Environmental Remediation Contractors Insurance Louisiana Policy Information
Environmental Remediation Contractors Insurance Louisiana. As an environmental contractor, the services you provide are invaluable. Your job is to remove hazardous contaminants that could pollute the environment, such as surface and groundwater, as well as soil and sediment. You might also provide consultation services that help businesses learn how to reduce their carbon footprint.
Environmental remediation contractors remove, cleanup, or control pollutants or contaminants from buildings and other structures, soil, or water. They are called in when asbestos, lead, toxic mold or other environmental hazards have been identified by an environmental consultant as not being in compliance with EPA or other agencies such as OSHA and NFPA.
The method of remediation will vary based on the particular type of pollutant or contaminant and the site where it is found. The contamination can be removed or it can be treated in place. Removal involves physically cutting out the area of contamination and disposing of it in a landfill. The area of contamination is then replaced with new building materials or new soil. Treatment in place involves adding mitigation agents to absorb the contaminants, using plants or fungi to provide "good" bacteria to contaminated areas, or sealing off the contamination.
Given the nature of your job, there are a number of risks that could put you in jeopardy of financial trouble. In order to protect yourself from these risks, it's important that you have right environmental remediation contractors insurance Louisiana policies in place.
Environmental remediation contractors insurance Louisiana protects your business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
Why Do Environmental Contractors Need Commercial Insurance?
LA environmental contractors are exposed to a wide variety of risks on a regular basis. You work with a number of significantly harmful contaminants, such as sewage, biohazard, and medical waste, and other harsh agents. It's your job to tend to and clean up any spills of these contaminants that have the potential to negatively impact the environment. While your job is to help reduce the impact of harmful agents on the environment, there is a chance that you may actually end up causing contamination.
A barrel of waste could spill into a waterway, or an oversight could lead you to miss cleaning up all pollutants, which could result in damage to the environment. Should a mishap arise, you could end up facing serious financial trouble. The cost of repairing damages, legal fees, and any compensation that you might be required to pay can be exorbitant. Paying for these costs could put you in serious financial turmoil.
That's exactly why having the right environmental remediation contractors insurance Louisiana in place is so important. It protects you from the financial strain that may be associated with any accidents, damages, and lawsuits that may arise.
What Type Of Business Insurance Should Environmental Contractors Have?
In order to properly protect themselves, LA environmental remediation contractors should carry individual policies or a package of policies that offers the following coverages:
- Commercial General Liability - This type of coverage provides protection for any third-party injuries or property damage that may occur. For instance, if you or a member of your team were to damage a client's property while performing a service or if a piece of your equipment were to malfunction on a job site and injure a client or another contractor - and it was determined that you were liable, you would have to pay for any repairs or medical bills. If a lawsuit is filed against you, you would also have to pay for the legal expenses. With commercial general liability insurance, you won't have to worry about paying for these costs out of your own pocket, because your provider will pay for any expenses that you are liable for.
- Professional Liability - Also known as errors and omissions (E&O), professional liability insurance will protect you from any legal claims that someone might file against you for any errors and omissions that occurred when you provided your services. In other words, if a client claims you made a mistake - an error (negligence) - or you didn't perform a service that you said you would provide - omissions - and that error or omission caused financial harm, your professional liability coverage would help to pay for the cost of legal defense, as well as any damages that may be awarded.
- Contractor's Pollution Coverage - General liability doesn't cover all third-party bodily injuries and property damages. For instance, pollution incidents are excluded from this type of coverage. That's why you need contractor's pollution insurance. This type of coverage is designed specifically for contractors and it offers coverage for any third-party bodily injuries, property damages, cleanup, and legal defense costs that might occur as a result of any pollution that happens when environmental contractors are performing their services; things that your general liability policy doesn't cover.
- Workers' Compensation - If you employ a staff that assists you with the environmental services you provide, you'll also need to invest in worker's compensation insurance. If an employee sustains a work-related injury or illness, this type of coverage will help to pay for the cost of his or her medical expenses, lost wages, job training if he or she is unable to return to work, and more.
These are just some of the different types of coverages that environmental contractors in Louisiana should invest in. Policies can be purchased individually, but packages are available that offer most of these coverages under one policy.
LA Environmental Remediation Contractor Risks & Exposures
Premises liability exposures at the contractor's office are limited due to lack of public access. Outdoor storage may invite vandalism and attractive nuisance hazards. Off-premises exposures are high due to the potential for damaging customers' property during the removal of old building materials and installation of new materials.
Older materials generally contain asbestos, lead, or other hazardous environmental substances. The customer's employees or members of a customer's household can be injured by tripping or falling over tools, power cords, building materials and scrap. If there is work at heights, falling tools or supplies may cause damage and injury.
Completed operations exposures are generally high. Improper removal or mitigation can result in contaminants growing, causing additional damage to property or humans, and resulting in fines to clients.
Environmental impairment exposures are very high due to the removal, transport, and disposal of contaminants and old materials removed from structures or soil. Disposal procedures must adhere to all EPA and other regulatory standards. Proper written procedures and documentation of all processes is important. Training and supervision of employees are critical.
Professional liability exposure and errors and omissions exposure can be extensive if the contractor offers environmental counseling services due to the potential for environmental damage from ineffective advice or incorrect testing practices. All procedures must be followed and regular inspections conducted. Documentation must be clear, with changes marked and authorizations signed by both the consultant and the customer.
Customers can suffer financial loss if they must pay fines or cease operations due to a government order regarding environmental concerns. In addition, release of pollutants can cause property damage to surrounding residential or business areas.
Workers compensation exposure onsite is from office and laboratory operations. Repetitive motion injuries from use of office equipment can be reduced with ergonomically designed workstations. When there is a laboratory on premises, employees are exposed to pollutants, toxins or known carcinogens. Employees should have appropriate safety gear while working in laboratories and around any contaminants or pollutants brought onsite.
The exposures at job sites are significant. Workers are exposed to asbestos, lead, mold, and other contaminants during remediation work. Common injuries include eye, nose, throat, skin, and lung irritants, vapors, fumes, and toxins from adhesives, coatings, and solvents. Effects may be immediate or cumulative over a long period of time.
When work is done on ladders or scaffolds, severe injury or death can occur from falling, being struck by falling objects, or adverse weather conditions. The danger is reduced if there is good maintenance of scaffolds, proper use of basic safety equipment, such as properly installed guards, steel-toed shoes, and eye protection, and strict enforcement of safety practices. Appropriate safety clothing and decontamination areas must be provided for all workers.
Property exposure at the contractor's premises is limited to an office and storage of equipment, materials and vehicles. Ignition sources include heating units, electrical wiring, wear, and overheating of equipment. If repair work on vehicles and equipment is performed in the building, fire hazards increase. Customers' property may be stored on the contractor's site during the remediation process. If there is a testing laboratory on premises, chemicals must be separated from combustibles and stored in fireproof cabinets.
Crime exposure is limited to employee dishonesty. Employee theft of a client's property may occur while on a client's premises or while the client's goods are on the contactors premises. Background checks, including criminal history, should be conducted on all employees handling money or with access to a client's property. All ordering, billing and disbursement should be handled as separate duties with reconciliations occurring regularly.
Inland marine exposures include accounts receivable if the contractor offers credit to customers, computers, contractors' equipment and tools, installation floater, and valuable papers and records for customers' and suppliers' information. Equipment may include hand tools, ladders, and scaffolding. The materials awaiting installation are subject to loss or damage by moisture, by employees or other contractors, vandalism and theft. Valuable papers and records also include required licenses and documentation of contracts and project approvals. All records should be duplicated, with copies stored off-site.
Commercial auto exposures include the transportation of workers, equipment, and materials to and from job sites and transportation of hazardous waste to approved landfills. Collision or overturn during transport can result in contaminants being spread over a wide area. All drivers must be well trained and have valid licenses for the type of vehicle being driven. MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Vehicles must be well maintained with records kept in a central location.
Drivers may need a hazardous materials "hazmat" endorsement to transport some chemicals used. Hazards increase if the insured lacks spill control procedures and equipment.
LA Environmental Remediation Contractor Insurance
To find out more about the different types of insurance you should invest in and how much coverage you should carry, speak to a reputable agent that is experienced with Louisiana environmental remediation contractors insurance. There are several factors that need to be taken into consideration to determine how you can best protect yourself, your clients, your employees, and your business.
Louisiana Economic Data, Regulations And Limits On Commercial Insurance
If you are a business-minded individual who is either thinking about starting a new business or who wants to expand an existing business by opening a division in a new state, it's important to choose a location that offers favorable conditions.
In business, it doesn't matter how high-quality the products and services you offer are, if the products and services don't appeal to the market, you likely aren't going to succeed. With that said, if you are interested in starting a business in the state of Louisiana, having a basic understanding of the economic trends is important.
It's also a good idea to know what type of insurance you'll need to carry, as certain commercial policies are compulsory in the state.
Below, we provide an overview of economic trends of the Creole State to determine if it's the right location for your operation.
Economic Trends For Business Owners In Louisiana
Unemployment rate is a good indicator of a state's economy. The lower the unemployment rate, the more advantageous the environment will be for prospective business owners. Unfortunately, the unemployment rate of Louisiana is higher than the national average; as of December, 2019, the rate was 4.9%, which was 1.5% higher than the national average of 3.5% at the same time.
Additionally, the unemployment rate has increased; it was 4.3% in July of 2019, 4.5% in October, and 4.7% in November of the same year. However, despite this, the unemployment rate has decreased in recent years, which does show promise for entrepreneurs who are thinking about starting a business in the state.
The best spots to start a business in LA are large cities and the suburban areas that surround them. The following cities have seen the most significant industrial growth:
- Baton Rouge
- Lake Charles
- New Orleans
Businesses in various industries do well in the state of Louisiana; however, there are specific sectors that are seeing substantial growth. Those industries include:
- Advanced manufacturing
- Commercial fishing
- Crude oil
- Natural gas production
- Software development
- Water management
Commercial Insurance Requirements In Louisiana
The Louisiana Department of Insurance regulates insurance in LA. Louisiana mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Louisiana requires you to have worker's compensation insurance if you hire even one employee on a regular basis or must be approved for self-insurance. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Louisiana also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Appliance Repair & Service
- Blacksmith & Metal Workers
- Boat Repair & Dry Docks
- Boiler Contractors
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- Cistern Contractors
- Contractor Liability
- Curtain Cleaners
- Deck Builders
- Door And Window Installers
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Environmental Remediation Contractors
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Furniture Repair
- Garage Door Installer And Repair
- General Contractors
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- Oil And Gas Well Drilling Contractors
- Paperhanging Contractors
- Plastering And Stucco Contractor
- Pressure Washing Contractors
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Sandblasting Contractors
- Security Alarm
- Septic Tank Cleaning
- Siding Contractor
- Sign Installation & Repair
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Surety Bonds
- Swimming Pool Contractor
- Swimming Pool Service And Maintenance
- Tool Grinding And Repair
- Tree Surgeon
- Tree Trimming
- Tank Cleaners
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.
Request a free Environmental Remediation Contractors Insurance Louisiana quote in Abbeville, Alexandria, Baker, Bastrop, Baton Rouge, Bayou Blue, Bayou Cane, Belle Chasse, Bogalusa, Bossier City, Breaux Bridge, Bridge City, Broussard, Carencro, Central, Chackbay, Chalmette, Claiborne, Covington, Crowley, DeRidder, Denham Springs, Destrehan, Donaldsonville, Eden Isle, Estelle, Eunice, Fort Polk South, Franklin, Galliano, Gardere, Gonzales, Gray, Gretna, Hammond, Harahan, Harvey, Houma, Inniswold, Jefferson, Jennings, Kenner, Lacombe, Lafayette, Lake Charles, Laplace, Larose, Leesville, Luling, Mandeville, Marrero, Meraux, Merrydale, Metairie, Minden, Monroe, Morgan City, Moss Bluff, Natchitoches, New Iberia, New Orleans, Oak Hills Place, Oakdale, Old Jefferson, Opelousas, Patterson, Pineville, Plaquemine, Ponchatoula, Prairieville, Prien, Raceland, Rayne, Red Chute, Reserve, River Ridge, Ruston, Schriever, Scott, Shenandoah, Shreveport, Slidell, St. Gabriel, St. Martinville, St. Rose, Sulphur, Tallulah, Terrytown, Thibodaux, Timberlane, Village St. George, Ville Platte, Violet, Waggaman, Walker, West Monroe, Westwego, Woodmere, Youngsville, Zachary and all other LA cities & Louisiana counties near me in The Pelican State.
Also find LA local small businesses by General Liability Class Code and learn about Louisiana small business insurance requirements for general liability, business property, commercial auto & workers compensation including LA business insurance costs. Call us (318) 232-4100.