What is Contractors Pollution Liability Insurance?
CPL is specifically tailored to the needs and exposures faced by contractors and offers a business-critical solution to help minimize loss when pollution conditions result from covered operations at a job site. The environmental insurance coverage has been adapted over the past few decades to meet changing market demands.
Why does your business need Contractors Pollution Liability Coverage?
- A contractor hired by a large development corporation begins work on a warehouse and uncovers asbestos in the walls
- During the development and construction of a residential community, excessive soil erosion and site run-off from the work site contaminate a local creek
What does Contractors Pollution Liability cover?
CPL protects contractors against third-party claims for bodily injury, property damage or environmental damage (including related defense defence costs) resulting from pollution conditions caused by covered operations performed by or on behalf of the contractor. Target classes include a wide range of construction and commercial services contractors (contractors of all revenue and size), and all construction projects including OCIP & CCIP.
- Coverage for third-party bodily injury, property damage and environmental damage
- Coverage available on either a claims-made or occurrence basis
- CPL and Contractors Pollution Occurrence (CPO) offers limits up to $50M and minimum premium of $5,000. For contractors with revenues below $20M, we offer minimum premium of $2,500
- Available non-owned disposal site coverage
- Available site-specific insured property coverage for contractor’s own premises
- Available additional defence expense
- Available expanded definition of pollution conditions may include microbial matter, legionella, silt, and sedimentation
- Coverage for emergency response costs matches limit of liability
- Financial strength rated A+ by S&P, and A by AM Best
The AIG Advantage
- Employs experienced underwriters who leverage AIG's 35+ years of environmental market knowledge and expertise to write flexible, high-quality CPL solutions with tight turnaround deadlines (when necessary)
- Enables program flexibility to help clients meet contractual requirements, including project based multi-year policies and the potential for an extension of territory beyond Canadian or American policies
- Supports clients and underwriters with risk management program evaluations by engineers with years of insurance and environmental consulting experience
- Policyholders have access to a 24/7 nationwide network of pre-vetted vendors for emergency response and cost control via the Pollution Incident and Environmental Response (PIER) Program®
- AIG has experience handling large and complex pollution claims with a specialized pollution claims team
- Provides cost-effective claims handling for litigation and mediation issues and enables clients to spend up to $10,000 in pre-claim expenses (e.g., mediation, settlement)
- Commits to partnering with brokers and clients for the long-term