Z Choice® Real Estate Environmental Liability (REEL)
Unknown environmental risks can be deal breakers
Real estate transactions can fail or take much longer to close because the property is impaired by actual or suspected pollution. As a commercial real estate owner, operator, developer or property manager, you may face environmental risks from a variety of exposures, including tenant operations, neighboring properties, historical property use, inadequate housekeeping or other building maintenance practices or property events.
Zurich designed its Z Choice® Real Estate Environmental Liability (REEL) policy to be an effective risk management tool that can not only help you facilitate real estate transactions, but also helps to protect against the environmental liabilities associated with the ownership, operation, development or management of commercial real estate properties.
The Z Choice® REEL policy offers a simplified format with coverage distinct to the marketplace with the inclusion of these three new coverage offerings:
- Crisis Management Expense
Includes expenses for retaining a public relations firm to help maintain or restore public confidence after a pollution event
- Green Remediation
Allows your business to incorporate green cleanup technologies after a covered pollution event
- Green Standards
Enables the repair or replacement of property to comply with green standards, such as the LEED® Green Building Rating System™
*This is intended as a general description of certain types of insurance and services available to qualified customers through the companies of Zurich in North America. Your policy is the contract that specifically and fully describes your coverage. The description of the policy provisions gives a broad overview of coverages and does not revise or amend the policy.
Insurance coverages are underwritten by individual member companies of Zurich in North America, including Zurich American Insurance Company. Certain coverages are not available in all states. Some coverages may be written on a nonadmitted basis through licensed surplus lines brokers.