Environmental Impairment Liability Insurance
Environmental Impairment Liability Insurance is crafted to provide cover for the costs of cleaning up pollution conditions if required by a third party, including a governmental agency. It can also cover bodily injury and property damage of third parties that are caused by the pollution condition.
While many organisations have environmental risk management plans and procedures in place, financial loss from pollution, soil, or water contamination, injury, property damage, cleanup, or business interruption can still occur.
In an increasingly punitive and regulatory environment, it is critical to take proactive steps to explore your organisation’s environmental exposures and appropriate risk transfer.
Public liability and industrial special risks insurance can provide some pollution cover, however it is often limited, leaving coverage gaps. The risk of pre-existing conditions at your facility, natural resource damage caused by your operations, or related government fines and penalties are also areas where environmental insurance can provide coverage.
Who needs Environmental Impairment Liability Insurance?
All companies are subject to the costs and liabilities of environmental exposures, even those that are not directly involved with hazardous materials. Risk managers in virtually every industry must proactively analyse environmental risk issues to determine vulnerabilities.
What does Environmental Impairment Liability Insurance typically cover?
Environmental Impairment Liability Insurance covers first-party and third-party remediation costs for claims for pollution conditions on, or migrating from, an organisation’s location, as well as third-party coverage for bodily injury, property damage, and remediation costs arising from pollution conditions. Coverage can extend to include natural resource damages, mould and legionella, underground and above ground storage tanks, first-party business interruption, transportation, and cover for non-owned disposal sites.
Why choose Aon for Environmental Impairment Liability Insurance?
Aon’s specialised team helps organisations understand and quantify environmental vulnerabilities to make informed risk transfer decisions.