What is Environmental Liability Insurance?
As a business owner, you may not be familiar with environmental liability insurance, however, awareness for this coverage is growing. Environmental liability insurance protects your property from pollutions events that start on your property or losses suffered from pollution on someone else’s property that migrates on to yours.
The lean up of pollutions events is only one of the benefits of pollution insurance…did you know that a wide range of pollution exposures could shut down your business? Moreover, it can cause damage to third parties, causing expensive and time consuming cleanup costs which you could be held liable for.
You should be aware of the risks for your business. As well as government regulations and compliance guidelines around pollution claims, resultant damage, and cleanup associated with an environmental incident. Additionally, proper insurance coverage from ALIGNED can save you from financial and business losses.
There are two categories of environmental liability insurance:
Premises Pollution Liability
Premises pollution liability insurance provides cleanup and third party liability coverage for premises owned or operated by the named insured.
Who Needs Premises Pollution Liability?
Premises pollution liability is beneficial to many businesses including, but limited to manufacturers, gas stations, municipalities, golf courses, universities, and waste management, just to name a few.
Premises pollution liability coverage from ALIGNED includes the following:
- Third party clean-up expenses, bodily injury and property damage resulting from a pollution event.
- First part clean-up expenses.
- Gradual and sudden accidental pollution for events such as fire, explosion or sudden spill. As well as seepage.
- Pollution from waste materials.
Contractors Pollution Liability
Contractors pollution liability is a type of environmental liability insurance for construction contractors who perform work on third party premises where they may be in jeopardy of causing an environmental incident. It provides coverage for work on or around sites.
Who Needs Contractors Pollution Liability?
The coverage is beneficial to general contractors, restoration and carpentry contractors, tank maintenance and installation, painter contractors, excavation, and fuel and water haulers/management…just to name a few.
Contractors Pollution Liability Coverage from ALIGNED includes the following:
Environmental contractors pollution liability insurance coverage is specifically designed to provide liability coverage for “pollution related” risks effectively third parties, but also to help cover remediation of property you own and/or occupy too and typically can include:
- Gradual, sudden and accidental pollution.
- Government ordered clean-up.
- Third-party liability (off-site clean-up).
Contractors pollution policies can also include an E&O extension if the contractor is involved in environmental consulting, or designing remediation plans.