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 AIG Australia > For Businesses > Liabilities > Environmental
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What is it?
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Environmental Insurance protects businesses and individuals from the financial consequences
of environmental contamination. This could be as a result of their own pollutants
or someone else's and can cover sudden, gradual or accidental contamination, for
past, present and also future liabilities.
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Standard General Liability policies do not provide sufficient cover against contamination.
They do not cover gradual contamination or the impact of this contamination on the
land or a business
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Why do you need it?
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As public awareness increases, more sites and businesses are being scrutinised,
and businesses causing pollution or occupying contaminated land are being required
to clean it up. Even if the contamination was caused many years ago by previous
owners of the site responsibility for clean up can still rest with the present day
(or even previous) owners or occupiers, irrelevant of their size, activity or awareness.
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Who needs it?
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There are a large number of organisations that need this type of insurance protection,
in particular:
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- Any companies using potential pollutants (whether as a fuel, manufacturing ingredient
or waste product)
- Any companies that own land, or that bought or sold land in the past including
those in the development of brown field sites
- Any companies that have given or received environmental indemnities
- Any companies involved in mergers and acquisitions
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Why use AIG Australia ?
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We have a long and successful track record of providing insurance protection for
major environmental risks worldwide. Some of the features that differentiate our
products include:
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- AIG Australia's rock solid financial stability and global resource
- Very high limits available
- Policies cover changes in legislation during policy term
- Legal Defence costs included
- Cover for new and historical conditions
- Long term policies available
- Covers for sudden, accidental and gradual contamination and on and offsite clean
up and restoration costs
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Find out more
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Contact us
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