Tedford Insurance’s Post

As HSE professionals we predominantly concentrate on safety measures, compliance, and monitoring occupational health hazards. While these efforts are undoubtedly essential for safeguarding employees and mitigating workplace risks, the environmental dimension must receive the same amount of attention. I was thinking that environment gets less attention by companies mainly because many of them opt for environmental liability insurance to mitigate financial risks associated with environmental liabilities. While such insurance coverage provides a degree of financial protection against environmental claims and cleanup costs, it cannot fully address the broader environmental impacts and long-term sustainability concerns. Environmental pollution and degradation pose significant risks to ecosystems, communities, and future generations. Industrial activities, if not properly managed, can result in contamination of soil, water bodies, and the atmosphere, leading to long-lasting environmental damage. The consequences may include soil erosion, water pollution, air pollution, habitat destruction, biodiversity loss, and adverse effects on human health. I would like to share this insightful video discussing environmental liability insurance. It underscores the imperative for us to recognize that future generations may not be adequately covered by such insurance policies. https://lnkd.in/ewFthHDN

With the revision of the CCDC 41 and the inclusion of Environmental Liability as a mandatory requirement, organizations are now realizing the need for proper insurance coverage to mitigate potential environmental risks. Learn about these new regulations as a part of your environmental liability insurance policy here: https://bit.ly/3qU9d3y #Scrivens #Insurance #OttawaInsurance #OntarioInsurance

Choosing the Right Environmental Liability Insurance Policy 🌍 Assess Needs: Evaluate your business’s specific environmental risks and liabilities. 📋 Policy Options: Compare different policy options to find the best fit for your needs. 🛡 Coverage Scope: Ensure the policy covers all relevant environmental risks, including cleanup, third-party claims, and legal defense. 📜 Compliance Requirements: Choose a policy that helps you meet regulatory compliance requirements. 🌟 Expert Advice: Consult with insurance experts to tailor a policy that suits your business needs.

Why would an old insurance policy pay for the cleanup of a contaminated site? I get asked this question, often. At the core, an insurance policy is a contract between the policyholder and the insurance carrier. For older general liability policies, the pollution exclusion is either ineffective (pre-1985 states) or non-existent (1970 states). And these contracts had the following language: "The carrier will pay all sums which the insured shall become legally obligated to pay due to property damage" The operative phrase from above is "legally obligated". That is where the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) steps in. This federal legislation empowers the EPA to designate Potentially Responsible Parties (PRPs) and outlines the different ways in which a party may be "legally obligated" or liable for environmental contamination. * Current Owners and Operators * Past Owners and Operators * Generators * Transporters So, If any of the above had, liability during the policy periods, these old insurance policies (contracts) prior to 1985 and 1970, would owe the a duty to defend and potentially indemnify the policyholder. You can read more about CERCLA and PRPs in Restorical Research LLC newest blog (link in the comments). #restoricalresearch #wearenotattorneys #thisisnotlegaladvice

Pollution incidents can be financially and reputationally costly for contractors, especially in industries dealing with heavy machinery, hazardous materials, and significant changes to landscapes or structures. Pollution Liability Insurance is crucial to mitigate these risks and protect your business from potential liabilities. Get in touch with us to learn more https://ow.ly/AxfN50RS242

Pollution incidents can be financially and reputationally costly for contractors, especially in industries dealing with heavy machinery, hazardous materials, and significant changes to landscapes or structures. Pollution Liability Insurance is crucial to mitigate these risks and protect your business from potential liabilities. Get in touch with us to learn more https://ow.ly/ll3450RUEkv

It stands for Environmental Protection Insurance Coverage (EPIC) policy with comprehensive protection for general liability, environmental liability, and more — in a single package.

It stands for Environmental Protection Insurance Coverage (EPIC) policy with comprehensive protection for general liability, environmental liability, and more — in a single package. #ironshore #wholesale #environmentalinsurance

Pollution incidents can be financially and reputationally costly for contractors, especially in industries dealing with heavy machinery, hazardous materials, and significant changes to landscapes or structures. Pollution Liability Insurance is crucial to mitigate these risks and protect your business from potential liabilities. Get in touch with us to learn more https://ow.ly/THI950RTwxa

Protecting your business isn't just about profits—it's about preserving our planet too. Did you know that environmental liability insurance claims have surged by 34% in the last decade? Learn why this coverage is crucial for both your bottom line and the environment. #EnvironmentalInsurance #BusinessProtection #Sustainability https://lnkd.in/eAvENcVQ