Great American’s Environmental Division was launched in 2008 and is one of the few carriers serving the environmental industry with such longevity. As we enter a new decade with our valued brokers, agents and insureds, we look forward to continuing the work we value the most: keeping businesses strong, and in turn, our world clean for generations to come.
- Great American Insurance Company Issues its first policy.
- Rising concerns for the environment led to a number of federal and state laws regarding liability for environmental clean-ups.
- Pollution exclusion was enforced under GL for gradual events which indicated that GL policies were not intended to cover pollution that the insured party intended or expected to produce.
- New Environmental Regulations (RCRA, CERCLA) financial requirements were enforced. CERCLA, commonly known as Superfund, is passed to fund cleaning of the nation's most polluted sites. These new regulations imposed liability for cleanup on polluters, who sought protection under their GL policies.
- Initial Pollution Legal Liability (PLL) Policy for sites entered the market which allowed for limited coverage and annual terms.
- Hard market with only one environmental pollution carrier in the industry.
- The market slowly begins to increase with several environmental carriers entering the field. Pollution Legal Liability coverage expands to include on-site coverage and Contractors Pollution (CPL) policy is developed on a claims-made basis.
- Market continues to expand with several new carriers emerging: Occurrence CPL, Professional Liability added, Multi-Year PLLs, Cost- Cap coverage, Closure/Post Closure.
- Great American debuts a new corporate logo and acquires the naming rights to Great American Ball Park, the new home of the Cincinnati Reds, which brings national visibility.
- The 2002 Small Business Liability Relief and Brownfields Revitalization Act (the “Brownfields Amendments”) to CERCLA, required EPA to promulgate regulations establishing standards and practices for conducting “All Appropriate Inquiries” (AAI).
- Throughout the mid-2000s, environmental coverage continues to evolve with the market offering pollutants expansion to include mold, lender only policies, historical only site coverage, EMF, radioactive, non-certified Terrorism, etc.
- Great American Insurance Company reaches 100 consecutive years of earning an "A" or higher ranking from AM Best.
- Environmental Division forms in Plymouth Meeting, PA with a staff of six under Divisional President, John Reynolds, with Mark Vuono serving as Chief Underwriting Officer.
- We begin to offer coverage on international exposures.
- Our loss limits increase to $50 million per loss, with a $100 million policy aggregate limit.
- The Fishing Charter event for agents and brokers kicks off to become a popular annual celebration of collaboration and support.
- We publish the first issue of the Environmental Insider.
- Mark Vuono is appointed Divisional President.
- Financial Strength: As an A.M. Best “A+” (Superior) rated company (rating affirmed September 11, 2019), Great American Insurance Company is dedicated to providing the best coverage and service for brokers and their clients when an event occurs.
- Our efforts with Align General represented our expansion into the GL market! Great American Environmental is proud of the successful debut of our first product collaboration with a managing general agent (MGA).
- Products Pollution was added to our suite of environmental products - specifically designed for manufacturers and distributors of various products including but not limited to paints and chemicals, metal goods, automotive parts, machinery and machinery parts, plastic and rubber goods, and other commercial products.
- We will continue our expansion of various webinars and virtual resources such as our new Claims Scenario Library and Interactive Riskopolis to better assist you in informing your clients of environmental dangers.
- Mark Vuono Celebrates 40 years within the Environmental Industry.
The Environmental Division has been recognized by executive management at Great American Insurance Group for outstanding service and performance to the company for nine consecutive years.