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Site Lender Environmental Asset Protection (SLEAP)

Our SLEAP product covers lenders of commercial loans secured by real property.

What we offer

Key Coverages 

  • In the event of a pollution condition and a loan default, pays the lesser of the outstanding loan balance or the estimated cleanup cost
  • 3rd party bodily injury and property damage
  • New and existing pollution conditions 
  • Known and unknown pollution conditions 
  • Known and unknown storage tanks 
  • Transportation, non-owned disposal site liability (blanket locations) 
  • Covers business interruption should the lender foreclose on the property 

Additional Coverages 

  • Protection against third-party claims for cleanup, bodily injury, property damage, and defense costs associated with the collateral property at all stages of a commercial loan, regardless of whether the loan is in default. 
  • Covers cleanup costs if the lender first discovers contamination at the collateral property after a foreclosure. 
  • Can cover a single property or a portfolio of properties secured by a single loan. 
  • A great alternative to conducting a Phase II ESA to address environmental concerns. 
  • The policy can be transferred to purchasers of the loan.

How can we help

Our 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. This is valuable coverage to lenders as it transfers the pollution risk to an insurance company willing to take the risk on. It shores up lenders’ environmental due diligence program, giving lenders the comfort to sleep at night. 

Who we can help

  • Banks
  • Savings and loan companies
  • Credit unions
  • Private equity firms
  • Life insurance companies
  • Real Estate Investment Trusts (REITs)
  • Any institution which originates commercial real estate secured loans 

The Beazley Difference

  • Expert underwriters with technical backgrounds and hands-on experience in the field 
  • Deep understanding of environmental exposures 
  • A global underwriting team that works collaboratively with brokers and insureds 
  • A focus on complex and hard to place risks 
  • Consistent appetite which is broader than most other insurers 
  • Bespoke policy wordings for the client’s industry and environmental needs 
  • Dedicated claims managers to work with clients throughout the entire claims process 

Your Beazley Team

Jenny Han

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Jenny Han

Focus Group Leader - Environmental

San Francisco, CA, USA

+1 (415) 263 4073

Email Jenny

Greg Dunn

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Greg Dunn

Underwriter - Environmental

Philadelphia, PA, USA

+1 (215) 446 8415

Email Greg

Chris Biddle

Chris Biddle

Chris Biddle

Underwriter - Environmental

Philadelphia, PA, USA

+1 (215) 446 8416

Email Chris

Courtney Keeney

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Courtney Keeney

Underwriter - Environmental

San Francisco, CA, USA

+1 (415) 263 4068

Email Courtney