Great American Insurance Group’s Environmental Division Introduces Storage Tank Owners Program, TankAssure
CINCINNATI – January 13, 2022 – Great American Insurance Group’s Environmental Division is pleased to announce its newest national program, TankAssureSM. TankAssure provides third-party bodily injury and property damage liability coverage, as well as corrective action costs resulting from a release of the contents from the insured’s aboveground and underground storage tanks. The program is designed for many sectors, including but not limited to: service stations, municipalities, warehousing and logistics, aviation, and agriculture.
Obtaining a quote and binding a policy can be achieved in a matter of minutes using the specialty quoting platform, which was created to provide brokers with a fast, efficient and convenient option for binding a policy. Through this quoting platform, the TankAssure program provides storage tank owners comprehensive coverage and may also be used to satisfy financial assurance requirements put in place by local, state and federal government agencies.
“We are pleased to be able to offer a comprehensive storage tank liability policy that provides much more than the financial assurance minimum requirements,” says Kirk Davenport, Divisional Vice President, Great American Environmental. “Our admitted policy is competitively priced and easily accessible to agents through our user-friendly online quoting and binding platform.”
The policy covers the Insured for third-party bodily injury and property damages, as well as first party corrective action costs. Coverage also includes emergency response costs; civil fines and penalties; and 100% additional defense up to $2,500,000.
Multiple resources have been created to assist brokers through the process of submitting a quote and binding a TankAssure policy. With no requirements to submit any documents prior to completing the online application, the Environmental Division aims to provide swift and seamless binding. Additional program benefits include access to an experienced environmental claims handling unit and a nationwide network of emergency response firms, remediation contractors and environmental attorneys.
- Limits of Liability up to $10 million
- Minimum Limits of $500,000
- Policy term of one (1) year
- $225 minimum premium
- Deductible options as low as $2,500
- Admitted product in all 50 states
- Online quoting tool available
Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the D.C., 301 E. Fourth St., Cincinnati, OH. Coverage is summarized. Refer to the actual policy for a full description of applicable terms, conditions, limits and exclusions. For complete coverage highlights and to learn more about TankAssure, please visit GAIG.com/TankAssure.
Great American Insurance Group’s Environmental Division provides a comprehensive portfolio of environmental insurance products to a broad array of industries. All products can be customized to address the specific risks and exposures of the client.
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of “A+” (Superior) affirmed December 3, 2021). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.