CarbonProtect

Carbon Sequestration Tax Credit Protection

The decision to invest in Carbon Capture and Storage (CCS) technologies is one that should not be taken lightly considering the immense financial and environmental risks that accompany it. Though the reward can be great, it is crucial to ensure your client is protected from these risks in all capacities, from start to finish.

Whether the operations are capturing CO2 from an industrial source or directly from ambient air, it’s essential to monitor compliance, prevent leakage, and understand the specific criteria to maximize the financial incentive.

Businesses can turn their commitment to carbon capture and sequestration into a competitive advantage by aligning financial incentives with environmental goals. By doing so, they can contribute to a more sustainable future while also benefiting their bottom line.

Great American's One Integrative Solution for Carbon Sequestration

CarbonProtect Policy Benefits

• Accredited professionals working hand-in-hand to secure coverage for all aspects of your clients' operations
• Ability to offer manuscript policy forms to meet specific client needs
• Financially strong paper – "A+" (Superior) rating from A.M. Best
• M&A policies backed with a dedicated team of seasoned underwriters, legal, tax and accounting experts to provide highly customized coverage
• Dedicated environmental claims handling unit and nationwide network of emergency response firms, remediation contractors and environmental attorneys

CarbonProtect Policy Features

• Mergers & Acquisitions: 10-year terms, 45Q Tax Coverage up to $50M
• Environmental Pollution: Terms structured with automatic renewals mirroring set M&A terms (3-year renewal basis)
• Specialty Construction: Workers’ compensation, general liability on projects $200M+; minimum SIR of $100k

CarbonProtect Fact Sheet

Mergers & Acquisitions

Our streamlined decision-making process allows us to be highly responsive and flexible as deals evolve. Using that knowledge and experience, our policies are backed with a dedicated team of seasoned underwriters, legal, tax and accounting experts to provide highly customized coverage.

Coverage Highlights

• Transactional Risk—Tax Indemnity Insurance that provides financial protection to an insured arising from a taxing authority’s successful challenge to the insured’s claim to Section 45Q Tax Credits, due to:
• a failure to meet qualification requirements for carbon sequestration
• a failure to qualify for tax credit enhancements
• carbon dioxide leaking from underground storage into the atmosphere
• an inability to transfer 45Q credits to investors

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Environmental Pollution

We have been committed to providing best-in-class insurance solutions for over 16 years—one of the few carriers serving the environmental industry with such longevity. Our team of experts strives to handle each submission and policy with accuracy, efficiency and accountability. Our top priority will always be to provide the best service and coverage to our brokers’ clients with one-of-a-kind market products.

Coverage Highlights

• Financial Assurance
• Premises Pollution Legal Liability
• Project Specific Contractors Pollution Legal Liability

Submission Requirements

• GAIG General Application for Environmental Insurance.
• Most recent environmental reports for a GAIG Supplement Application for Premises Environmental Liability Insurance.
• Past three (3) years loss history.
• Last two (2) years financial statements and/or 10-K report.
• Cumis Counsel where entitled by law.

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Specialty Construction

Our Specialty Construction Division provides loss-sensitive practice policies and wrap-up solutions to the construction industry focusing on workers’ compensation and general liability insurance for general contractors, large trade contractors and owners. Experts from the division are also available to work in tandem with the Mergers & Acquisitions and Environmental teams as needed.

Coverage Highlights

• General Liability and Workers’ Compensation coverages for projects of $200M and greater.

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