PI insurance specialist March launches new water utility contamination cover

UK PI insurance specialist Marsh recently announced its new product launch in regards to cover specifically for water utilities to insure against the legal costs associated with any serious drinking water contamination incidents.

With the public liability insurance industry regulations slowly but surely tightening, and terrorism threats continuing to increase, global firms that handle water utilities have been hardening their risk exposure attitudes.  Marsh claims its new tailor-made policy is groundbreaking within the insurance industry, being the first ever designed to specifically offer cover to water utilities.

The professional liability insurance has the ability to provide cover up to a total of £10 million in the event of a malicious contamination, an accidental contamination, or any extortion in relation to a public water supply, including a payment option for business and domestic customers in addition to anyone who suffered an illness or injury brought upon them by drinking any contaminated water.

Andrew Ainscough, Marsh’s senior vice president for Construction, commented on the new cover by saying that incidents regarding contamination to the water supply can and often do have very serious financial and regulatory repercussions for any company that manages drinking water distribution, to say nothing of the damage that can be done to the company’s reputation.

Mr Ainscough added that the clean up costs, in addition to providing potable water to the affected area, communications with customers, and any compensation made subsequent to any contamination could be quite significant.

Traditional policies that cover property and liability quite often provide very little to no protection against a serious incident of water contamination, according to information shared by Mr Ainscough, and water utility companies in the UK, Australia, the US, and the Asia-Pacific market have been demonstrating a growing interest in the new cover, which could protect them from any unfortunate events that occur in the future.

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