As premises pollution insurance comes of age, we are experiencing definite changes in carriers offering the product, risk appetite, policy duration and price.
Premises pollution insurance (also known as pollution legal liability) is a useful tool for the transfer of environmental liability in real estate transactions to the insurance carrier. Insuring agreements within the policy tackle both on- and off-site cleanup costs, associated third-party liability and legal defense expenses. Features such as natural resource damage, diminution in value, non-owned disposal site liability and hazardous constituent transportation are included. While environmental insurance claims are infrequent, they are costly and remedies are protracted.