The plethora of companies that manufacture products with chemicals in them require considerable liability insurance limits that can protect them in the event they are sued due to any of the associated hazards associated. The fact that there is significant environmental impairment exposure as well only adds to the urgency of the requirement.
Because chemicals are caustic in nature and have an inherent explosion risk when combined, the related property liability and business income coverage is difficult to write.
The risk exposure for Workers Comp insurance is very high. This is why there is a real need for extensive loss prevention management programs.
Moreover, Commercial Auto and Inland Marine risks vary as per the way chemicals and products with base components of chemicals are transferred from one place to another.