A major problem with definitions of environmental terms in commercial and real estate transaction documents is that they become overly inclusive, confusing, and unworkable. A definition of “hazardous materials” which includes virtually every substance known to man in any amount at any concentration, will be impossible to satisfy
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.
By way of background, if you’re a real estate lawyer, you’ll want to understand that environmental law principles as applied in the context mostly derive from established real estate principles, though with a few twists – others can skim through this discussion or even skip it, but you might find it’s interesting. Some of this […]
This is the first of a series of blogs designed to provide a detailed “primer” for the commercial real estate professional and investor. My goal is unlock what some still see as the mysterious world of environmental risk in the sale or lease of virtually all non-residential properties; more importantly, how do you do it […]
Pollution exclusions were first introduced in insurance policies beginning in the early-1970‚ to remove any doubt that may have existed in connection with coverage for damage caused by pollutants which were released as a normal part of the insured‚ business operations. By the late-1980‚ however, most insurance policies included ‚ absolute‚ pollution exclusions.
A typical Commercial General Liability (CGL) insurance policy includes two duties: (1) the duty to defend; and (2) the duty to indemnify. The duty to defend, when triggered, obligates the insurer to provide the insured legal counsel to represent them and to defend them from claims, including claims that may ultimately prove to invalid, or […]
A typical Commercial General Liability (CGL) insurance policy covers claims made by third parties for damages the insured party is legally obligated to pay as the result of an “occurrence” resulting
5. Any claim by any injured person for the costs of cleanup and removal and direct and indirect damages based on the strict liability imposed by this section may be brought directly against the person who has discharged the petroleum, provided, however, that damages recoverable by any injured person in such a direct claim based […]
4. (a) The only defenses that may be raised by a person responsible for a discharge of petroleum are: an act or omission caused solely by (i) war, sabotage, or governmental negligence or (ii) an act or omission of a third party other than an employee or agent of the person responsible, or a third […]
3. (a) The owner or operator of a major facility or vessel which has discharged petroleum shall be strictly liable, without regard to fault, subject to the defenses enumerated in subdivision four of this section, for all cleanup and removal costs and all direct and indirect damages paid by the fund. However, the cleanup and […]
