Don’t assume that because you don’t handle hazardous waste you don’t need pollution liability insurance.
While this coverage may seem obvious for businesses that handle waste or asbestos, it could offer good protection for other companies as well.
Why? Pollution liability insurance covers claims against bodily injury or property damage that is caused by hazardous waste. The coverage includes claims related to materials released during your operations as well as after operations are completed.
This means that you will be protected if any problems arise after you have finished a job. It also covers you in case hazardous waste is not discovered during an inspection of a property before you purchase it. In this case, waste may be discovered in the future, for which you are held liable. The insurance will protect your financial interests in the event of a cleanup or claim.
Lastly, environmental laws are in constant flux, so a pollution liability policy can help provide coverage in case there are changes in regulations that leave you exposed to lawsuits.
Who needs coverage? These policies are required for many independent contractors. At times, contractors must show proof of this coverage before work on a project can commence. For other types of businesses, this coverage may be helpful to protect against potential future claims.
To determine if your enterprise could benefit from pollution liability insurance, contact my office. We can discuss your liability exposure and ensure the right policies are in place to protect the future of your business.