Oil Spill – Oil Leak
This series of blog posts or articles detailing oil tank insurance coverage or home oil tank leak are for both homeowners insurance and a situation of homeowners insurance oil tank leak & business oil spill insurance coverage. The difference being usually the scale of the oil spill and the types of insurance coverage / policy and oil spill insurance coverage.
OIL SPILL INCIDENTS, OIL SPILL IMPACT & DAMAGE
Risks associated with oil spill:
OILS SPILL INCIDENTS :
Step 1: Identify the risks
Risks may arise from many sources, such as:
• Oil delivery tankers.
• Unsuitable filling points.
• Over fills of oil tank
• Absence of bunding for oil storage tanks
• Damage, corrosion and wear and tear on oil pipework and metal oil tanks
• Poor fitting connections between the oil feed and the oil burner
• Malicious damage by a third party in the act of theft of oil
• Infrequent inspection and maintenance oil tanks
OIL SPILL IMPACT / DAMAGE
When assessing the impact of an oil spillage and/or oil pollution incident, consideration should be given to the impact on the following areas:
A) Your own land & 3rd party land via migration of oil spill contaminant through soils, groundwater and surface water
B) Human health i.e. exposure to oil spill contaminants (The general public, staff / employees, etc.)
C) Business Continuity, a lengthy closure from an oil tank leak could lead to business interruption
D) Your own and third-party building structures and services, such as:
– Direct impact:
> Oil spill Dissolving plastic or resin-based damp proof courses and membranes
> Dissolving polystyrene-based oor and cavity insulation
> Dissolving bitumen membranes,tarmac and asphalt
> Penetrating water supply pipes
– Indirect impact:
> Impregnating block work, concrete, plaster board, fixtures and fittings, soft
furnishings, etc., which in turn act as a source of vapours to internal areas.
Our next post is : Managing the risks associated with oil spill