(b) In order to qualify for the environmental remediation insurance tax credit provided for under section twenty-three of the tax law, the insurance must be written pursuant to the provisions of paragraph thirteen or fourteen of subsection (a) of section one thousand one hundred thirteen of this chapter and contain any of the following coverages or substantially similar coverages or combination of coverages:
(1) coverage for the costs of on-site clean-up of pre-existing pollution conditions from the insured property which are outside the scope of the remedial work plan pursuant to section 27-1411 of the environmental conservation law for such insured property;
(2) coverage for third-party claims for on-site bodily injury and property damage resulting from pre-existing pollution conditions outside the scope of such remedial work plan for the insured property;
(3) coverage which caps clean-up costs relating to such remedial work plan; and
(4) coverage for the costs of state re-openers pursuant to section 27-1421 of the environmental conservation law or modifications to such remedial work plan to fill any gap in any liability limitation provided pursuant to section 27-1421 of the environmental conservation law for environmental conditions.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.