RT Specialty PLL Limit of Liability Benchmarks

RT Specialty’s Environmental and Construction Professional Practice (RT ECP) recently reviewed its book of business during 2020 and 2021 to determine the limits of liability on the Pollution Legal Liability (PLL) policies typically purchased by virtually every industry that owns, leases, acquires or divests real estate. The analysis that represented more than 25 industries showed most of these customers had policy limits of liability of $15 million or less, while only a handful exceeded the $20 million benchmark.
“The overall demand for PLL policies has increased dramatically,” says Jeff Slivka, president of RT ECP. “This coincides with the upward trajectory of the microbial matter, disinfection expenses and soil and groundwater contamination challenges faced by the commercial, habitational real estate; manufacturing; healthcare and institutional marketplaces.
“The problem is that it can take tens or even hundreds of millions of dollars to rectify problems that can range from spills to massive, legacy environmental challenges. This benchmark was designed to provide brokers and agents with a better understanding of the average limits of liability purchased by each industry and the potential need for greater coverage, especially in several of these high-risk sectors.”
Pollution Legal Liability (PLL) is a risk management tool commonly used to facilitate contaminated property transactions and buoy the balance sheets of large real estate assets. A claims-made coverage, it is commonly used to manage on- and off-site clean- up and remediation expenses as well as third-party bodily injury and property damage claims.
Going forward, RT ECP expects the demand for PLL to grow as the nation continues to emerge from the COVID-19 pandemic and the number of site development deals, mergers & acquisitions, and private equity activities continue to rise. Other influencers include the spending related to the $1T Infrastructure Bill and increased frequency of pollution and environmental-related claims.
For more information on this analysis or RT ECP, please visit https://rtspecialty.com/product/environmental-construction-professional-liability/ or 609-298-3516.
About RT Environmental & Construction Professional
RT Environmental and Construction Professional (RT ECP) is a part of the RT Specialty division of RSG Specialty, LLC, a Delaware limited liability company based in Illinois. RSG Specialty, LLC, is a subsidiary of Ryan Specialty, LLC. RT ECP provides wholesale insurance brokerage and other services to agents and brokers. RT ECP does not solicit insurance from the public. Some products may only be available in certain states, and some products may only be available from surplus lines insurers. In California: RSG Specialty Insurance Services, LLC (License # 0G97516). © 2022 Ryan Specialty, LLC
For more information, please visit rtspecialty.com or call 609-298-3516.

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