Pollution Liability Insurance from New York Professionals
Protecting the environment is more than just the right thing to do – it’s a legal imperative. The quality of the air, water, and land can cause far-reaching and long-lasting health impacts on the people, wildlife, and plant life in the area. Businesses who work with materials that may harm the environment must be aware of the regulations and their legal obligations. Pollution liability insurance can help protect your business if your business operations cause environmental contamination.
It used to be that pollution was covered as part of a company’s general liability policy. However, in the 1970s and 80s, the dangers of asbestos were becoming widely known, with expensive claims for the clean-up for this hazardous material causing financial difficulties for many. Now, companies that work with materials that may harm humans or the environment must purchase a separate pollution liability insurance policy. New York manufacturing businesses, dry cleaners, garages, and other businesses can find protection with these important policies.
Pollution Liability Insurance Coverage
Whenever you use hazardous materials as part of your business, you run the risk of contaminating the air, groundwater, and soil near your business. Accidental catastrophic situations, such as chemical spills or explosions, can rapidly release large quantities of contaminants into the environment and require a prompt – and often expensive – response. Non-catastrophic long-term damage can also occur. In some cases, you may even be liable for damages that occur if you used materials that are later found to be hazardous. The costs of any of these events could quickly bankrupt your business without proper pollution insurance coverage.
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Most pollution insurance policies can cover a range of expenses including:
- On-site and off-site clean up
- Legal defense costs, court costs, and other legal fees
- Bodily injury and property damage
- 1st and 3rd party transportation pollution
- Business interruption
Often, your policy will cover expenses for the clean-up and removal of materials that you used as part of your business operations before they were found to be harmful. With the rapidly-changing pace of science, this coverage could save you significant trouble in the long-run.
New York Businesses that Require Pollution Coverage
Pollution claims can be filed by a wide range of people – private citizens, other companies, local, state, and federal governmental bodies. As such, any business working with potentially hazardous materials can be at risk for an expensive lawsuit. Pollution can take the form of air emissions, groundwater or soil contamination, or the contamination of property.