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AVAILABLE ON V²

Storage Tank Liability

Releases of pollutants from commercial storage tanks pose some of the most complex risks a business can face, often resulting in substantial financial repercussions.

Protection for storage tank system releases

Our storage tank liability program offers specialized coverage for third-party bodily injury and property damage resulting from pollutant releases from both underground and above-ground tanks. Additionally, the policy includes coverage for cleanup costs associated with any releases from a storage tank system.

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Coverage highlights

Check out our coverage highlights sheet for availability, target markets, policy features and more!

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Agent/broker resources

Get online quotes with V²

  • Register or log in to V² to get started
  • Check out our V² Playbook for guidance on how to get a quote, and for information on registration, billing, FAQs, support and more. 

See it in action! Watch our recorded demo that provides guidance on how to get a quote.

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Please send completed applications to 

 

Availability:

  • In all 50 states and D.C.

Limit:

  • Up to $5M

Minimum premium:

  • $500

Targer market:

  • Service stations, independent fuel companies, bulk plants and farming
  • Construction companies, trucking companies and commercial tenants
  • Private airports, marinas and municipalities
  • Convenience stores, gas bars, auto dealerships, auto repair facilities, and car rental agencies
  • Multiple unit residential building owners.

Coverage:

  • Coverage available for single-location/single tank and multi-location/multi-storage tanks 
  • Storage tank systems –bodily injury or property damage
  • Storage tank systems – clean-up cost or corrective action
  • On-site clean-up 
  • First party clean-up for pollution incidents not related to a storage tank system (optional coverage part for eligible business classes)

Policy features:

  • Claims-made and reported policy form
  • Defense costs outside the limits of liability
  • Retroactive coverage
  • Deductibles up to $25,000 available
  • Coverage for storage tanks located in the U.S.

Service:

  • Fast and easy online payment portal available for agency billed policies 
  • Ability to get Financial Ability Form with issuance of policy
  • Ability to quote online with V²

Gasoline contamination
Gasoline from a leaking underground storage tank contaminated a service station’s site and also migrated onto neighboring property and drinking water wells via the storm sewer.

Oil release
A trailer storing barrels of oil at a manufacturing facility flipped over when a support leg failed, resulting in a release of oil from the damaged barrels.

Fuel supply line broken by fallen ice
A release from an exterior above ground fuel tank occurred as a result of ice falling from an adjacent roof onto it and breaking the fuel supply line between the storage tank and boilers.

Equipment leak
A piece of machinery was moved from the shop floor at a manufacturing plant as part of a process line re-organization, at which point a leak was discovered emanating from the equipment into an unsealed trench pit.

Accidental discharge of diluted residual material
A manufacturer of industrial cleaning compounds experienced an accidental discharge of approximately 16,000 liters of diluted residual material from an on-site blending tank into a storm sewer and neighboring river.

Contact the private company management liability team directly at private.us@victorinsurance.com or connect with your business development contact.

Policyholder resources

To get a quote, please submit a completed application through your existing insurance broker. Your insurance broker will then work with our underwriters to provide you with a quote.

If you need assistance in securing an insurance agent/broker, you can use our find an insurance agent/broker tool. 

Applications:

In the event of a claim, policyholders should report all pollution incidents to:

Aspen Specialty Insurance Management, Inc

T: 646-502-1000

F: 646-502-1020

E: environmental.claims@aspen-insurance.com

24/7 Emergency Response: 1-866-287-5146

 

A high-level overview of our coverage

Discover all of our Storage Tank Liability program's key benefits and coverage features here.

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