The financial and business interruption implications following an environmental incident can be significant, especially when the event generates substantial publicity. Tough legislation, media attention and keen community awareness, along with the possibility of delayed, 'long-tail' claims, make businesses of all kinds increasingly vulnerable either as the cause of the pollution or as the victim of natural disaster.
With Liberty, the policy is only part of the deal. Our underwriters and risk managers are well versed in dealing with the technical issues of complex risks and work side-by-side with brokers and clients to identify potential risks and suggest appropriate products. Our claims team works closely with clients to achieve a fair, timely and effective resolution of claims.
Liberty's environmental impairment products help to protect against four potential losses arising from a pollution incident:
Liberty’s Contractor’s Pollution Liability policy helps protect a contractor from third party claims arising from pollution caused by their activities at a third party site, and can be written on a practice or project-specific basis.
At a glance:
Liberty’s Fixed-site Pollution Liability policy helps to protect the client from claims resulting from pollution coming from their site. It helps protect the assets of a company by filling the gap created by the limited pollution cover provided under a standard liability and property insurance policy.
At a glance:
When purchasing a company or property, one effective strategy to reduce risks associated with mergers and acquisitions is to shift uncertainties related to environmental risks to the insurance market.
It is essential that the purchase agreement distinctly outlines the responsibilities for environmental liabilities to avoid any confusion or ambiguity that could result in legal disputes. Given that remediation costs for future contamination can be substantial, both buyers and sellers often turn to environmental insurance as a way to mitigate potential financial liabilities linked to contamination, all while allowing them to access their capital that might otherwise be tied up in escrow.
At a glance:
Our Underwriting Team
I believe one of the most important parts of our role is to make sure companies understand that their standard insurance coverage doesn't address environmental impairment liability.
Our Underwriting Team
Over the last decade, I have seen first-hand the need for Environmental Impairment Liability increase due to the evolving environmental regulations and gaps in traditional insurance coverages.
Our Underwriting Team
Environmental Impairment Liability is not always understood. I'm passionate about working with our partners to ensure they understand the importance for their clients.
