ASBG wrote to the EPA to promote the consideration of environmental insurance policies as an alternative or a supplement to bank guarantees in the EPA’s use of financial assurances. An insurance policy can cover all or in part the environmental liabilities that can be covered by a Financial Assurance, with hybrid bank guarantees and insurance polices working together.
The are a number of advantages in use of insurance policies over current practice sureties such as bank guarantees such as much larger liability coverage of unfortuitous events and increased scrutiny and auditing of the sites so covered. The advantage to the site is a lower cost Financial Assurance and the ability to operate at a lower level of risk.
 ASBG’s on Financial Assurances and Environmental Insurance 2014 | 219 kB |
