Account Profile: Site Pollution for a Metal Recycling Facility
PartnerOne Environmental recently wrote Site Pollution Liability (EIL) for a $5.5M auto salvage & metal recycling facility with multiple properties (retail, warehouse, and recycling facility). The insured used to carry EIL years ago and then let coverage lapse, losing their retro date. Contractual obligations are now in place that are requiring them to provide evidence of pollution coverage, prompting the need for a policy to be put in place again.
Upon examination of the site, PartnerOne was able to evaluate the exposures, primarily onsite contamination of site soils from heavy metals, petroleum products, and other automotive waste (e.g., coolant, waste oil, etc.). With neighboring properties being mixed light industrial and residential, there is a potential for vandalism, damage, and/or theft that could cause a release.
PartnerOne wrote a $1M/$3M limit EIL policy for $7,771. We provided a very fast turnaround time for this account, getting the necessary approvals & quotes on a same-day basis during the holidays.
Happy New Year from PartnerOne Environmental
As we head into 2018, we want to thank you for your partnership and give you a quick update on some of our numbers from last year:
- We worked on 4,767 environmental accounts.
- We placed coverage on 2,791 accounts.
- Our renewal retention (premium): 87.6%
We look forward to another successful year working with you! Please don’t hesitate to contact us with any questions or requests
Recent Success Stories
- $10M Steel erection and construction company purchased a $2M/$2M CPL/E&O policy for $13,000.
- $30M Window installation contractor purchased CPL with Mold ($2M/$2M) for $17,300.
- $1M Environmental drilling, soil, and groundwater remediation contractor purchased GL/CPL ($1M/$2M) and a $4M Excess policy for a total of $32,824. This is a NJ domiciled risk doing work in NY State. Came from a carrier that changed their appetite on NY business and we were able to offer the coverage they needed with no NY Labor Law exclusions.
- $500k Demolition and abatement services company purchased GL/CPL ($1M/$2M) for $15,000.
- $75M General contractor purchased a $5M/$10 CPL policy for $44,931.
- An airport with 12 aboveground storage tanks purchased Storage Tank Pollution Liability ($1M/$2M) for $8,249.