The simple answer is, yes.
Society has shifted to be more environmentally cautious. With this in mind, if your business is one that produces hazardous waste emissions during manufacturing, you may need to look into pollution coverage. The industries that may be at risk include, oil, agribusiness, construction, excavation, waste depositories, and asbestos abatement contractors. There are various routes to follow for navigating the world of pollution coverage, which is why we’re here to help you navigate the best fit.
What is it?
The terms pollution coverage and environmental insurance go hand in hand.Because there are many different types of emissions that can occur in the environment, there are just as many that go into pollution coverage. Some of the things that your environmental insurance could cover are:
- Clean Power
- Land Management
- National Parks
- Natural Gas and Oil
- Endangered Species
- Climate Change
This may seem lengthyt, but is the tipping point to understanding the amount of resources that need to be covered.
California has varying laws compared to other states, but additional states are hopping on board to follow stricter legislation for businesses pertaining to the environment, so being proactive is the smart business move.
If you own or are part of a business in California then you are at higher risk of breaking environmental codes that are ever changing and evolving.. One example of this is a mistake made through The Permit System. Companies must follow strict guidelines for waste dropping into the ocean — a common occurrence along the West Coast.
Short term and Long term options
Although getting environmental insurance may seem like something that will only affect your business as a short term protection plan — there are long term benefits to pollution coverage. Gradual pollution has caused businesses to face public heat and massive fines.
Short term, there are more extreme effects that could happen. In the past, harmful and evenr fatal accidents have occurred within these businesses,, although it depends what kind of business you’re running (a contractor typically has pollution coverage alongside from general insurance).
Still not convinced?
If you do choose to forgo environmental insurance then there are risks involved. The risks mentioned above are greater than not committing to pollution coverage. Competitive Edge is here to help you navigate the specific coverage that works for your business.