Increasingly, organisations are being held accountable for any detrimental impact they may have on the environment.
The continual tightening of regulation and intense public scrutiny has seen a heightened need for businesses to manage their environmental risks.
In general, the business community has been slow to focus on the potential environmental impact of its operations – both retrospectively and into the future. However, with pressure mounting on organisations to behave in an ethically responsible manner, it has become impossible to turn a blind eye. Businesses are now being forced to take action based on the severity of the consequences.
A real Environmental Liability example:
A warehouse containing toxic chemicals caught fire. During efforts to extinguish the fire, the chemicals spilled, and run off water carried the chemicals into a nearby waterway. Contamination was detected downstream, and clean-up costs reached in excess of $300,000.
Environmental Liability Insurance has been developed as a solution to protect your business, providing a range of covers largely not included under General Liability policies.
- Coverage for gradual as well as sudden and accidental pollution conditions
- Coverage for historic conditions and operational exposures
- On site clean-up of pollution conditions
To find out more about Environmental Liability Insurance and the implications for your business please contact us on 1300 424 627.
Related links you may find interesting:
Mandatory Environmental Pollution Insurance in China: Could Australia Follow?
Cleaning up or cleaned out?
The information contained in this documentation should only be considered as general advice. It is not intended to take the place of personal advice. Before acting on this information you should consider the appropriateness of this advice to your particular objectives, needs and financial situation. For a full explanation of policy terms, conditions and limits you should refer to the relevant Insurer’s Product Disclosure Statement which can be obtained from our office. Cover is subject to underwriting acceptance criteria.
Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 Licence Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.
