With growing pressure on resources and development sites pollution or environmental damage that has happened in the past (whether it was 100 years ago or 6 months) has the potential to create liabilities today.
Even though the current owner of a property may not have caused this damage, they could be held liable for it – where the polluter can no longer be found or when they have contractually transferred on the responsibility. More information can be found in our Training Material.
This liability can often exceed several million pounds, and uncertainty around it delays investment and development of previously developed sites.
With over 300,000 Brownfield Sites in England alone, every property transaction should consider these liabilities.
Insurance policies can be designed to cost effectively manage residual liability associated with these historical activities.
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