New Day Announces Ironshore SPILLS Form

Ironshore Introduces Healthcare Site Pollution Incident Legal Liability (SPILLS) Select Form

With the frequent introduction by carriers of new forms, form updates and the mass quantity of forms available, allow New Day Underwriting Mangers to assist you in tackling the challenge of understanding and navigating the available forms to ensure your insureds receive the most appropriate and comprehensive insurance program possible. New Day understands the challenges and complexities involved with sifting through all of the available forms. Backed by our expertise in the industry and longstanding relationships with the various carrier teams, we stand ready to work with them to create the optimal environmental risk management solutions for your insureds.

Ironshore has introduced their Healthcare Site Pollution Incident Legal Liability Select (SPILLS) form, a comprehensive environmental insurance policy that assists healthcare facilities in managing their environmental exposures. This form may be used with a wide variety of industrial, commercial, and habitational real estate, specifically targeting hospitals, assisted living, skilled nursing, hospice services and other medical facilities. The SPILLS form provides unique coverage for the healthcare community including third-party claims for bodily injury, property damage and remediation expenses as well as first-party remediation expenses. Following are coverage highlights including features, benefits and the classes of business ideal for the SPILLS policy form.

Claims-Made Premises Pollution Liability

Six Coverage Parts:

Coverage A - third-party claims for bodily injury, property and remediation expenses - applies on-site for pre-existing and new conditions
Coverage B - first-party remediation expenses including first-party discovery - applies to pre-existing and new conditions
Coverage C - emergency response expenses including first-party discovery and third-party liability
Coverage D - business interruption including first-party discovery and third-party liability
Coverage E - disinfection event expenses including first-party discovery
Coverage F - evacuation expenses including first-party discovery

Features

Up to $30 million limit of liability
Minimum deductible: $25,000 @ $1 million limit of liability
Minimum premium: $10,000 @ $1 million limit of liability
Policy Term: Up to 10 Years
Disinfection expenses
Evacuation expenses
Emergency response expenses (without a sublimit)
First- and third-party transportation coverage
Broad definition of pollutants including mold, legionella and medical, biological, infectious and pathological wastes
Third-party bodily injury and property damage
Coverage is provided for pre-existing and new conditions
No need to schedule properties. All environmental liability of the healthcare facilities are covered, unless specifically excluded

Benefits

Disinfection and evacuation expenses are not otherwise available in environmental marketplace
Ease of placement - minimal underwriting and information is required for placement

Target Classes

Hospitals
Assisted Living
Skilled Nursing
Hospice Services
Other Medical Facilities

The above is only a brief overview of the Ironshore Healthcare Site Pollution Incident Legal Liability Select (SPILLS) form. The information contained above has been provided by New Day Underwriting Managers LLC for general discussion purposes. The information is not offered for the purpose of providing exact coverage terms or conditions. Policies should be reviewed to understand all coverage terms and conditions.

If you have any questions regarding the Ironshore SPILLS Form or its applicability to your insured, please call Carole A. Carretta, Assistant Vice President, New Day Underwriting Managers LLC at 609.298.3516 Ext. 117 or email Carole.Carretta@newdayunderwriting.com.

33 Third St., Suite 201

Bordentown, NJ 08505

609.298.3516