Environmental
In Michigan, 'environmental liability insurance' (sometimes called pollution liability or environmental impairment liability) is used to:
AReplace the need for environmental due diligence
BProvide financial protection against cleanup costs and third-party claims arising from environmental contamination✓ Correct
CSatisfy EGLE cleanup requirements automatically
DOnly cover properties that have already been remediated
Explanation
Environmental liability insurance covers cleanup costs and third-party claims (property damage, bodily injury) arising from pollution conditions. Michigan commercial property buyers, lenders, and developers use it to manage residual environmental risk.
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