Environmental Liability

Environmental Liability Insurance

Environmental Liability, in short, protects specific types of companies that have facilities or sites that hold risk or uncertainty that may affect the environment, or may contaminate a nearby site or facility. Specifically, some companies purchase environmental liability to protect in cases where pollution may already exist and is a known factor within the site that is being worked. Here’s an example:

A company that processes meat has their production facility next to a property with chlorinated solvents. The meat processing plant gets contaminated by the adjacent location and sues their business for a 20 million dollar settlement. Who will pay when this happens? Is your company prepared to hand out over 20 million dollars, including attorney fees? This is why Environmental Liability Insurance has become so necessary over the last ten years.

Who Needs Environmental Liability Insurance?

Some sellers and buyers of property must purchase environmental liability insurance to support the sales agreement within. Other companies that often purchase environmental liability insurance include:

  • Food Processing Plants or Sites
  • Real Estate Trusts (Investment Trusts)
  • Colleges or Universities
  • Charter Schools or Grade Schools
  • Landfills
  • Commercial Property Sellers and Developers
  • Gas Stations and Oil Terminals
  • Waste Treatment Centers
  • Chemical Plants
  • And many more…

What Will My Environmental Liability Insurance Policy Cover?

Each policy is different, dependent on a multitude of factors including: type of business, location, surrounding businesses, procedures and practices, etc. In some cases policies for Environmental Liability cover items such as: on-site clean up services and coverage for sites operated or owned in the past. For more information on Environmental Liability Insurance, or to obtain a free quote from one of our seasoned agents, call or text us at: 480-941-7979.