The Willis Towers Watson environmental practice designs and negotiates customised environmental insurance programmes to address the risk exposures unique to each organisation. Although every situation is different, programmes generally fit into the following categories.
For ongoing operations and unknown risks, environmental programmes can:
- Cover the environmental risks that might impact the operation of an industrial or commercial facility
- Cover environmental exposures created by the project activities of contractors, consultants and environmental service firms
- Protect lenders from environmental impairment of leased or mortgaged assets
- Remove or mitigate the environmental risks associated with change in ownership of a property
For legacy issues and known-loss scenarios, environmental programmes can:
- Provide coverage for latent third-party bodily injury and property damage claims
- Protect entities for known conditions in the event of a failed indemnification
- Address the reemergence of past environmental problems created by new regulatory requirements
- Provide clarity and certainty to legacy environmental issues and potentially provide a variety of financial, tax and accounting benefits
- Provide financial assurance that known future environmental liabilities, such as reclamation or closure obligations, can be addressed
