The insurance perspective

Conference · Sat Dec 31 04:00:00 EST 1994

OSTI ID:77993

Young, J A

There is a need for every environmental remediation contractor as well as any contractor with potential environmentally damaging operations to carry pollution liability insurance protection. No matter how experienced and safety conscious a contractor may be, equipment failures, human error or simply the inability to be 100% certain about all site conditions may result in an unexpected loss. The financial impact of a loss such as this may have very serious immediate effects on the contractors income and ability to stay in business. A million dollar loss would effectively put a small to medium sized contractor out of business while a larger concern would certainly feel the effects in terms of cash flow, the ability to retain key personnel and in the attraction new clients. Additionally, the contractor, small or large, is thrust into a situation involving environmental litigation and claims handling, two areas in which he most likely has no experience or expertise. This presentation will address the role that pollution liability insurance plays in assuring the proper completion of a remediation project without these negative effects, especially when the project goes awry.

• OSTI ID: 77993
• Report Number(s): CONF-9406319--
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
HAZARDOUS MATERIALS
INSURANCE
LAWSUITS
LIABILITIES
POLLUTION
REMEDIAL ACTION
WASTE MANAGEMENT