Ecological Insurance

Activities of companies operating in various fields may result in serious damage to human health, as well as hazard to the environment. Such hazardous accidents may lead to severe social and economic problems.

Accidents caused particularly in industrial units may cause environmental pollution and material damage, and even result in death. Such incidents can also hinder and even stop operations of other enterprises.

Environmental insurance is a mechanism to protect property interests of such enterprises, offices and organizations by preventing, mitigating and eliminating adverse effects of environmental pollution risks and reimbursement of costs emerging from such risks.

Importance of the environmental insurance is outlined below:

• Involvement of enterprises in transportation of on-site facilities and hazardous substances is considered highly dangerous, which in raises the issue of liability as a result of damage to third party property and health from such enterprises.

• Environmental pollution may have disastrous results and these unexpected disasters may have a massive scope.

• Depending on the type of activity of the enterprises, environmental risks such as pollution and third party damages take a long time to emerge and often significant amount of expenses is incurred to cleaning up effects of such risks.