What are Packaged Environmental Coverages?
Packaged insurance coverages combine various lines with a shared limit and/or aggregate. Examples include Commercial General Liability/Contractors Pollution Liability plus Professional, CPL and Professional, or General Liability and Premises Pollution. Combining these coverages can create a substantial cost savings for the client.
How do they work?
- Coverage usually based off of the CGL Pollution Coverage Part.
- Packages can then add Contractors Pollution (sharing the same limit).
- Benefit is that it provides coverage that fills much of the CGL pollution exclusion gap.
- Packages can then add the Professional Liability (sharing the same limit).
- Again, the benefit is having the same carrier provide coverage typically excluded from the CGL.
- Package can also cover Premises Specific Pollution Liability, Over the Road Pollution, Storage Tanks, and more.
- Coverages are written with combinations of triggers, depending on options selected.
- Various retentions depending on lines chosen.
- All coverages share one aggregate.
Optional coverage enhancements:
- Can be packaged with Products Pollution.
- Mold/fungus coverage may be offered.
- Prior Claims Made Nose coverage.
- Separate defense limits.
- Non-owned disposal site coverage.
- And many others…