Even a minor pollution spill may be too expensive to cover out of pocket.
Pollution Liability Insurance
Pollution Liability Insurance is a type of coverage created specifically to manage the costs associated with pollution clean-up, as well as to cover liability claims for pollution-related injuries, illnesses or deaths. Policies cover any type of small-scale pollution that causes contamination of soil, groundwater or property. They also provide coverage for air-borne contaminants like smoke and emissions. Some key aspects of pollution insurance coverage include:
Legal Defense Fees
Pollution insurance companies will provide your company with attorneys who specialize in these matters to defend you in a pollution-related lawsuit. Your policy can also cover the costs of any other related legal fees and court costs.
Clean-Up Efforts
If your company is required by law to clean up contaminants, this coverage will compensate you for a portion of the costs. Many insurers will allow you to buy stop-loss policies that limit the amount that your company will be responsible for during the clean-up. This is beneficial if additional pollutants are identified in the clean-up process, potentially escalating the costs.
Operations
If your business uses chemicals or hazardous materials, there are two types of coverage available:
1. Catastrophic coverage: For a sudden, pollution-inducing event such as a fire or explosion.
2. Non-catastrophic coverage: If pollution occurs over a long period of time and affects neighboring businesses or residents.
Interested in an insurance proposal at no obligation or cost?
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Coughlin Insurance Services, Inc.
178 Myrtle Boulevard, Floor 2, Larchmont, NY 10538
Toll Free : (800) 542-0661
Tel: (914) 834-1234 Tel: (212) 593-0200
