For environmental contractors and consultants, environmental insurance provides them with the ability to grow a business and bid on contracts. Without the correct limits, or complete coverage, a company is unlikely to be awarded lucrative contracts.
It’s important for environmental contractors and consultants to understand their insurance needs and what is covered in their policies. Not fully understanding a company’s environmental insurance policy could be giving more than a contract for a job requires which could actually potentially expose a company to unnecessary risks.
An environmental company’s General Liability policy covers Bodily Injury and Property Damage to others. A Pollution Liability policy covers environmental damage and a Professional Liability (Errors and Omissions) policy covers financial loss due to one’s opinion.
In the environmental insurance industry, combining these coverages is referred to as a package. Other insurance markets would refer to these individually as monoline policies. “There are many benefits to a package policy, including significant cost savings,” reported Brian Mcfarland, Vice President of Legends. “Every insurance policy starts with the main policy, usually referred to as the policy form or standard form. From there, endorsements or changes are added to the policy to modify that original form. Some policies have three endorsements, some have 30; it all depends on the insurance company. At Legends, we offer environmental insurance packages and streamlined applications that simplify the process and ultimately save Legends’ customers money.”
Legends Environmental Insurance Services has over 40 years of experience providing coverage to companies providing environmental services. Legends understands the unique insurance needs and requirements faced by environmental consultants and contractors doing business in the United States and Canada.
To learn more about environmental insurance programs for consultants and contractors or Legends Environmental Insurance Services, please visit: http://www.Legends-enviro.com, call (800) 992-6999 ext 164 or email BrianM@Legends-enviro.com or Bill@Legends-enviro.com.
About Legends Environmental Insurance Services, LLC
Legends Environmental Insurance Services is nationally recognized as an innovator in providing environmental and restoration insurance programs. The company has over 40 years experience and provide their services in all 50 states and Canada.