Environmental
What is 'environmental impairment liability' (EIL) insurance in Delaware commercial real estate?
AWorkers' compensation for employees working near contaminated sites
BInsurance covering third-party claims for bodily injury and property damage resulting from pollution events at or from a covered property✓ Correct
CErrors and omissions insurance for environmental consultants
DTitle insurance covering environmental liens
Explanation
Environmental Impairment Liability (EIL) insurance covers the policyholder (property owner, operator) against third-party claims and cleanup costs arising from pollution events at, on, or from the insured property — protecting against the significant financial exposure of environmental liability.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Math Concepts
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