In recent years there has been considerable focus on the availability of new insurance products to address the risks posed by environmentally impaired properties. As a general matter, there are two types of products, those that cover third-party liability claims and those that are triggered when the cost to clean up environmental contamination exceeds a specified trigger.
In this article, Albert M. Cohen examines the pros and cons of considering these insurance products when dealing with property that may be contaminated.
Albert M. Cohen is a partner in the Los Angeles office of Loeb & Loeb LLP and has more than 25 years of experience handling complex environmental cases and transactions. He can be reached at email@example.com.