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There are good reasons to consider Environmental Risks Insurance from AIG

An emerging risk

Environmental exposures have been amplified by a tougher legal environment throughout the EU which introduced new concepts such as damage to biodiversity and more stringent clean-up requirements. This means that even though businesses’ operations may not have changed, their potential environmental liabilities have increased.

A big, sensitised market

Businesses in all industries and of all sizes face environmental liabilities. Obligations for both companies and competent authorities point towards an increase in both number and costs of environmental claims – which combined with attention from the media, have encouraged greater awareness of environmental issues by businesses, investors and customers.

Directors and managers are personally exposed

Following an environmental incident, individuals also face the possibility of personal actions. In fact, some local regulations might hold directors and managers personally liable for the damages.

International opportunities

Countries have different local environmental legislation and have adopted the European directive on environmental liability in different ways – in several (Spain, Portugal, Slovakia and Czech Republic for example) businesses may need to demonstrate that they have financial assurance in place for their environmental exposures (such as a locally issued EIL policy) in order to operate in that country.

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EnviroPro/Pollution Legal Liability

Target Market

  • Manufacturing and Industrial facilities
  • Bulk storage and warehouses facilities
  • Waste treatment and disposal facilities
  • Commercial sites, including hospitals, shopping centres, laboratories, hotels, and housing developments.
  • National or multinational companies

Coverages

  • Biodiversity Damage
  • Defence and assessment costs
  • Mitigation costs to prevent the worsening of a pollution incident
  • Loss arising from Gradual, as well as, Sudden and Accidental pollution conditions
  • Clean-up Costs (on-site and off-site) including the repair/rebuilding costs to first party property damaged during clean-up
  • Third Party Bodily Injury and Third Party Property Damage resulting from a pollution condition

 

Optional Coverages

  • First party Business Interruption losses resulting from a pollution condition
  • Transportation related environmental liabilities
  • Contractor Operations-related risks, includes work completed by subcontractors

 

 

Main Exlusions

  • Intentional acts committed by others than employees
  • Fines and penalties
  • Nuclear risks
  • War
  • Terrorism

 

This site only contains an overview of the most important coverages and exclusions. Only the general and specific  conditions (“Insurance Policy”) provide an accurate, binding, description of the covers and exclusions.

It is necessary to fully analyse the Insurance Policy, as well as all other relevant documents with contractual and pre-contractual information before any decision to buy, underwrite, adhere to, accept, sign or conclude an insurance agreement.

PIER Europe

Unmatched pollution incident and environmental response network delivering reliable and specialised support when businesses need it most.

How to report a pollution incident to PIER Europe?

Call the PIER Europe hotline +44 (0)1273 400965 available 24 hours a day, seven days a week, provide your contact information and a brief description of the incident.

Important Information

Here you will find information about how to request a quote with detail of premium calculation, the general and specific conditions, and/or other relevant documents with contractual or pre-contractual information, the duration of the insurance policy, the applicable law and jurisdiction, how to file a complaint or reach the ombudsman, etc.