How can our firm ensure that our exposures to environmental losses are properly insured?
Understanding your pollution liability exposure will allow you to effectively balance contract compliance while maintaining adequate protection of your company’s assets. Contractor’s Pollution Liability provides third-party bodily injury, property damage and cleanup coverage for unintentional pollution caused by covered operations performed at job sites that are not owned or occupied by the named insured.
USI’s Contractor’s Pollution Liability coverage can prevent underinsured losses of up to $2 million.
- Enables contactors to comply with contractual requirements before performing work at the job site
- Owners can purchase such coverage for contractors to ensure sufficient coverage
- Can be written as a wrap-up, insuring all contractors working at specific job sites
Many contractors fail to understand the significance of the pollution exclusion on a general liability policy, and some contractors only obtain pollution liability coverage if the written contract specifications from the owner (or general contractor) require it.
Given the CGL pollution exclusion and the rise in environmental awareness over the last decade, contractor pollution liability requirements have been included in many construction contracts.
Time-element coverage only provides limited coverage for sudden and accidental events and does not address claims that are gradual in nature arising from contracting operations performed by or on behalf of a contractor.
USI will assess your pollution liability exposures based on the scope of work and contracts being considered.
We then negotiate with carriers for an appropriate contractor’s pollution liability policy based on our analysis. Finally, we continue to monitor scope of work and types of contracts contemplated and modify/enhance the policy to provide additional coverage when needed.
I’d like to explore further how Contractor’s Pollution Liability coverage can help insure our company against environmental exposures.
In order to perform an analysis of your firm’s pollution liability exposure, USI will need to collect a description of your firm’s anticipated scope of services and a sample contract.