Closure and Post-Closure

Provides a financial assurance mechanism to meet the needs for the closure and/or post-closure costs of a regulated waste facility.

Financial Assurance in California

This policy is suitable for:

Any customer class that owns or operates a landfill, waste treatment unit or a Hazardous Waste Treatment, Storage or Disposal facility and is required to post financial assurance costs to meet the regulatory guidelines under RCRA.

Policy Benefits

• Allows for payments directly to the regulatory agency for a full or partial closure and/or post-closure costs
• Pays on behalf of the Insured. The Company can deal directly with the regulatory agency on behalf of the Insured
• Uses a deductible in lieu of a retention for any retained amount
• Modified cancellation provisions to comply with the financial assurance guidelines
• Assists the Insured in meeting its financial assurance obligations
• Policy is subject to a Guaranty Agreement to back the Limits of Liability offered

Policy Features

• Limits of Liability up to $50 million Aggregate
• One-Year Policy Term
• $25,000 minimum premium
• Covered Locations in US and Canada
• Separate Limits can apply to each coverage part

Submission Requirements

• GAIG General Application for Environmental Insurance
• GAIG Closure and Post Closure Financial Assurance Supplement
• Last two (2) years audited financial statements and/or 10-K reports
• Copy of Closure and Post Closure plans filed with the regulatory agency
• Latest Risk Control reports