Need environmental insurance? Crefin & Partners: your independent insurance advisor helps you insure against environmental claims.
Do you work with substances or processes that can cause damage to the environment? Then environmental insurance is not an unnecessary luxury. After all, a leak, soil contamination, or polluted firefighting water can have major financial consequences for your company. With environmental insurance, you protect your business against the costs of environmental damage and the associated remediation. At Crefin & Partners, we are happy to help you find a suitable insurance policy that aligns with your business activities.
Environmental insurance is particularly beneficial for companies that work with machinery, chemicals, fuels, or other environmentally sensitive substances. The costs of environmental damage can quickly escalate. Not only direct damage, but also investigation costs, remediation, and third-party liability can be financially burdensome. With good environmental insurance, you prevent your company from facing high, unexpected costs in the event that you are held liable for an environmental problem.
Environmental insurance provides coverage for environmental damage caused by unexpected events within your company. Examples include: soil contamination, polluted groundwater or surface water, leaks of hazardous substances, cleanup and remediation costs, and damage caused by contaminated firefighting water. Depending on the policy, liability damages and investigation costs may also be included.
Environmental insurance is usually not mandatory, but may be strongly recommended in some industries or be contractually required.
What constitutes environmental damage?
Environmental damage is damage to soil, water, or air caused by, for example, leaks, chemical substances, oil, or contaminated extinguishing water.
Does liability insurance also cover environmental damage?
Not always. Many standard liability insurance policies partially exclude environmental damage or offer limited coverage. That is why many companies opt for separate environmental insurance.
For which companies is environmental insurance suitable?
Environmental insurance is particularly interesting for companies that work with machines, chemicals, fuels, or other environmentally sensitive substances. Consider, for example:
transport companies
agricultural enterprises
garages
production companies
construction companies
installers
But other businesses can also unexpectedly face environmental damage.
Are remediation costs reimbursed?
Yes, in many cases, remediation and cleanup costs are covered by environmental insurance. However, this depends on the policy conditions.
Can I insure environmental damage on my own property?
Yes, many environmental insurance policies also offer coverage for damage on private property, such as contaminated soil or leaks within the company premises.
How is the premium calculated?
The premium is determined based on, among other things, your industry, activities, risks, and the size of your company.
Can Crefin & Partners help compare policies?
Certainly. We independently compare various providers and help you choose environmental insurance that suits your business situation well.
