Maybe you do not agonise about environmental pollution because you do not produce any pollutants. You had better think again. Almost every production environment is at risk of contamination: rusting conveyor belts, overflowing water basins, leaking (underground) heating oil tanks,... What is more, environmental legislation is becoming ever more stringent. Hence the chances of you being held liable for some type of environmental damage are very high.
The problem is that such damage is difficult to manage and may soon increase dramatically. Moreover, standard fire insurance and/or liability policies do not apply in most cases.
Protection against environmental damage
Effective environmental damage insurance does not make any distinction on the basis of the location, the cause or type of damage. In the best case scenario, the exclusions are limited.
You are covered in the case of:
- contamination of your own site, both accidental and gradual
- liability for environmental damage affecting third parties
- defence costs
- clean-up costs
- damage to biodiversity
Extensions for specific activities
If you run any specific environmental risks (at a construction site or as a transport company, for example) you can have these risks specifically included in your policy. ‘Loss of profits’ cover protects your company's financial balance sheet against the financial consequences of environmental damage.