What is the definition of Environmental Impairment Liability Coverage?
Environmental Impairment Liability Coverage provides protection from liabilities and losses due to pollution.
Basically, people and business are held responsible for cleaning up contaminated property, as well as to pay for liabilities to other people that were hurt by the pollution or environmental hazard. There may also be fines imposed by regulatory bodies in your state or city, as well as decreased market share (for companies).
Environmental Impairment Liability Insurance is usually tailor made to fit the needs of the customer. It looks at basic aspects of the coverage: 1) impairment liability that is site specific (this may also cover the transfer of goods and property, as well as storage tanks; 2) lead/asbestos-abatement contractors; 3) environmental impairment liability of contractors; and 4) environmental impairment because of professional omissions and mistakes. For large companies, an expert insurance consultant is hired to help build the insurance policy cost effectively and in such a way that will sufficiently provide protection for the company.
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- Equity
- Equity Indexed Annuity
- Errors and Omissions Coverage (E&O)
- Escrow Account
- Excess and Surplus Lines
- Excess of Loss Reinsurance
- Exclusion
- Exclusive Agent
- Exclusive Remedy
- Expense Ratio
- Endowment Insurance
- Endorsement
- Employment Practices Liability Coverage
- Employer’s Liability
- Employee Retirement Income Security Act (ERISA)
- Employee Dishonesty Coverage
- Elimination Period
- Electronic Commerce / E-Commerce
- Economic Loss
- Earthquake Insurance