Commercial Lending Coverage Solutions
LENDER LIABILITY
Lender Liability policy provides protection for lenders, banks, loan originators, financial institutions and investors that hold or invest in loans backed by commercial real estate. The Lender Liability policy affords a lender protection against third-party claims and prepayment of either the outstanding loan balance of a mortgage or the cleanup costs associated with contamination after a borrower has defaulted on a loan and subsequent contamination is identified.
Coverages:
1st Party Claims: The policy provides first-party Clean-up Costs and associated Defense costs coverage for claims made after the lender has foreclosed on the covered location(s).
3rd Party Claims: The policy will provide coverage for third-party Bodily Injury and Property Damage claims, including Defense costs, caused by a pollution event from the covered
location(s).
POLLUTION LIABILITY
Pollution Liability provides protection for claims arising from bodily injury, property damage, cleanup costs and defense costs as a result of a pollution event on, at, under, or emanating from an insured's scheduled location. This coverage can also be extended to pollution conditions resulting from the transportation of waste or products, as well as to non-owned disposal site-related environmental liabilities. Through this coverage option both the borrower and the lender may be named as Insureds, thereby offering protection for all of the interested parties through one policy.
Coverages:
1st Party Claims: The policy pays on behalf of the Insured(s) first-party Clean-up Costs and associated Defense costs coverage for claims made upon the discovery of a pollution event.
3rd Party Claims: The policy indemnifies Insured(s) for third-party Clean-up, Bodily Injury and Property Damage claims, including Defense costs caused by a pollution event at the covered location(s).
Additional coverages resulting from the pollution events, such as Business Interruption, Transportation and Non-Owned Disposal locations, may be afforded.
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The JCH Difference
When you trust your company’s environmental risk management to JCH, you can rest assured that we have designed a customized risk management program based on all the information, and that the solution we offer is specifically designed to help your company meet its business objectives.
