Comprehensive Environmental Response, Compensation, And Liability Act Of 1980 (ercla)

Definition of "Comprehensive environmental response, compensation, and liability act of 1980 (ercla)"

Sandra Lockhart & <br>Lisa Hernandez real estate agent

Written by

Sandra Lockhart &
Lisa Hernandez
elite badge icon

Opes Real Estate Group

Act that makes the liability cost for cleanup joint and several. Even if a party is only partially responsible for losses inflicted, that party may be liable for the payment of the total cost involved in the cleanup. This liability is retroactive without stipulation as to time limit.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Statement showing the amount of money owed the agent by the insurance company, according to the contract he or she has with the insurance company. ...

Coverage for sample merchandise while in the custody of a salesperson. ...

Partition of noncombustible material in a wall of similar material, designed when closed to slow the spread of fire from one side of the wall to the other. The national fire protection ...

Clause in a reinsurance policy that excludes the reinsurer's liability for losses occurring after a stipulated date. ...

Latin phrase meaning "overpowering force"; an unavoidable accident or calamity; an accident for which no one is responsible; an act of god. ...

Judgment decision by the insurance agent concerning whether or not to submit an application. The decision is based on the agent's familiarity with the insurance company's underwriting ...

One of four types of risks affecting the life insurance company as identified by the society of actuaries. This risk is associated with losses that the life insurance company may incur as ...

Independent federal government organization authorized by the employee retirement income security act of 1974 (erisa) to administer the pension plan termination insurance program. Its ...

Act of starting a fire; arson. Arson is a covered peril under a property insurance contract, provided that the owner of the property is not responsible for the arson. ...

Popular Insurance Questions