Environmental exposures have been highlighted more than ever by a tougher social and legal environment in Australia.
Environmental Insurance covers businesses against a range of environmental liabilities and exposures.
Who should consider it?
Businesses in all industries and of all sizes face environmental liabilities including but not limited to:
- Retail and warehouses
- Haulage and logistic
- Property owners and developers
- Waste management and disposal facilities
- Bulk storage facilities
- Environmental professional service firms
- Power and Utility providers
What can it cover?
Historical pollution where pollution can be present on sites even though there is no current operational risk and businesses may face historical contamination from a site’s previous uses.
Own site clean up where general liability policies do not cover own site clean-up or emergency response costs. Environmental liability can provide the business with onsite coverage for clean-up costs or emergency response costs whether they are from gradual pollution or a sudden and accidental incident, 3rd party bodily injury and property damage associated to the pollution incident.
Sometimes it is difficult to establish if a pollution incident was caused by a sudden and accidental event or gradual pollution incident. Environmental Liability Insurance is designed to cover all pollution conditions, and it makes no distinction between gradual and sudden and accidental pollution.
What isn't covered
There are exclusions. There is also often a deductible or excess and limits on cover, so check with your GSK insurance broker.