Environmental insurance agencies serve the purpose of providing coverage to many different types of companies such as air monitoring firms, asbestos consultants and labs, environmental consultants, engineers, industrial hygiene firms, safety consultants, toxicologists and others. Such insurers can issue coverage for bodily injury, property damage, and cleanup for unintentional pollution. A type of liability policy offered by most is called Site Specific Pollution Liability. This covers first party clean up costs and third party bodily injury, property damage and clean up costs. Site Specific Pollution Liability is one of the most complicated coverage plans offered by an environmental insurance agency.
These insurers also offer Transportation Pollution Liability, also known as Motor Vehicle Pollution Liability. This type of coverage does not cover bodily injury or property damage relating to automobiles other than the pollution aspect. An environmental insurance agency that offers Motor Vehicle Pollution Liability may not allow it as a policy by itself, but may require that it be an addition to other policies. Other insurers offer another aspect of coverage related to risk management in the real estate arena. These environmental insurance agencies employ experts in the financial risk management field.
These companies can offer protection to real estate professionals with environmentally challenged properties. This type of risk coverage is most often sold to property owners, property sellers, and developers of commercial and residential real estate. Environmental insurance agencies also offer this type of coverage to financial, healthcare, and educational institutions. Types of transactions covered in this arena include real estate investment trusts, property transfers, mergers, acquisitions, divestitures, and brown field investments. Brown fields covered by an environmental insurance agency are abandoned, idled, or infrequently used industrial and commercial properties. These properties are perceived to be negatively affected by contamination, which interferes with efficient real estate transactions or development and reuse.
More information on these insurers can be found by searching the Internet. Major search engines will provide links for the top companies in the field as well as information on lowering risks and lowering premiums. There are many environmental insurance agencies that specialize in issues that affect property owners and business owners alike. We are a nation of continued environmental awareness and as a country, the United States is striving to decrease pollution, but there are cases in which accidents happen and business owners have to take precautions and seek the protection of environmental insurance. "And God blessed Noah and his sons, and said to them, Be fruitful, and multiply, and replenish the earth." (Genesis 9:1)
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