As something that impacts both the environment and human health, groundwater companies are heavily regulated. As such, groundwater insurance offers specific protection of the industries unique liabilities. Don’t be left deep in the well without a lifeline. There are several types of insurance policies that offer the business protection against a claim.
General Business Policies
Like many businesses, groundwater operations benefit from having a workers compensation policy in the event an employee is injured on the job. Professional, general, employment practices and employee benefits liability all help protect the business against a variety of risks.
Industry Specific Policies
The industry is regulated by the Environmental Protection Agency. Having an excess liability coverage policy goes above and beyond traditional liability coverage. Avoid a costly HAZMAT claim coming out of the business’s coffers with a pollution liability policy with a HAZMAT rider. Some projects require completion or performance bonds. Companies who drill or maintain wells benefit from a comprehensive down-the-hole coverage.
One claim can result in a financial loss for the company. Even if that claim is determined to be false, the litigation costs and time spent in court take away from the business. Groundwater insurance helps take on some of that stress, so you can focus on providing safe, clean water.