Site Lender Environmental Asset Protection

The Site Lender Environmental Asset Protection (SLEAP) policy covers lenders on their commercial loans to help protect the collateral value of real property and cover related financial losses that could negatively impact a lender’s bottom line. In the event of both a loan default and the existence of environmental contamination on the collateral property, the policy pays the lender the lesser of the estimated cleanup costs to remediate the property, or the loan balance. In addition, it protects the lender against 3rd party claims for cleanup, bodily injury, property damage, and defense costs associated with the collateral property at all stages of a commercial loan and regardless of whether the loan is in default. It also pays for cleanup costs if the lender first discovers contamination at the collateral property after they foreclose. This is valuable coverage to lenders as it transfers the pollution risk at collateral properties to an insurance company willing to take the risk on. It shores up lenders’ environmental due diligence program on their commercial loans, giving lenders the comfort to sleep at night. 

Up to $10,000,000 

The Site Lender Environmental Asset Protection (SLEAP) policy covers lenders on their commercial loans to help protect the collateral value of real property and cover related financial losses that could negatively impact a lender’s bottom line.