Environmental Liability Insurance
The Environmental Liability Directive (Directive 2004/35/EC) regarding the prevention and remedying of an environmental damage provides a framework of environmental liability based on the'polluter pays' principle. The Irish Environmental Protection Agency (EPA) firmly support the 'polluter pays' principle and have established the requirement for adequate 'Financial Provision'.
The level of 'Financial Provision' required of a company will vary depending on three things: the complexity, and therefore the risk, attaching to the site; the sensitivity of the receiving environment and the effective management of environmental risk by the company. The EPA guidance document subdivides liabilities into known liabilities and unknown or unexpected liabilities such as a leak or explosion.
In many instances, potential liabilities extend well beyond the operational life of a company, thereby requiring a mix of 'Financial provision' ranging from cash or ESCROW accounts, to parent company guarantees, or risk transfer instruments such as insurance or bonds.
With regard to the arrangement of insurance in relation to a company's obligation to ensure adequate 'Financial Provision' Robertson Low (formerly Crest Underwriting Ltd) can arrange insurance policies that provide a broad range of coverage for:
- First / Third Party Cleanup
- Third Party Bodily Injury / Property Damage
- Coverage for Pollution Conditions: no distinction between sudden accidental and gradual coverage
- Cover Changing Legislation
To obtain a quotation please download the proposal form below, complete and return to us with the additional required documentation.
Contractors Environmental Liability Proposal Form
Facilities Pollution Application
Landfill Pollution Supplemental Application
Step by Step Guide to Buying Environmental Liability Insurance
