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

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 for annual policy
  • 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