Important update on GSRMA Pollution and Remediation Legal Liability (Pollution) coverage
GSRMA member agencies are afforded pollution coverage through the CSAC-EIA’s (EIA) Pollution Program. The EIA coverage placed with Tokio Marine Specialty Insurance Company (Philadelphia Insurance) will expire on July 1, 2018. Better pricing was able to be achieved with a new carrier, Illinois Union Insurance Company (Chubb), so the coverage with Tokio Marine Specialty Insurance Company (Philadelphia Insurance) will not be renewed.
There will be no lapse or interruption of coverage, but it is extremely important that any currently known incidents, accidents or conditions that could give rise to a pollution claim be reported to GSRMA prior to July 1, 2018.
Pollution/Remediation Legal Liability policies are written on a “Claims Made and Reported” coverage form which means that all claims and all known incidents that could give rise to a claim must be reported to the company during the policy period or during any extended reporting period in order for coverage to apply.
Any claims or known incidents that could give rise to a claim in the future need to be reported to Tokio Marine Specialty Insurance Company (the prior carrier) before July 1, 2018. We strongly recommend that you check with anyone in your entity that may know of, or have heard of any claims or incidents that could give rise to a claim to be reported. There is no penalty for reporting any claim or known incident. For your convenience, you should report incidents to GSRMA and we, in turn, will report them to the appropriate carrier.
Please contact GSRMA at (530) 934-5633 or email@example.com to report an incident or if you have any questions.