ENVIRONMENTAL INSURANCE
What is Environmental Insurance?
Environmental liability insurance provides cover for clean-up costs and legal defence. Although it doesn't cover fines, it can cover third-party costs for damage to nearby locations, and potentially compensation for any loss of business suffered as a result.
The losses or damages covered by environmental insurance usually include claims for bodily injury, property damage, cleanup costs, and business interruption resulting from environmental conditions or the company's impact on the environment.
What Does Environmental Insurance Cover?
Environmental liability insurance covers:
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Remediation costs for pollution at insured locations.
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Claims from governmental agencies related to pollution at insured locations.
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Third-party bodily injury, property damage, and remediation costs due to pollution.
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Claims from listed non-owned disposal sites.
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Legal defence expenses for covered claims.
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Natural resource damage claims.
Environmental Insurance Tips
Public liability will not cover damage or bodily injuries to a third party caused by pollution (environmental) due to your company. That is why it is essential to purchase environmental insurance to ensure full coverage.