Does Your Company Use Potentially Toxic Products? Protect Yourself
Posted March 10, 2022 in Environmental Liability Insurance
2 Minute Read:
Companies across the U.S. are required to ensure that their operations do not cause harm to the environment. The Environmental Protection Agency (EPA), a federal agency, has regulations that every company must uphold.
When a company is found to have breached the regulations laid out by EPA, it can suffer consequences, including heavy fines or losing its operating license.
Based on this understanding, it is essential for companies dealing with toxic materials to be well prepared to deal with any eventuality. This is where environmental insurance coverage comes in to help a company deal with any cost and damage caused to the environment during their operations.
Do not wait until your company is slapped with a huge cost because of damaging the environment to react? Contact Gallant Risk & Insurance Services, LLC, to learn more about environmental insurance coverage.
How Exactly Does the Cover Operate?
Environmental liability coverage helps businesses settle any possible damage caused by them during their operations.
With this coverage, a company can receive protection against:
- Hazardous waste haulers
- Product pollution
- Storage tank liability
- Contractor’s pollution
- Lender legal liability
- Manufacturers pollution
Your company will be protected from damages such as:
- Bodily harm
- Cleanup cost
- Property damage
- Defense cost
Why Do You Need This Coverage?
All businesses aim to enhance their profits; therefore, any unexpected cost on the business can cause a significant dent.
Environmental liability coverage will help ensure that you do not have to take a portion of your revenue to settle the fine but rather have the insurance company assume the environmental liability.
The coverage helps ensure the smooth operation of your business. Constant worrying of possible closure or deregistration because of breaking environmental laws can affect your operation. Therefore, applying this coverage ensures that you can operate without worrying about potential perils in the future.
Who Needs to Apply for Environmental Liability Cover?
This environmental cover is available for any business that is likely to contravene environmental laws during its operations. In this regard, no single business is spared falling into some form of environmental damages. Therefore, the policy is vital for companies such as:
- Food distributors
- Fast food stores
Why Choose Gallant Risk & Insurance Services?
Gallant Risk & Insurance Services, LLC, are here to help guide you through the process. You will have a straightforward process of filling out the form, which is readily available online. Our company understands that fines from environmental damages can be colossal for any business to handle without feeling overwhelmed. In this regard, we aim to take the burden off your company by making sure you are covered.
We also offer services at affordable premiums that every business can purchase.