Indoor Pollution

The Problem: Indoor pollution is the main environmental risk to residential housing. Lead-based paint or friable asbestos in older buildings can result in third party liability bodily injury claims, and mold in existing buildings can cause third party and first party property losses. Coverage for such exposures is available under site pollution liability policies as well as first party property policies but is expensive for one house or one apartment building. In addition, such insurance may be difficult to obtain since many environmental insurance underwriters require expensive surveys (which identify and pinpoint the location of existing LBP or asbestos) and O&M plans as part of the application process.

The Solution: EIA can design and provide portfolio SPL coverage for owners or managers of groups of apartment buildings or condominiums. The SPL policy will cover standard environmental pollution as well lead, asbestos or mold related claims. Portfolio coverage is usually much less expensive than if coverage is provided on a per site basis because the portfolio policy can have an aggregate for all sites. Not all environmental insurers require surveys, but if they do EIA can connect the insured with competent consultants who will perform such surveys or O&M plans at reasonable prices. Such portfolio SPL coverage can be combined with first party property coverage from the same insurer which includes “green building” and mold coverage.

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