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Closure/Post
Closure Insurance Program
The Closure and Post Closure Insurance policy is designed for regulated
facilities with financial assurance obligations. The policy offers
an insurance alternative to traditional mechanisms such as bonds,
letters of credit, and trust funds. This policy allows the insured
to provide a financial assurance mechanism without reducing available
credit critical for future operations, minimizing the allocation of
operating capital and credit for financial assurance. We can structure
this program so that companies can make payments over a longer period
to satisfy the requirements of the state while freeing up needed capital
and credit used for operations. This policy usually required of landfills,
transfer, disposal, treatment and storage facilities, as well as manufacturing
can be endorsed to cover cost overruns associated with closure and
post closure. Using an insurance policy to cover closure and post
closure costs allows the insured to deduct those costs (due to the
fact that insurance policies are a direct expense item).
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