Carbon sequestration, also known as carbon capture and storage (CCS), is a process that aims to reduce greenhouse gas emissions, particularly carbon dioxide (CO2), from industrial processes and power plants. By participating in carbon credit markets, companies can earn tax credits through Section 45Q of the US tax code for reducing their carbon emissions.

The carbon sequestration process is a costly investment, with each element of the process—capture, transport and storage—bringing its own unique risks. Great American’s newest integrative solution, CarbonProtect, allows market experts from each division to work together to manuscript complementary products based on the organization’s needs.

CarbonProtect brings together industry leaders from the Mergers & Acquisitions team, Environmental team and, as needed, Specialty Construction team to provide expertly crafted, tailored coverage that helps safeguard your client’s operations. We recognize every organization has its own unique operations, so rather than offering a one-size-fits-all product, our market experts will work together to quickly and efficiently manuscript complementary products based on your client’s needs.

• Environmental Pollution: Financial Assurance; Premises Pollution Legal Liability; and Project Specific Contractors Pollution Legal Liability coverages.
  
  

• Mergers & Acquisitions: Transactional Risk - Tax Indemnity Insurance that provides financial protection to an insured arising from a taxing authorities successful challenge to the insured’s claim to Section 45Q Tax Credits, due to:
  • Failure to meet qualification requirements for carbon sequestration
  • Failure to qualify for tax credit enhancements 
  • Recapture of 45Q credits due to carbon oxide leaking from underground storage into the atmosphere 
  • Transfer of 45Q credits to investors not being respected
    
    
• Specialty Construction: General Liability and Workers’ Compensation coverages for projects of $200M and greater

• CarbonProtect Fact Sheet

• CarbonProtect Storyboard
• Representation & Warranties
• Closure/Post-Closure
• Tanks
• Premises

For more information on policy capabilities and submission requirements, please fill out our CarbonProtect form or contact one of our experts below.

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