Environmental Impairment Liability
Definition of "Environmental impairment liability"
Negligent acts and/or omissions by the individual (s) and the organization (s) resulting in damage to the environment. For example, pollution of the environment suits against manufacturers are quite common today. The pollution risk is an excluded uninsurable risk under most liability policies; however, insurance coverage in some instances is becoming available under environmental impairment liability (EIL) insurance policies.
Popular Insurance Terms
Type of trust used to remove assets from a surviving spouse's estate, thereby excluding such assets from federal estate tax upon the death of the surviving spouse. This type of trust allows ...
Property owned by two or more parties in such a way that at the death of one, the survivors retain complete ownership of the property. ...
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Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for real property. This special form provides only minimum cover, leaving the option for ...
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