Environmental liability buyout

{
  "id": "MLC-T-INS-001332",
  "term": "Environmental liability buyout",
  "field": "Insurance and risk management",
  "definition": "A transaction where a third party, often an insurer or a specialized environmental risk management firm, assumes responsibility for a company's existing or potential environmental liabilities. This involves transferring the financial and legal burden of environmental cleanup or compliance to the third party. It provides a mechanism for companies to divest themselves of long-term environmental risks.",
  "url": "https://mlchart.com/terminology/insurance/environmental-liability-buyout/"
}