Axa XL Americas said on Wednesday that they are introducing a protective environmental asset cover, a recommendation specifically designed to protect lenders' financial interests against losses from loans to fixed facilities due to sudden and gradual pollution conditions.
There is. a limit of $ 50 million, according to a spokeswoman.
Axa XL said in its statement that the approval offers terms of up to 10 years with full policy limits and broad definitions of pollution and pollution conditions according to the insurance company's pollution and decontamination policy.  It also provides coverage for the lowest of loan balance or reorganization cost in case of a loan that does not go in; coverage for bodily injury and property damage before a standard scenario; available coverage for mezzanine lenders; and the possibility of providing coverage for a total self-insured retention amount and primarily insurance cover without fee entitlement.