What is Environmental Consulting Insurance?
Environmental consulting often involves ensuring that clients comply with environmental regulations. Environmental consultants insurance protects consultants and their businesses against allegations of negligence, claims for damages, and protection from pollution and other environmental exposures.
These policies are usually issued on a “claims-made” basis. This means that coverage is triggered when a claim is filed, and you report it to the insurance company since it is often hard to identify when the alleged error or omission initially occurred. An insured’s work will be covered dating back to the earliest date of the continuous professional liability coverage. Policies typically have a one-year term, with an annual premium and deductibles on a per-claim basis.
Who Qualifies For Environmental Consultants Insurance?
Professionals such as:
- Above-ground and underground storage tank installers
- Air quality, mould, and asbestos consultants
- Construction managers
- Environmental audit consultants
- Environmental compliance consultants
- Environmental engineers
- Environmental permit consultants
- Environmental testing laboratories
- General contractors
- Geologists
- Phase I/II/III investigation consultants
- Subcontractors
- Waste brokers
In addition to environmental consultants insurance, professionals in this space should also consider contractors’ pollution liability and commercial general liability policies to ensure all exposures are covered. Often, all can be bundled into a single package policy with the same insurer to avoid gaps and/or duplication.
Frequently Asked Questions
What specific activities are covered under environmental consultants insurance?
Environmental consultants insurance covers various activities, including soil sampling, laboratory analysis, and inspections. It ensures that any environmental consultant-performed tasks are protected against claims of negligence or errors.
What should I do if a claim is made against my environmental consulting business?
- Notify your insurance provider to report the claim.
- Collect all relevant documents related to the claim.
- Consult with legal counsel provided by your insurance company.
- Provide necessary information and cooperate fully with the investigation.
- Maintain detailed records of all communications and actions taken.
Get a quote now or contact an ALIGNED Insurance commercial insurance broker at 1-866-287-0448 today to obtain a quotation for your environmental consultants insurance.
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