Pollution Liability Insurance
Pollution insurance is a type of insurance coverage that covers costs related to pollution. This Insurance can include liability for injuries and deaths caused by pollution and the costs of cleanup. Pollution insurance usually takes the form of first-party coverage for contamination of insured property either by external or on-site sources. Intentional acts are specifically excluded.
Why is Pollution Liability Coverage Is Needed?
This type of coverage protects your business in the event a clean-up as a result of your business practices becomes necessary. Environmental clean-up projects can cost millions of dollars and take months even years to complete.
Who Needs this type Coverage?
If you are the own of an industrial site pollution liability insurance still could be a good protection to have. If an inspection performed on your property missed hazardous waste and was discovered years later, you could potentially be responsible. Environmental laws are constantly changing, you don’t want to be caught without the coverage needed to protect your business.