Pollution and Environmental Insurance

Addressing Ever-Growing Pollution and Environmental Risks

Currently there are more than one hundred different environmental insurance policies available that have been created to address various environmental risks and unique situations continue to present themselves. The risks can be huge and complex. Pollution and environmental risks are growing:

Scientific advancements are revealing more types of pollution
Local, state and federal regulations are increasing and becoming more stringent
More of the financial burden for cleanup is being forced on businesses and individuals
Personal liability for corporate actions is on the rise
Litigation is increasing
Enforcement is becoming more aggressive at the local, state and federal levels
Political and social pressures ensure that more regulations and stronger enforcement will take place

The need for a competent advisor has never been greater

Now, more than ever, businesses and individuals should become aware of their environmental risks and seek the help of a competent pollution and environmental liability insurance advisor to provide adequate risk protection through pollution and environmental insurance. OneGroup pollution and environmental insurance specialists can help safeguard your assets, improve your business and protect your reputation by:

Proactively identifying your pollution and environmental risks potentials
Assessing and mitigating your pollution and environmental risks
Analyzing and review business opportunities and emerging regulatory issues
Helping you to understand complex environmental issues and their potential impact on you
Providing analytic tools to accurately evaluate your cost and tolerance for risk
Reviewing all insurance options and streamline negotiations with insurance carriers
Providing outsourced risk management services
Offering alternative innovative solutions to insurance programs

A comprehensive portfolio of environmental insurance products

As an independent insurance agency representing your interests, OneGroup has the ability to access many wholesale and retail insurance carriers that offer a wide array of environmental insurance products, as well as have access to specialty markets. Some of the products available include:

Covers potentially hazardous materials on the jobsite or the release of pollutants caused by construction and remediation operations whether performed by the contractor or subcontractors. General and artisan contractors pollution liability can be expanded to include microbial matter such as mold and fungus.

Covers environmental consultants and contractors as well as liability to the client should cleanup costs to exceed the estimate. Professional and contractor insurance programs typically include injury and property damage insurance. Contractors are advised to keep these policies in place for a period of time after the work is completed.

This coverage will provide pollution cleanup on-site or off-site for the release of contaminants to the soil and groundwater from the tank either above ground or underground. Bodily injury and property damages are also covered. Storage tank pollution liability insurance policies can be utilized to meet EPA requirements.

Covers unknown pollution conditions as specified in the policy. Typically, pollution legal liability policies cover both on- and off-site pollution conditions, and include claims for bodily injury, property damage and cleanup costs.

Covers properties that are known to be contaminated and where remediation will take place as part of a development or restoration plan.

Property transfer insurance policies cover claims against a covered location for preexisting, unknown contamination and known contamination below reportable levels. Covers bodily injury, property damage and cleanup costs.

Transporter insurance covers the cost of a transporter for disposal of waste. Bodily injury, property damage and cleanup costs are covered, but known conditions, completed operations, and deliberate acts are typically not included.

A defined insurance policy that protects you against cost overruns for environmental remediation on a given project. Cleanup cost cap or stop loss coverage is limited to cleanup costs and bodily injury.

Closure and post closure insurance policies are an alternative to bonds, letters of credit and trust funds. They are designed for regulated facilities such as hazardous waste treatment, storage and disposal facilities, solid waste landfills and some manufacturers.

Secured creditor insurance is designed to cover the balance of a loan on property found to be contaminated or the cost to clean up the property, whichever is less expensive.