • $20M Pipeline contractor CPL/TPL/NODS ($10M policy) for $27,347.
  • $5.2M Company specializing in soil Excavation/grading, snowplow services, with some demo & asbestos abatement in New York purchased a $1M/$2M CP policy for $6,200.
  • $865 Restoration contractor specializing in mold and asbestos purchased GL/CPL/E&O and a $1M Excess policy for a total of $9,800. Coverage includes Mold, TPL, and NODS.
  • $8M Landscaping company purchased CPL ($1M/$2M), including Sudden & Accidental Premises Pollution Liability and NODS for $6,250.