We are delighted to announce the launch of our new Environmental Impairment Liability (EIL) policy which enables brokers to offer comprehensive coverage for any pollution and environmental damage that may arise from a client’s properties and associated business activities.
As environmental regulations tighten, business owners in all sectors are under increasing pressure to adopt green practices. In response to the increased scrutiny from government and public bodies, brokers are turning to Environmental Impairment Liability (EIL) policies to provide their clients with protection from loss of income or costs incurred due to an unexpected environmental situation or accident.
“It’s really important for contractors and business to be aware of their environmental exposures because these issues are heavily prominent in the news these days and governments are cracking down,” explains Kent Pitkin our National Director, Commercial Lines. “Business owners need environmental policies to make sure their interests are covered, not only financially but morally as well. Businesses want to be seen as being socially responsible.”
Our EIL Policies can include Contractors Pollution Liability (CPL) or Site Pollution Liability (SPL). This enables your clients to carry out operations knowing that any accident which results in environmental damage will not lead to financial ruin. “EIL policies cover events that are often missed in regular policies,” says Pitkin. “For example, current liability policies exclude all pollution cover. EIL policies can cover clients for both sudden and gradual pollution events and third party claims including injury, property damage and clean-up costs.” They can also cover emergency costs and claims expenses, including investigation and legal defence fees, which can escalate rapidly. “If something happens that leads to contamination in the ground water; that can result in hundreds of thousands of dollars in legal fees,” Pitkin says.
To find out more about the Environmental Impairment Policy at APRIL Canada, call us today!