What You Need to Know about Pollution and Environmental Liability Insurance
Traditional Commercial General Liability Insurance policies do not cover pollution and environmental hazards. An environmental insurance policy does and can be tailored to your specific business and its risks. Environmental Insurance policies can be customized to cover pollution liability, environmental professional liability, contractors’ liability, transporter insurance and storage tank pollution liability. Environmental impairment liability insurance can be used as a tool to assure lenders supporting the purchase or development of property, or to assure potential purchasers of your company that unknown conditions are covered. With the right pollution coverage, you are protected against environmental claims, including pollution abatement, cleanup costs, and claims of bodily injury or property damage.
Pollution and environmental liability insurance isn’t just for oil companies and nuclear plants. As we learn more about the environment and the effects of commercial businesses, restrictions will likely increase and your responsibilities will continue to grow. Pollution insurance can protect your business in two important ways:
Which businesses should have environmental insurance coverage?
A wide range of businesses can benefit from pollution and environmental liability insurance, including commercial property owners, developers, and agribusinesses. Entities that should strongly consider pollution insurance include: