AIG Europe (UK) is to include an environmental insurance cover in its public liability policies at no additional premium.
The group said the £25,000 cover would allow policyholders to investigate and to assess, minimise or prevent the effects of contaminated property.
AIG Europe (UK) senior environmental impairment liability underwriter Alan Grayston commented: “The implementation in 2000 of Part IIA of the Environmental Protection Act means many businesses, especially those occupying developments on brownfield sites, could now be liable for the costs of remediation of contaminated land they own or occupy, even if someone else may have caused the contamination.”
