More and more attention is being placed on the need for eco-friendly products, business operations, and overall ways of life. As a result of efforts to save the planet, there have been many regulations handed down by government agencies to help control the amount of pollution that businesses create. Whether operating a manufacturing company or drilling oil, each industry has specific criteria to follow for reducing the emissions or environmental hazards that come from daily operations.
Cleaning Up the Mess
In spite of the regulatory parameters in place, there are still occurrences of pollution exposure or contamination that must be addressed. The costs to clean up a contaminated site or the expenses in paying for damage claims or compliance-related lawsuits can reach into the millions of dollars. It doesn’t matter what size business you operate, this much money can have a devastating impact on the company’s financial health.
Having the Right Resources
While a pollution concern is serious, carrying pollution liability insurance can take some of the pressure of the financial costs of the situation. This protection can address losses related to properties owned or rented where hazardous materials or pollutants create an environmental concern that must be addressed. A liability policy will have an allowance for the legal costs of a defense or judgments related to allegations of company-created pollution losses.
Environmental insurance protects your company and the environment. Cleanup and defense costs are more manageable with a policy that addresses direct and indirect circumstances of pollution.