Discover the need for, and benefits of, environmental insurance
EDIA Limited provides support to a wide range of Clients that require assistance in the management of environmental risk and the placement of specialist insurance products.
Insurance can be used to provide financial security from liabilities associated with both historical and operational pollution and environmental damage giving confidence to a wide range of stakeholders.
We are happy to work direct for a Client, or in support of their existing advisors and brokers.
The process of building on previously developed land has the potential to introduce new pollution sources or linkages (the creation of a new pathway for contamination to follow). The impact of this release may impact neighbours or the wider environment around the development site. However, given the nature of the pollution, the damage that this causes may not be realised for some time after the works have been completed.
Standard insurance programmes rarely include protection for this type of exposure and as a result contractors, developers and land owners are unlikely to be adequately protected.
Environmental insurance policies can be designed to fill this gap. See the Operational Liability page for more information.
Industrial facilities have the potential to cause contamination damaging the environment and impacting neighbours. The operator of the facility maybe strictly liable for this damage even if they are not aware it is happening (for example as a result of releases underground).
This pollution may take several years to reach the receptor, by which point making it very hard and expensive to prevent and clean up.
Standard insurance policies excluded liability arising from this type of pollution.
Environmental insurance policies can be designed to fill this gap. See the Operational Liability page for more information.
A properties current use does not provide an indication of what its historical use might have been. Where properties are constructed on previously developed land, there remains the potential that contamination may be present – for which the landowner (should the polluter no longer exist) becomes responsible for.
This pollution may impact the user of the property, or the surrounding environment and may occur many years after the new development has been completed. Dealing with historical contamination on sites that are already developed is very difficult and so expensive.
Claims from occupiers, neighbours and the environmental regulators are not insured by standard insurance policies. This unprotected liability is of significant concern to buyers of developed properties – and even sellers who are concerned that they may be held responsible for the damage many years after the property has been sold.
Environmental insurance policies can be designed to fill this gap. See the Historical Liability page for more information.
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