WBNetADD connect
Direct contact

+32 16 43 11 00


info@add.be Contact us

You are here

Environmental insurance only all-round insurance for environmental damage

News
21 December 2017

 

Environmental legislation is strict. This ensures that companies become aware of the risk and invest in environmental security measures. If environmental damage does occur, the ‘polluter pays’-principle will apply. The person who causes the pollution must pay the repair costs and these can be very high. In the case of soil pollution, the soil must be cleaned up, the damage to third parties must be repaired and compensation measures must be taken.

The problem is that many of these costs are not covered by other insurances. Fire insurance does provide a small cover for clean-up costs, but does not include clean-up costs for land, water pollution or natural habitat. In the operating civil liability insurance a small part of accidental environmental damage has been covered for damage to third parties. Environmental damage on your own site or damage to biodiversity is thus not covered by your BA property insurance.

Conclusion: for damage on your own site (accidental or gradual) neither the fire insurance nor the operating civil liability insurance intervenes. For this kind of damage there is the environmental insurance.

Underwriting an environmental insurance is not compulsory in Belgium, but it is highly recommended. Environmental damage insurance covers you for pollution of your own site, both accidental and gradual; liability for environmental damage to third parties; defence costs; clean-up costs and damage to biodiversity. If your company faces a particular environmental risk, you can include specific extensions in your policy.

Would you like more information? Contact ADD's expert on environmental risks, Paul Caekebeke.

Other news and events

  • Transport

    Loading and unloading: is the carrier liable for damage or loss?

    Many entrepreneurs who have goods transported wrongly assume that the carrier is always liable for loss or damage during transport. There is a...
    15 October 2020
  • Trade credit

    Is there credit insurance that also covers preshipment risk?

    Suppose your company makes made-to-measure cupboards and receives a large order from a hotel chain. You enthusiastically set to work in order to be...
    02 October 2020
  • EngineeringEnvironmentInternationalLiabilityPropertyTransport

    Do you insure your foreign risks locally? A conventient guide

    International business calls for a special approach when it comes to insurance. Many companies, aiming for global success, consciously opt for an...
    10 September 2020
  • Transport

    Cybercrime does not leave the transport sector alone either

    Technology does not stand still, unfortunately not in the world of cybercrime either. For some years now, cybercriminals have been focusing less on...
    28 August 2020
  • International

    2020 WBN Broker Ranking

    ADD is (still) proud to be part of the largest independent network of insurance brokers in the world as an exclusive partner for Belgium. More about...
    03 August 2020