Why Our Environmental Insurance?
Gaps in coverage
General liability and property policies leave significant gaps in coverage for environmental impairment liability. These can include regulatory clean-up, gradual pollution, first-party clean-up and damages under the recently implemented Environmental Liability Directive.
Tightening legislation – operational coverage
Environmental and pollution coverage continues to enforce the “Polluter Pays” principle as there is a growing trend towards more financial provision for environmental liabilities throughout Europe, helping to protect smallholders and farms.
Companies now face the prospect of incurring a range of Clean-up Costs, Compensatory Damages, and Complementary Damages as opposed to the traditional fines and penalties.
Local authorities continue to identify “Contaminated Land” throughout the UK. Environmental insurance can protect companies from latent liabilities associated with historical pollution. This includes property owners, investors and lenders, and provides a mechanism for managing environmental liabilities during property transactions.
Environmental insurance from Land Based Underwriters provides an opportunity to insulate exposure to environmental liabilities, maximise asset value and protect rental income.
Availability and product range
Environmental liability insurance has become increasingly available and affordable. Risk Managers are increasingly seeing Environmental Impairment Liability insurance (EIL) as a tool to complement their environmental risk management practices and protect against unforeseeable liabilities that can arise from operator error and mechanical failure.
Get in Touch
For further information and advice on the correct insurance policy for your farm or smallholding, contact Land Based Underwriters. Our farm insurance specialists will help provide you with the perfect policy for your business