Environmental Impairment Liability Insurance & Pollution Liability Insurance - BJP Insurance Brokers | |
Both legislative changes and increased pressure for businesses to behave in a social, ethical and environmentally responsible way has led to an increase in demand for companies to purchase Environmental Impairment Liability Insurance (EIL) or Pollution Liability Insurance. Whilst this type of cover is not compulsory at present, the Environmental Damage (Prevention and Remediation) Regulations of 2009 have introduced new obligations to ensure that a polluter pays for damage caused to water, land and biodiversity.
Further information about the Environmental Damage RegulationsFor more information, a quick guide and in depth guidance notes, see the Department for Environment and Rural Affairs website at Defra, UK - Environmental Protection - Environmental LiabilityUseful Linkswww.defra.gov.uk/environmentwww.environment-agency.gov.uk www.legislation.gov.uk/uksi/2009/153/contents/made As commercial insurance specialists, we have access to a range of specialist providers and we can find you a cost effective solution. To obtain a quote or to obtain more information, please call Stephen Hegarty, or one of our specialist advisers, on 0118 979 2121. GLOSSARYEnvironmental Damage‘Environmental damage’ is introduced in the Environmental Damage Regulations and goes beyond just spills and releases. Also includes non-pollution related damages. Remediation Costs Cover is available for primary remediation as well as complementary and compensatory remediation. Immediate Action The costs of urgent action to prevent environmental damage, as companies become aware of the damage, or the imminent threat of such damage. Regulatory Debts Clean up costs for remediation of the insured’s own sites party sites. This includes Bartoline type regulatory debts and emergency costs, where the authorities act immediately to an urgent situation and require reimbursement from the business for the costs. Work with the Authorities Businesses are liable for presenting their remediation plans to the Environmental authorities. The process to get approval for the proposed measures is new and will involve environmental consultants and experts, as well as lawyers, to complete the negotiations. Typical insurance policies cover the investigation costs and defence costs within the limits of liability provided. Defence Costs for Directors Cover for defence costs for any actions against an insured business and individual directors and managers. Environmental Law, old and new Businesses’ legal liabilities according to environmental legislation and regulation. Including cover for environmental legislation that’s already in existence as well as cover for future changes to environmental legislation. | |
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