Periconi, LLC Environmental Blog

Cost-Cap insurance policies pay for costs that exceed the estimated cost of a remedial plan.  These policies typically have large “co-insurance” and deductible provisions, so that the insured must still pay a significant portion of the cost overruns.  Policies are also available to cover contractors and consultants for environmental liabilities.

New York’s Oil Spill Act, Article 12 of the New York Navigation Law, provides a natural and attractive starting point for people seeking to recover cleanup costs for petroleum spills. The Act imposition of strict liability holds out the promise of avoiding litigation over events and states of mind for which little or contradictory evidence […]