Policies for Vessel Owners and Operators Covering PollutionFebruary 22, 2022
Commercial vessel operators are familiar with the potential seriousness of events involving pollution. Spilling a contaminant into the water can be extremely challenging to address. Vessel insurance that includes coverage for pollution is a vital safeguard.
Address Policy Gaps
Many general liability policies specifically exclude coverage for accidents that involve pollution. A policy that is designed to meet this gap can prevent people from having to face exorbitant liability that they cannot afford.
Take Swift Action
Responding to the release of contaminants in a body of water is a matter of serious emergency. Insurance can help people take fast action to begin remedial measures.
Comply With Regulations
The correct way to deal with water pollution may depend on where you are, and you have to exercise comprehensive compliance with the rules of the jurisdiction where an accident occurs. An authoritative agency in a state, county, or city may play an active role in directing cleanup efforts. A pollution policy can equip vessel owners and operators with the resources to comply with all applicable requirements.
In addition to providing assistance to deal with the immediate aftermath of a pollution event, an insurance policy could help vessel owners to address liability to third parties. Damage to the property of an individual or a business entity may fall under the scope of a policy.