Few Property Owners will be unaware of the new environmental laws and increased regulations, which have taken place recently. The simple message is the polluter pays.

If a site has suffered environmental damage, the local authority will trace the responsible party and require them to clean the site and repair the damage. If the polluter cannot be traced or is not in a financial position to pay for the clean up and repair, the authorities will look to other parties to make the damage caused. It is often the property owner who will be the first point of call.

The changes in the industrial and manufacturing base now means there is a greater number of brownfield sites available for redevelopment. The issues of contamination, remediation and liability protection have to be addressed before redevelopment can take place.

Environmental Impairment Liability provides cover for the clean up costs of the Insured’s property as well as third party property, whether the contamination is gradual or accidental.

The cover provides substantial benefits to the Land Owner:

• Makes the land acceptable as security for loans
• Reduces liability
• Reduces development risks
• Streamlines sale and purchase process
• Reduces the provision for suspect land on the balance sheet.

Environmental Impairment Liability insurance offers back to back cover with environmental warranties and indemnities which can be as long as 25 years.