WORKSPILL - WHY YOU NEED IT
Most business insurance policies do not cover environmental damage caused by an oil spill, particularly if such damage is caused by a gradual event, for example, a leaking underground pipe.
Oil is among the most common pollutants in the UK and can be notoriously difficult and time consuming to clean up. The average cost to a business of cleaning up after an oil spill, is £40,000* and this can quickly escalate in to six figures, particularly if controlled waters, for example ground water, are affected.
If there is a spill from an oil tank at your site, which causes environmental damage, you will be legally liable to clean it up. You could also face a criminal prosecution resulting in a fine and/or penalty or worse, plus reputational damage to your business.
*For a typical business with a tank up to 5,000L capacity –Source: OSR Wales Impact Assessment (with stats.) 2016
WorkSpill - Cover provided
WorkSpill is a specialist insurance policy that has been designed for businesses that have oil storage tanks, providing cover for the costs of:
- Emergency works
- Repair or replacement of buildings or structures damaged in the course of responding to an oil spill
- Clean-up at your site as required by environmental law
- Your liability for property damage and bodily injury to third parties
- Legal defence costs
As a direct result of an oil spill from an insured oil tank.
Wide limits of cover available from £250,000 to £5,000,000
WorkSpill - Eligibility
Above ground oil tanks that are:
- Sited in England, Scotland & Wales
- Fixed ie not portable
- Up to 20 years old
- Up to 20,000L capacity
- Purpose made to store oil
- Compliant with oil storage regulations
- Well maintained
- Underground tanks
- Tanks that are not bunded
- Decommissioned or abandoned tanks
- Tanks that are not compliant with oil storage regulations
- Badly maintained tanks