Type to search

Environment Featured

Managing environmental risks is a necessity for businesses

The management of environmental risks, more than a duty, is a necessity. Many companies have made this a priority understanding that losses related to environmental pollution constitute a direct impact on the financial stability of the business. For nearly four decades. AIG has been delivering environmental insurance solutions to businesses of all sizes.

At AIG, we work with two essential products that cover both the exposure premises (Pollution Legal Liability) and the exposure that contractors (Contractor’s Pollution Liability) may have while performing their work.

PLL Insurance protects the insured in their responsibility as owner or manager of specific facilities whose operation generates exposure to losses due to environmental contamination. This includes on site cleaning relating spills that occur within the insured premises or migrate out of these, personal and material injuries to third parties, damage to natural resources, business interruption, among others.

PLL may apply to almost every industry that owns, leases o acquires real estate, such as: food & beverage production, shopping centers, manufacturers, pharmaceutical, chemical distributors, logistics, laboratories, hospitals, and ports, among others.

Author Ivette Cotto-Ortiz, CISR, is Casualty Manager at AIG Insurance Company Puerto Rico.

On the other hand, the CPL policy covers every contractor who works on the premises of a client and faces the risk of causing bodily injury and damage to the property of others due to contamination. Such situations include, but are not limited to solvent or fuel spills, explosions and release of toxic vapors caused by underground gas or fuel lines that have been impacted by contractor equipment, chemical explosions caused by improper handling of substances, contamination of water or land by transport of material and air pollution by handling of materials such as asbestos, etc.

Some industries that this coverage might apply to are consulting firms (engineering), construction, service and maintenance, and environmental remediation.

As you can see, AIG provides various environmental related insurance products to cover our insureds from their responsibility arising from contamination affecting third parties, as part of their operations. Our expansive global network of subject matter experts, dedicated loss control specialists and in-house claims professionals enable us to provide services that go beyond the insurance policy itself and focus on the individual needs of each client.

Ask your authorized insurance agent or brokers for guidance and design a cover with adequate protection or you can call us at (787) 767-6400.

Certified for the seventh consecutive year as a Women Certified Company, AIG has been in Puerto Rico since 1974. More than four decades later, its commitment to ensuring the country is stronger than ever, providing commercial insurance solutions to small, medium, and large companies. Its product offering includes directors’ and officers’ insurance; employment practices, professional responsibility; construction, environmental and cyber risks; commercial property; public responsibility and maritime land, among others. For more information visit www.aig.com.pr.

Author Details
Author Details
This story was written by our staff based on a press release.

Leave a Comment

Your email address will not be published. Required fields are marked *