What type of insurance is often required for asbestos contractors?

Liability insurance specifically covering asbestos-related activities is often required for asbestos contractors because it addresses the unique risks associated with handling and working with asbestos materials. This type of insurance provides coverage for lawsuits and claims that may arise due to exposure to asbestos, which is known to pose serious health risks, including asbestosis and mesothelioma.

Asbestos removal and abatement work can lead to significant liabilities if workers or the public are harmed, making it essential for contractors to be adequately insured against these specific occurrences. Regulatory standards often necessitate that these contractors maintain specialized liability coverage to ensure that they can address any legal claims related to their work.

General liability insurance may cover some aspects of business-related liabilities but may not provide comprehensive protection against asbestos-specific issues. Property insurance typically covers damage to physical assets rather than liabilities arising from operations. Health insurance for workers, while important for overall employee wellbeing, does not cover liabilities arising from asbestos exposure, thus making it insufficient as a standalone solution for the risks associated with asbestos work.