A pollution and remediation insurance policy has been launched by Perpetual Environmental to complement its existing risk and investigation services to property developers.
Perpetual, based in Henley-on-Thames, launched into the insurance market following Government pressure to develop brownfield sites.
"The ownership and development of these sites can also be financially hazardous," said operations director, Norman Peters. "The problem is that many brownfield sites are contaminated. Where the polluter cannot be pinned down, the current owners can find themselves in the front line of the remediation and liability battle."
Policy features include long-term combined pollution clean-up and legal liability; remediation works cost-capping; business interruption and on-site bodily injury arising from pollution exposure.