Almost all premises have a pollution exposure, from day-to-day operations, a neighbor’s negligence of its facility, or even natural disasters triggering an event. These exposures are usually excluded from GL or Property coverage forms, so it is important for businesses to have appropriate coverage in place that protects them from potential claims.
Site Pollution Liability is designed to cover claims arising from pollution releases at, on, or emanating from a specific scheduled location. Although there are many situations that warrant this type of coverage, here are the most common scenarios that drive interest:
- An insured’s desire to protect himself/herself against liability from third parties.
- Operations performed at the site prior to and during ownership.
- To meet contractual requirements for a property transfer, new construction, or refinancing.
The top 5 questions to ask when discussing Site Pollution coverage with your insureds:
1. What has the property previously been used for?
2. What will the property be used for in the future?
3. What policy limit of insurance will cover your contractual needs or make you feel safe in the event of a loss?
4. Will you want pre-existing coverage, new conditions only, or both?
5. Are you concerned with first party triggers or will third party be enough?
Coverage starts around $3,000 and can include many enhancements.
Check out some of our articles about Site Pollution Liability:
- Important Facts About Site Pollution Coverage
- Site Pollution Liability on Beachfront Properties
- Environmental Exposures for Restaurants
- Coverage Spotlight: Apartment Owners and Managers
- Environmental Insurance Coverage Considerations for Higher Education, Colleges and Boarding Schools
- Exposure Concerns for Hotels
- Understanding Site Assessments
- Site Pollution for Wastewater Treatment Plants
- Pollution Exposures for Office Buildings
For more information on Site Pollution Liability, contact us.