Closure and Post-Closure
Did you know your clients have options when fulfilling their Closure and Post-Closure (CPC) obligations?
If your client is unable to meet their CPC obligation through traditional methods or is seeking an alternative approach, Great American Environmental’s CPC policy can provide a financial assurance mechanism to fulfill it.
If your client currently meets their CPC obligation through an escrow account, covering that with insurance is a suitable option in most states. The advantage for the insured is that they can, instead, use the escrow money for other purposes and meet the CPC requirements through an insurance policy. Typically, the amount of money in an escrow account is much greater than the annual premium for an insurance policy.
If your client meets their CPC obligation through a letter of credit, a CPC insurance policy is a suitable option in most states. That credit amount can then be used for other operations of the client, instead of being dedicated to the CPC financial obligation and therefore not otherwise available to the client.
Clients have the ability to meet their CPC obligation through a financial self-test, however, those metrics can be difficult to meet each year. Again, insurance is a suitable alternative in most states if a client is no longer able to meet the financial self-test.
Download the Closure and Post-Closure Did You Know Flyer