Environmental Liability describes a range of insurance policies that provide pollution cleanup costs and legal defense expenses for a variety of commercial businesses, many that do NOT own or operate underground or aboveground fuel tanks. From truck terminals to shopping centers, from auto repair shops to marinas, from dairy farms to chicken farms, contaminating your own property can be an expensive proposition. Regardless of the degree of negligence, any form of a pollution event will usually result in a regulatory requirement to remediate your property and can expose you to lawsuits and third party claims.
Often referred to by several different names (Pollution Legal Liability, Site Liability, Environmental Impairment Liability-EIL), the policies issued by most major insurers are offered for multi-year terms, usually three or five years. Liability limits range from $1,000,000 to $20,000,000 and deductibles, or self-insured retentions, of $25,000 to $100,000 are common.
DANA Insurance and Risk Management has many years of experience with Environmental Liability. We work with attorneys, commercial lenders, accountants, risk managers and others responsible for guiding a business with pollution legal liability and regulatory compliance concerns. We can easily outline the requirements necessary to obtain a premium indication. For more information, simply call us a 800-821-1990.