Environmental liability provides financial protection against losses arising from pollution releases, and is designed specifically to address the Environmental Liability Directive (2004/35/EC) and local legislation that makes companies face an increased liability for pollution damages and simultaneously has launched the concept of biodiversity - the protection of natural resources, including protected species and natural habitats. The Directive was implemented in Slovak legislation through Law No. 359/2007 effective September 1st 2007, and applies for virtually all businesses.
Who is it for?
- Manufacturers in the electrical and electronic, energy, metal and plastics, textiles, paper and specialty chemicals (pharmaceutical, paint, paints, pesticides) sectors
- Bulk storage terminals and warehouses holding chemicals or oil and oil-based products
- Treatment facilities and waste disposal facilities
- Transportation and logistics companies
- Construction industry
- In general any company using potential pollutants
What could be covered?
- Not only Sudden & Accidental Pollution => Gradual Pollution Conditions included
- Related Property Damage and Bodily Injury
- Remediation Costs
- Mitigation Expenses
- Clean-Up Costs (On-site and Off-Site)
- Biodiversity Damage
- Business Interruption Expenses
- Associated Legal Costs