Most people don’t realize that pollution liability is not covered under a general liability policy. Here we share some important information so you can make an informed decision about whether you need pollution liability insurance for your business.
What is a Pollution Liability Insurance Policy?
Pollution Liability Insurance, also commonly referred to as “environmental insurance,” helps protect businesses from unexpected pollution exposures that may not be covered by standard casualty and property policies.
What does a Pollution Liability Policy cover?
Pollution Liability Insurance policies cover claims from third parties against bodily injury and property damage caused by hazardous waste materials released during a company's business operations. This insurance covers you while you are completing a job, and also covers your completed operations.
Who needs a Pollution Liability Policy?
Companies whose business and operations involve risks to hazardous waste exposure, such as waste depository or asbestos abatement, need pollution liability insurance. Even if you own an industrial site not involved in hazardous waste, pollution liability insurance still could be a good protection to have in your insurance program.
Even though most owners inspect the properties they buy before purchasing, you may have missed some underlying hazardous waste that could be discovered years later, leaving you potentially responsible. Environmental laws are always changing, and you don't want to be caught without the proper liability protection.
Business owners and independent contractors have to make sure their financial interests are adequately covered - if you think you may have a risk of hazardous waste exposure in your business operations, contact our insurance experts at firstname.lastname@example.org to discuss whether or not you need pollution liability insurance.
Remember, you can’t add this policy to your program after an incident occurs at one of your sites or operations - so now is the time. Our experts are here to shift the balance in your favor. Get Fulcro.