When most people think of environmental liability insurance, they think about coverage for a toxic chemical spill or a nuclear disaster. Environmental liability insurance covers a much broader spectrum of risks than just hazardous waste. While hazardous waste is undoubtedly a critical concern, this specialized insurance goes beyond that, encompassing a wide range of environmental exposures. It addresses issues such as soil and groundwater contamination, pollution from industrial processes, chemical spills, and even habitat restoration costs. In today’s world, businesses across various industries face ever-increasing scrutiny and regulatory requirements when it comes to environmental responsibility. That’s where specialized underwriters, brokers, and risks come into play, helping companies navigate these complex challenges. Environmental liability coverage is not merely about safeguarding against immediate pollution incidents; it’s about protecting your business’s long-term financial health and reputation by ensuring you’re equipped to handle a multitude of environmental risks and obligations.
Environmental pollution events are relatively rare, but when they do happen, they can be very expensive. Because environmental/pollution liability coverage is excluded from most commercial policies, environmental contractors need a special form of coverage to make sure their interests are protected.
The world of environmental risks is one that’s constantly changing along with the insurance needs of contractors who deal with exposures on a daily basis. New laws go into effect regulating water quality, solid waste disposal, and other environmental hazards.
C&S Specialty Underwriters offers The Environmental Contractor’s/Consultant’s package policy, which combines commercial general liability coverage with contractor’s pollution liability coverage in one convenient policy. A wide range of environmental services are covered under this policy for all types of environmental risks including mold/soil remediation, storage tank removal, asbestos/lead remediation, carpet/upholstery cleaning, and other environmental consultant services. The limits go up to $11 million per occurrence and $11 million aggregate (available on “A” XV AmBest Rated carrier on a primary basis or combination primary with follow form excess liability).
Environmental insurance is not “one size fits all.” In fact, there are over 100 different types of environmental insurance policies. It can be hard to find the right coverage for clients without clearly defined industry standards. We know environmental contractors and specialize in placing this type of client with the right environmental liability coverage.
If you have hard-to-place environmental contractor clients, we can provide a comprehensive liability package to fit the bill. Contact us for further information or to schedule a consultation.
Recent Comments