The date of loss also can be the date the insured receives a notice from an environmental agency. A third type of notice of loss clause will include both of these. Notice of loss can be made by the insured, by the receipt of some official contact by any one or more of about 15 environmental agencies, or a suit brought by someone other than a government agency. These different loss notices can be very important. Many times an insured is aware of a potential loss situation even though no one has presented a claim.
Years can elapse between the actual date of an incident and the time that a claim is presented.
One factor that can compound the situation is when years elapse between the date of an incident and the time that a claim is presented. If the same insurer is providing the coverage during all of this time, the following situation does not apply. On the application for a new environmental insurance policy, there is a question regarding whether the insured is aware of any incident or pending incident that could lead to a claim. I recommend not changing insurers if there is a known incident that has the potential of leading to a claim. In the event the insurer at the time of the incident is unwilling to provide renewal coverage, you may be faced with placing protection with a different insurer.