Whether due to an accident, negligence or simply bad luck, many companies face pollution-related risks that can have disastrous consequences. To reduce the impact on your company’s operations and financial health, it’s important to accurately assess the risks involved in your activities and to have protection that will cover you in case of an environmental incident.
Which companies should think about getting pollution insurance?
- Service stations and gas companies
- Trucking companies
- Excavation contractors
- Landfill sites
- Asbestos dust removal contractors
- Property owners
- Manufacturers and distributors
What are the most common pollution risks?
- Pollution via underground or above-ground tanks
- Activities done off the insured party’s premises and that require the use of pollutants
- Transportation of all types of materials
What does pollution insurance protection typically cover?
- Cleaning on and off the insured’s premises in the event of a tank leak
- Site remediation costs
- Loss of use and enjoyment for third-party victims of an incident
- The pollution resulting from sudden and accidental spillage
- Polluting conditions resulting from completed work
Pollution liability prevention tips for businesses
- Implement a prevention plan.
- Use materials, products and types of energy that minimize pollutant and waste generation.
- Establish procedures for the disposal and destruction of pollutants.
- Establish practical cleanup and decontamination mechanisms.
To find out more about pollution insurance, contact Ultima now.