Environmental Insurance

Immoterrae has developed Environmental Insurance for Real Estate Development in collaboration with Marsh Environmental Practice. This insurance policy specifically covers the environmental risks for real estate development.

This policy provides cover for:

  • the transactional environmental risks when buying a piece of land (for example, the risk that unknown contamination is discovered on or next to the piece of land, etc.);
  • the risks of causing contamination during the development (for example, contamination when demolishing buildings, spreading contamination when painting a building's external surface, negative impact on the bio-diversity, etc.);
  • the transactional environmental risks of the final purchaser/user, who acquires as a business or person the final rights of use of the project (for example, unexpected additional cleaning-up costs on a restored piece of land as a result of a change in legislation or of the discovery of unknown contamination, of bodily harm being caused, etc.).

The Environmental Insurance for Real Estate Development protects the economic viability of a real estate development project. This protection covers the very disparate sources of environmental damage and their financial impacts, which have been caused by the very rapid development of environmental liability laws.

This policy can also offer a solution in sales negotiations where neither buyer nor seller wants to accept liability for the environmental risks, and will also help to make your project more attractive to buyers.

The Environmental Insurance for Real Estate Development is a framework policy. It is defined in detail in consultation with the insured party in the light of the project's requirements.