Cascade’s Insurance Coverage

Cascade retains the service of an independent agent to provide expertise in determining our insurance needs. Certificates of Insurance are available upon request. Our agent, Derek Laczniak of M3 Insurance, is available to answer any questions about our policies with Travelers and Crum and Forster (Pollution coverage) by calling 608.288.2752.

Our insurance policies typically renew each September. Current coverage and policy limits include:

General Liability …………………….$1,000,000 each occurrence, $2,000,000 aggregate
Excess Liability (umbrella)……….$5,000,000
Automobile Liability ……………….$1,000,000 each occurrence, $2,000,000 aggregate
Worker’s Compensation …………statutory ($500,000)
Crime (Fidelity Bond)………………$1,000,000 each occurrence
Pollution Liability……………………$5,000,000 aggregate
Cyber/Errors & Omissions……….$10,000,000 aggregate (includes provisions for data breach)

Cascade increased its Cyber/E&O coverage from $5M to $10M on 1/16/2020.

Cascade’s Experience Modification Rate is 0.88 as of September, 2020. Anything below a “1” means a company is better than its peers in relation to workers’ compensation claims and safety.

Closure and Financial Assurance programs

Cascade has also developed closure plans and secured external funding sources to cover the cost of winding down each facility in the event the facility is closed or the business is no longer a going concern. The closure cost is determined at least annually through a review of the current costs for processing and cleanup and the maximum amount of inventory Cascade can store on site.

Currently, the closure funding secured for the Indianapolis facility is $35,000 and for the Madison facility is $50,000. Copies of the closure plans and financial assurances are available to customers upon request.

Why is closure funding important?

If your electronics recycling provider goes out of business and leaves behind unprocessed equipment, you may be liable under Superfund law. Read more about cases where businesses were held liable for the cleanup of improperly disposed e-waste and how to protect your liability from Chubb.