The polluter must pay.
The costs of cleaning up polluted land can be huge. However, says David Fanning, too few companies are aware of the need for environmental impairment insurance.
Environmental liabilities - both past and present - pose seriouslydamaging threats for businesses. The first logical step to take is for
businesses to be fully aware of their liability exposure, principally by
undertaking regular pollution risk analyses and assessments. These will
lead to two strategic actions: the management of environmental pollution
risk, and the transfer of at least part of that risk through environmental
impairment liability (EIL) insurance.
With the Environment Act 1995
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