Covers new and historical pollution sites, third party bodily injury and property damage, diminution in value of the collateral after foreclosure, emergency response costs, and public relations fees.

Our Environmental Premises Commercial Lender policy is specifically tailored to protect secured creditors from liability arising out of known and unknown pollution conditions at the insured real estate.

Policy Benefits

  • Coverage for remediation of secured real estate
  • Coverage for the lesser of the estimated remediation costs or remaining loan balance following a default
  • Coverage for third party bodily injury and property damage
  • Coverage for diminution in value of the collateral
  • Coverage for business interruption
  • Coverage for emergency response costs
  • Additional limit for legal expense
  • Public relations coverage
  • Insured entities include special and master servicers and trustees
  • Assignable to subsequent purchasers of the loan

Policy Features

  • Limits of liability up to $50 million for each pollution condition; $100 million aggregate limit
  • Policy term up to thirteen (13) years
  • $5,000 minimum premiums
  • Covers locations in the U.S. or Canada

Submission Requirements

  • Past two (2) years of the borrower’s audited financial statements
  • Commercial mortgage loan documents plus any applicable environmental indemnity agreements
  • The Credit Memorandum
  • All environmental site assessments and property conditions assessments