Pollution Liability
What is Pollution Liability Insurance?
What Is Pollution Liability Insurance Coverage?
Pollution liability insurance is also sometimes called environmental liability insurance. While you may think it is only for industries like energy, power and manufacturing, this type of coverage is needed in many types of businesses and industries. What is seen as a safe practice today may have long-lasting consequences which may lead, many years later, to the downfall of a business. Pollution liability insurance is designed to protect your business both today and in the future.
How Does Pollution Liability Work?
Traditional business liability insurance policies (CGL) do not provide coverage for pollution and other environmental issues, so it is important to have environmental insurance that is designed for the specific needs of your business. Some of the coverage types which can be part of your overall risk management include pollution liability, environmental professional liability, storage tank pollution liability, contractors’ liability and transporter insurance. Environmental impairment liability insurance is often used in the sale or investment of a business to assure potential purchasers or investors that unknown conditions won’t present an issue in the future. With proper coverage, your business can be protected against environmental claims, cleanup costs, and claims of bodily injury or property damage.
First party property losses are addressed by Premises Pollution Liability policies which are designed to protect insureds from pollution losses related to property that they own, rent or occupy. Environmental Liability Insurance is coverage for legal fees and judgments arising from third party claims of damage caused by pollution from the business.
Two types of policies cover third party liability pollution losses. Contractors Pollution Liability coverage provides both indemnity protection and defense of claims in which a pollution incident is alleged to be the fault of an entity engaged in building, developing and general contracting. Pollution coverage added to an Errors and Omissions insurance policy for Engineers and Architects can protect them from allegations of a pollution related loss caused by their work. Pollution liability insurance for truckers is also important when taking into account the hazardous materials many truckers haul throughout the country.
What Type of Businesses Can Benefit From Pollution Liability Coverage?
You might be surprised by the types of businesses that need this type of coverage. Obviously manufacturing companies which manufacture or use toxic substances will benefit. Commercial property owners and developers, local governments and amusement parks can also benefit greatly by having this type of insurance protection.
Types of businesses which have this coverage include:
Manufacturers
Agribusinesses
General contractors
Remediation firms
Hospitals and healthcare facilities
Landfills, disposal and recycling facilities
Municipalities
With the bulk of our clients being in industries needing environmental insurance, we have extensive knowledge and experience with insurance companies offering these coverages at very competitive rates. Our highly dedicated and experienced brokers will help you assess your risks and propose alternate risk management strategies. Contact us today for more information.
Want a Free Pollution Liability Insurance Quote?
Grow Green Insurance offers unique pollution liability solutions such as:
• Specialty carriers for every industry
• Preferred pricing through partnered relationships
• “Pay What You Want” in Broker Fees