Report: Contractors should get coverage for environmental risks

10/11/2010 | PropertyCasualty360

Contractors should obtain insurance coverage for pollution liability as they embark on business ventures outside their expertise, according to a report from insurance company ACE. While inexperience could result in remedial work and other problems, regulators are stepping up efforts to enforce environmental laws, increasing risk exposure for contractors, the report said. Regulatory reforms have also led to changes in coverages, which can "provide vital insurance protection against liability from pollution incidents for which contractors, subcontractors, and consultants may share legal responsibility," the report added.

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