For some businesses, there are certain risks that relate to the environment that are just part of day-to-day operations. This could mean working with pollutants that could accidentally be released into the environment, contaminating the area around the property that the business owns, and more. As a result, the business could wind up dealing not only with cleanup costs related to its environmental impact, but it should also have legal liabilities to deal with in the aftermath. 

At ISU Armac, we understand that environmental topics are more important and relevant now than ever before. As such, it’s critical for any business that might face environmental risks to take out insurance to protect against such an event. You don’t want to live with the fear of losing a significant portion of what your business has built because of an accident that negatively impacts the environment in your area. With insurance in place, you can have coverage for such an event at a predictable, affordable price. Our agents will make it easier than you might expect to put a good policy in place right away. 

Tailored Coverage for Diverse Industries

In some industries, the environmental risks are quite low. For businesses that operate properly and stay within regulations, there is a minimal risk and environmental insurance can be an affordable failsafe just to be sure nothing unexpected causes financial problems. 

In other industries, the risks are more present, and it’s even more important to carry a powerful policy. In a risky space, you’ll probably want to commit more of your budget to a policy that stands to insulate you from some of the worst possible outcomes that you could experience. Knowing that this type of business is at risk if something goes wrong and harms the environment, we’ll work closely with you to make sure the coverage you take out is precisely tailored to your exposures. 

Key Coverage Areas to Consider

The components that make up an environmental insurance policy can take many different forms, including those we have listed below: 

• Pollution liability insurance. As the name suggests, this is coverage that will help you deal with the costs incurred after pollution is inadvertently released into the environment. Costs could include cleanup, legal defense, paying claims made by third parties, and more. 
• Site-specific pollution insurance. In some cases, you might want to only insure pollution that happens at one specific place. These kinds of policies can be more affordable, as they offer less coverage, but could be a good solution for your needs. 
• Contractors’ pollution liability insurance. As a contractor, you might find yourself doing work that could potentially lead to pollution on a job site, despite your best efforts. This type of policy is meant for such a business case. 
• Transportation pollution liability insurance. Trucking companies and others in logistics can be exposed to environmental risks when they transport hazardous materials or other potential pollutants from one place to another. There are plenty of potential problems that can arise in this kind of transportation, so it’s another area where insurance is necessary. 

Risk Management and Compliance Support

From one perspective, environmental insurance is about managing the risks that your business is exposed to from day to day. With insurance in place, your overall risk level goes down, which is always a good thing. But that’s not the only reason to use environmental insurance. You also might need to take out this kind of policy just because it is required to be in compliance with regulations. If you are obligated to have environmental insurance in place, ISU Armac is ready to assist with this task. 

A Trusted Partner

With most insurance policies, the hope is that you’ll never need to make a claim. You take out this kind of policy for the reasons we discussed above, but then you hope all that happens is you make premium payments and leave it at that. A claim means that something has gone wrong along the way, so avoiding that circumstance is sure to be your goal. 

If a claim does arise, however, you can count on us as your insurance agency to work with you and guide this process to a satisfactory conclusion. The goal with an insurance claim is to get the money you deserve based on the terms of the policy, and to get it quickly. You won’t be alone on that point, and having a trusted partner can make all the difference in how this process ends. 

Don’t Wait Any Longer

To protect your business interests fully, you need to have a network of insurance policies in place to cover as many circumstances as possible. If any of your business activities result in the potential of pollutants being released into the environment, carrying environmental insurance is a good business practice. We’ll work together with you to find the right policy for your specific situation, so we can balance cost and coverage properly. Reach out to ISU Armac right away for more information.