Pollution Liability Insurance
Coverage
[c/p a lot of this from other sections, needs to be consolidated, doesn’t make sense right now.] Regardless of the size or type of your business, environmental liabilities can arise unexpectedly and you should be prepared with the right Environmental Liability Insurance. An accidental spill, contaminated property, or an unforeseen environmental impact can result in hefty cleanup costs, regulatory fines, and lawsuits. By securing environmental liability insurance from TIS Insurance, you will have the peace of mind that these unexpected expenses are covered, protecting your bottom line and reputation.
The stakes are too high today to leave your business exposed to unforeseen environmental risks. By partnering with TIS Insurance, you can safeguard your operations, maintain compliance with local and federal laws, and demonstrate your immense commitment to environmental responsibility, which helps in building trust among the public, regulators, and investors, enhancing your company’s growth and profit potential.
Our comprehensive coverage options, expert claims management and proactive risk management services ensure that your business is prepared for any environmental challenges that may arise.
Choose TIS Insurance for reliable, customizable solutions that protect your business and promote sustainability. With our support and Environmental Liability Insurance coverage, you can focus on what you do best while we handle the complexities of environmental liability.
Contact us today to learn more about how our tailored insurance policies can benefit your business in staying compliant with ever-changing laws, while also helping position it for expedited growth, better profits, and increased sustainability with our Environmental Liability Insurance.
CONSIDERATIONS
What are your business operations and their environmental risks?
Where is your business located, and are there sensitive environments nearby?
Do you have a history of environmental claims?
What risk management practices are in place?
What policy limits and deductibles suit your business needs?
PREMIUM BASIS
Type of Business and Industry
Business Size and Revenue
Risk Exposure
Type and Scope of Coverage
Claims History
Policy Customization
These are just some of the many factors used to determine the best policy for your unique environmental protection circumstances.
Pollution Liability insurance Coverages
Pollution insurance provides specific coverage for various environmental incidents.
Pollution Events & Cleanup Costs
Cleanup costs due to pollution events include costs associated with the removal of contaminants, soil and water remediation, and restoration of affected areas. These costs vary depending on the extent of pollution. TIS Insurance ensures that businesses can address pollution incidents promptly to minimize environmental impact and financial instability.
Regulatory Fines & Penalties
The average state-issued penalty for a pollution violation isn’t insignificant, and even worse, EPA fines are almost five times higher. Whether you violate a state or federal pollution law – fines are hefty. At TIS Insurance, we understand how these penalties can result in business disruptions. Our environmental liability insurance covers costs associated with environmental lawsuits.
Third-Party Bodily Injury
When a third party (neighboring property, community, etc.) faces environmental damage due to your business operations, you can expect a third-party claim. Pollution liability provides compensation for claims arising from bodily injury to third parties, including medical expenses, legal fees, and settlements.
Property Damage Coverage
Coverage for damage to third-party property, including repair or replacement costs and legal liabilities.
Underground Storage Tank (UST) Coverage
With approximately 542,000 USTs nationwide storing petroleum and other hazardous substances, the risk of pollution incidents related to underground storage tanks is high. Cover the cleanup costs, third-party claims, and regulatory compliance expenses to help businesses manage USTs effectively.
Legal Defense
Environmental-related incidents often result in costly lawsuits and legal challenges. With TIS Insurance’s Environmental Liability Insurance providing coverage for legal defense costs, businesses can ensure they have the necessary resources to defend themselves against claims and lawsuits, protecting their financial interests and reputation.
Pollution
WHO NEEDS?
Pollution coverage is essential for a wide range of industries, including those that handle hazardous materials, own or operate potentially polluting facilities, or want to demonstrate environmental responsibility.
Manufacturers
Protect against pollution liabilities stemming from industrial activities
Construction Contractors
Cover risks related to construction, demolition, and site development.
Real Estate Owners & Developers
Safeguard against environmental contamination risks on properties
Waste Management
Protect against the liabilities associated with handling and disposal of waste materials
Energy & Utilities
Coverage for oil, gas, and utility companies facing environmental risks
Why Pollution Insurance Matters
At TIS Insurance, our Renters Insurance policies provide:
Reputation
Mitigation
Environmental accidents can severely damage a company’s reputation, leading to loss of customer trust and negative publicity. Investing in environmental liability insurance can help protect your brand’s image and reputation by providing financial resources to address the situation and restore public confidence.
Regulatory
Compliance
Environmental regulations are becoming increasingly stringent, and non-compliance can lead to costly penalties and legal actions. Environmental liability insurance can help businesses meet their regulatory obligations by providing financial support for compliance efforts and potential legal defense.
Financial Protection
Environmental incidents can result in substantial financial losses, including cleanup costs, legal fees, and potential fines and penalties. Environmental liability insurance helps mitigate these risks by covering the costs associated with such incidents.
Pollution Liability Insurance
FAQs
What does Pollution Liability Insurance cover?
Environmental Liability Insurance covers costs related to pollution incidents, including cleanup, legal fees, and third-party claims for bodily injury or property damage. At TIS Insurance, we also cover regulatory fines and penalties under environmental liability insurance, ensuring your businesses remain compliant with environmental laws. Our coverage extends to incidents caused by contractors and issues related to underground storage tanks, providing comprehensive protection against environmental liabilities.
What Is an Example of Environmental Insurance?
An example of Environmental Insurance is Pollution Liability Insurance, which covers expenses related to the cleanup and legal costs of a chemical spill. At TIS Insurance, we offer comprehensive solutions, which is why you’re protected against third-party claims for property damage or bodily injury resulting from the spill, pollution-related claims, and similar claims under our environmental liability insurance.
What Is the Environmental Risk Liability?
Environmental Risk Liability refers to the potential financial and legal responsibilities businesses face due to the damage their operations cause to the environment. This translates to all costs associated with pollution cleanup, regulatory fines, legal defense, and third-party claims for injury or property damage. Businesses must manage these liabilities to avoid significant financial losses and maintain regulatory compliance.
What Is the Meaning of Environmental Impairment Liability Insurance?
Environmental Impairment Liability Insurance provides coverage for businesses against claims resulting from pollution or contamination. It includes costs for cleanup, legal defense, and third-party claims for property damage or bodily injury. This insurance helps businesses manage financial risks and comply with environmental regulations, ensuring they are protected from accidental environmental liabilities.
What Is an Example of an Environmental Liability?
An example of an environmental liability is a manufacturing company facing cleanup costs and third-party claims after a chemical spill contaminates a nearby river. The company may be responsible for environmental remediation, regulatory fines, and compensation for affected communities, highlighting the importance of having Environmental Liability Insurance to cover these unexpected expenses.
What Is the Environmental Liability Insurance Act?
The Environmental Liability Insurance Act, also known as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA or Superfund), establishes a federal “Superfund” to clean up uncontrolled or abandoned hazardous waste sites, spills, and emergency releases of pollutants. Since its enactment in 1980 (42 U.S.C. §9601 et seq.), CERCLA empowers the EPA to identify responsible parties and ensure their cooperation in environmental remediation, mandating that businesses have sufficient insurance coverage to manage financial costs associated with claims and to promote environmental responsibility and compliance with regulations.
Why Is Environmental Liability Important?
Environmental liability is important because it holds businesses accountable for their environmental impact, encouraging sustainable practices and compliance with regulations. Companies must manage environmental liabilities to maintain their reputation, ensure business continuity, and safeguard public health and the environment.
What Are the 4 Types of Environmental Risk?
The four types of environmental risk are:
- Regulatory Risk: Failing to comply with environmental laws and regulations
- Operational Risk: Pollution or contamination resulting from business operations
- Reputational Risk: Damage to a company’s reputation due to environmental incidents
- Financial Risk: Costs associated with cleanup, legal fees, and third-party claims
What Are the 3 Major Categories of Environmental Problems?
The three major categories of environmental problems are:
- Pollution: Contamination of air, water, and soil by harmful substances
- Climate Change: Global warming and its effects due to greenhouse gas emissions
- Resource Depletion: Overconsumption and unsustainable use of natural resources, leading to scarcity and environmental degradation
It is crucial to address these issues to maintain ecological balance and public health.
What is PPL Insurance?
Public, Products, and Pollution Liability (PPL) insurance combines coverage for third-party bodily injury and property damage (Public Liability), liabilities arising from products sold (Products Liability), and environmental damage due to pollution (Pollution Liability). It protects businesses from claims related to accidents, faulty products, and environmental incidents and ensures financial stability and compliance with regulatory requirements.
Do you have more questions?
Please reach out to our agents (all contact information below). We’re here to assist you in understanding your Pollution Insurance options and finding the coverage that best meets your needs.
Get a Quote
- Provide us with a little information about yourself and your needs.
- A TIS Team Member will reach out to gather additional information needed to provide an innovative, accurate quote.
- Get the coverage you need.
Meet our
Pollution Liability Team
Morgan Thomas
mthomas@TISIns.com
Carson Thomas
cathomas@TISIns.com
Carter Thomas, CMIP
cthomas@TISIns.com
Jared Smith
jsmith@TISIns.com
Jay Werner
jwerner@TISIns.com
joakes@TISIns.com
jfritts@TISIns.com
Josh Hearl
jhearl@TISIns.com
Kelly Thomas, CMIP
kthomas@TISIns.com
Robert Eldridge III
reldridge@TISIns.com
Spencer Nelson
snelson@TISIns.com
sfoakes@TISIns.com
