Environmental damage insurance protects against the financial consequences caused by environmental damage.
This includes, but is not limited to, damage to water, soil, air, and other natural resources.
The insurance covers not only the costs of damage repair and restoration, but also the company's liability for the damage incurred.
Environmental damage insurance is essential coverage for companies that work with environmentally hazardous substances or in environmentally critical industries.
Typical examples of damage include leaks of chemicals or oil that can enter bodies of water and endanger the environment and the health of humans and animals.
The accidental release of pollutants into the air or groundwater can also cause significant environmental damage.
Environmental damage insurance is particularly recommended for companies and industries that work with environmentally hazardous substances or operate in environmentally critical areas.
This includes, for example, companies from the chemical and pharmaceutical industries, the oil and gas sector, but also agricultural businesses or logistics companies that transport hazardous goods. Environmental damage insurance can also be useful for property owners who are at risk of soil or groundwater contamination from old oil tanks or contaminated sites.
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