In the building and construction industries, there can be substantial risks to the environment brought about by the actions of a firm. Remediating the damage can be extremely costly too. That’s where environmental liability insurance comes in.
What does environmental liability insurance cover?
Environmental liability insurance covers your business against claims brought on by domestic and European legislation as well as common law claims. Pollution, clean-up costs and nuisance claims are some of the common risks covered.
Other insurable events include actions that have a negative effect on neighbouring property prices and propagation of dust into the atmosphere and surrounding environment form works carried out on site.
Environmental liability insurance covers pollution and contamination that arises suddenly and accidentally, as well as ongoing, gradual pollution. Historical pollution and contamination can also be covered, and policies are usually bought with a one-off purchase that runs for a set period.
Doesn’t my public liability Insurance cover this?
Most standard types of business insurance do not cover pollution and contamination, and if it is included on a policy, it is usually very limited. Any associated clean-up costs will almost certainly not be covered by other, more general types of insurance.
Environmental liability insurance might not be applicable to every sector, but for sectors like construction, transport and manufacturing, it should be considered an essential part of your insurance cover.
Because of the complex nature of environmental liability claims and legislation, no two schedules of cover are the same. Policies are tailored to the business and specific insured perils that they face.
To speak to one of our award-winning insurance experts about environmental liability insurance, call 0345 862 2727 or contact us online.