The new policy offers legal liability coverage for small firms.
AIG Small Business, a division of AIG Commercial Insurance (NYSE:AIG), has introduced Contractors Pollution Liability Insurance for small and midsize businesses.
The new product provides legal liability coverage for bodily injury, property damage, and environmental damage resulting from covered operations at a job site, whether performed by the contractor or a subcontractor. It's available on a claims-made or occurrence basis, and offers protection against third-party claims that may not be included under a commercial general liability policy.
"Small residential builders, roofers, and other types of general contractors frequently face exposure to environmental risks associated with their work or the work of subcontractors under their management," Brian Inselberg, president of AIG Small Business, said in a statement. "CPL coverage was designed to be a cost-effective way to address these contractors' risks."