Insurance for companies exposed to pollution risks launched

Insurance for companies exposed to pollution risks launched | Insurance Business

Insurance for companies exposed to pollution risks launched

Aon has rolled out a new insurance product designed to safeguard companies against environmental events.

Aon’s Safety Hazard Environmental (SHE) Liability insurance combines statutory liability and workplace health and safety with environmental incident response (EIR), which can cover the costs from an unexpected pollution incident that may arise from business activities.

The EIR extension ensures companies at risk of a pollution event, like those in manufacturing, construction, transport, and logistics, have an environmental incident response in place in the event of a pollution incident, providing them with a broader response to pollution than general liability or property policies.

“Pollution incidents are costly, complicated, and can take a long time to resolve, however the EIR extension will be an enormous benefit to companies exposed to environment and pollution risks,” said Cami Mok, head of environmental services group at Aon.

The new offering include access to environmental professionals who can provide advice, emergency response costs to address and mitigate a pollution event, insured’s costs to investigate and clean up pollution, compensation to third parties who have been injured from the pollution event, including defence costs, and public relations and crisis management services to manage media attention.