The Importance of Environmental Risk Assessments

By Axis Marketing

"Polluter pays" is a principle of environmental law within Canada  that holds the polluters fully responsible for any present and future costs associated with pollution they cause. It is imperative to conduct a pollution risk assessment for pollution insurance to protect your businesses from the unforeseen. 

This whitepaper discusses the following about pollution and protecting your business:

  • Use case about a B.C. company that had to pay out $4.75 million in cleanup costs.

  • Preventative measures.
    • Risk assessment.
    • Pollution insurance.
    • Steps to avoid creating pollution in the first place.
    • Unexpected incidents.
    • Legislation in Canada constantly changing landscape.
  • Environmental risk assessment explained.
    • Evaluate your companies potential risks.
    • ERA can then be used to come up with solutions for prevention.
    • Inherent pollution risks due to the land your company occupies.
    • Third-party risks.
    • Geographical risks. 
  • Pollution insurance.
    • Types of coverage and customizable coverage.
    • Ancillary coverage.
    • Types of pollution exposures not included in other policies.
    • Aspects of pollution exposure:
      • Third-party claims.
      • First-party situation.
    • Pollution insurance helps with quick property transactions incase of sale.


Find Out More:

Download our “The Importance of Environmental Risk Assessments" white paper to learn more. 

Download Here


Tags: Energy, Resources & Renewables, General

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