Many businesses engaged in the Construction Industry have exposures to environmental liability claims. But do you understand those exposures?
For example, does your business:
- have an Environmental Impact Assessment for their project?
- know the history of the site, or the activities of the previous owner?
- know for certain that the fill brought to site is free of asbestos or other pollutants?
- expect to disturb groundwater by drilling?
- anticipate plume disturbance by pile driving?
- have a plan to control stormwater and sediment run off?
Construction activities can cause significant water, soil or air pollution, site specifics can greatly affect the risk, the chemicals and pollutants involved and the exposure spread. A contamination event – whether sudden or gradual, or even concealed over time – has the potential to substantially impact a project hard financially and can damage your reputation.
There are emergency response and recovery costs, personal liability costs and cleanup costs to consider. You need a comprehensive and robust Environmental Impairment Liability cover in place to protect yourself.
If you would like more detailed information, this paper from Liberty International provides a great deal of information Environmental Liability and the Construction Industry