How can we best describe the evolution of environmental insurance products for site owners from beginning in the late 1980s until today? Simply put, the environmental insurance industry stretched its creative capacity to innovate and be ahead of the curve to meet its clients' needs. Today, pollution insurance covers not just the here and now, but whatever risks and exposures could potentially lie ahead.

Almost 25 years ago, the first environmental insurance policy was created for site owners (entities with one or more properties under its care; in most cases a property owner, but also could include a lender or real estate developer). It was called pollution legal liability (PLL) insurance. This policy provided coverage for bodily injury, property damage or cleanup costs claims made against a site owner by third parties due to the off-site release of environmental contaminants from the site owner's insured property. It was a very successful insurance product, but coverage solely for off-site environmental release had its limitations.

Since the creation of the PLL policy, environmental insurance carriers have developed additional products and coverages that protect a site owner in a "cradle to grave" approach to pollution exposure. This approach recognizes that a site owner is susceptible to environmental liability throughout the lifespan of a property: from the time it is acquired, during its useful purpose, and to the time it is sold or abandoned.