Shield Your Firm With Contractors Pollution Liability Secrets
Real-World Examples and Statistics
The importance of CPL insurance is underscored by real-world incidents where businesses faced substantial financial burdens due to pollution claims. For instance, a construction company in the Midwest incurred over $1 million in cleanup costs after an accidental fuel spill contaminated a nearby waterway. Without CPL insurance, such expenses could have been crippling1.
According to the Environmental Protection Agency (EPA), businesses can face penalties ranging from $10,000 to $25,000 per day for non-compliance with environmental regulations2. CPL insurance helps mitigate these risks by covering potential fines and ensuring compliance with environmental laws.