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Jayne Cunningham Vice President XL Environmental

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XL Insurance - Environmental Division Northeast Waste Management Officials Association Environmental Workshop March 21st, 2007. Jayne Cunningham Vice President XL Environmental. XL Insurance - History.

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XL Insurance - Environmental DivisionNortheast Waste Management Officials Association Environmental WorkshopMarch 21st, 2007

Jayne Cunningham

Vice President

XL Environmental

xl insurance history

XL Insurance - History

Founded in 1986 by customers for customers, during the most severe liability crisis in insurance history

In 2000, purchased ECS giving XL the second largest environmental market.

A+ rated Carrier, offering a broad complement of specialty products

xl environmental
XL Environmental
  • 1979 – Founded as Environmental Compliance Services, Inc. (ECS); based in Exton, PA. Began in the business offering a full range of Environmental Products to Environmental Waste Industry – GL, Auto, WC, Pollution Legal Liability, CPL for Waste Management Companies, Landfills, Waste Water Treatment Plants etc.
  • 1985 -- MGA for Reliance National.
  • June 1, 1999 -- $225 Million in premium. Acquired by XL Capital
  • 2006 – 2nd largest environmental carrier, superior financial rating, reputation for customer service
insurance products
Insurance Products
  • Pollution & Remediation Legal Liability (PARLL)
    • Four-part coverage form to include:
      • Third-Party Liability: Bodily Injury/Property Damage
      • Remediation Expense: On-site & Off-site
      • Legal Defense Expense (within Limits of Liability)
      • Contingent Transportation
protection for lender
Protection for Lender
  • Real Estate Lenders Policy (RELP)
    • Coverage for Lenders – Borrower defaults on loan resulting from Pollution Conditions that require remediation.
    • Policy covers “Lesser Of” the amount of the outstanding loan balance or the clean-up costs.
supplementary product offerings facilities environmental
Supplementary Product Offerings: Facilities - Environmental
  • Remediation Stop Loss Policy (RSL)
    • “Cap” expected remediation costs
    • Cover property Owners and/or Consultants
    • Not accepting new business without existing relationship.
  • Closure / Post Closure (CPC)
    • Financial mechanism available to government environmental agencies to pay for remediation and/or proper closure of disposal facilities under RCRA.
    • Not currently accepting new mono-line business submissions or requests.
coverage specific to brownfield transactions
Coverage Specific to Brownfield Transactions
  • Pre-existing Conditions:
    • Unknown contamination issues
    • Toxic Tort associated with previous Operations
    • Bodily Injury Associated with Asbestos/Lead
    • Excess of Indemnity Trigger
  • New Operations:
    • Mold Coverage
    • Bodily Injury arising from Asbestos/Lead
    • Business Interruption/Loss of Rents
transactional business demands a coordinated approach
Transactional business demands a coordinated approach…

XL’s Institutional Advantages

  • Integrated group of Underwriters, Risk Control and Claims staff
  • Long term Staff Tenure, High Retention and Experience
  • Excellent Ratings of Financial Strength and Claims Paying Ability
  • Ability to Write Excess Capacity when large limits are necessary
  • Staff Counsel Reviews PSA’s and Other Contracts
  • Staff Risk Control Engineers Work Directly with Underwriters
  • Turn Around Time, as Fast as 1 Day
  • Insurance products for all parties to the transaction, including Lender