The financial and business interruption implications following an environmental incident can be significant, especially when the event generates substantial publicity. Tough legislation, media attention and keen community awareness, along with the possibility of delayed, 'long-tail' claims, make businesses of all kinds increasingly vulnerable either as the cause of the pollution or as the victim of natural disaster.
With Liberty, the policy is only part of the deal. Our underwriters and risk managers are well versed in dealing with the technical issues of complex risks and work side-by-side with brokers and clients to identify potential risks and suggest appropriate products. Our claims team works closely with clients to achieve a fair, timely and effective resolution of claims.
Liberty's Environmental Impairment Liability (EIL) insurance covers four potential losses arising from a pollution incident:
- Clean up costs - this can be the main expense and is the cost of removing contaminants and pollutants. It can also include the clean-up of a third-party site, including a waterway or crown land.
- Costs of mitigation and emergency response.
- Public relations and crisis containment expenses.
- Costs incurred through Environmental Protection Authority (EPA) orders, including costs that the EPA incurs itself.