Environmental Policy – Five Main Benefits

We recently expanded our International Environmental team in London, and our growing team includes Richard Spink and Penny Andrews who will have a regular presence at Lloyd’s at the Aspen box. International environmental is an area that we are excited to continue developing. Following are five advantages of having an environmental liability policy:

1. Crisis management coverage.  An environmental policy enables the insured 24-hour claims support and access to claims experts in both pollution remediation and spill response, ensuring a quick and appropriate response to minimize reputational risk.
2. Biodiversity coverage and on-site clean-up. The breadth of this coverage
   helps to ensure organizations are appropriately indemnified following a pollution event.
3. Balance Sheet protection.  Pollution events and responsibilities for pollution remediation can result in significant liabilities. An environmental insurance policy can provide you with balance sheet protection and remove the volatility from a business following a large pollution event.
4. Local communities, third party liabilities and off-site clean-up. Pollution policies provide coverage for a pollution event that impacts off-site, third parties, ensuring your neighbors and local communities are protected.
5. Unique coverage. Environmental policies are specialist policies by design and offer a broad range of coverages for clean-up costs, remediation, third party injury, and damages and business interruption. The experienced Aspen underwriting team can tailor these coverages individually, based upon an organization’s specification and needs.

The Aspen Environmental team would be happy to discuss with you the different options that are available. Contact them.