Search
 

Perception versus reality

For all of the bad press the insurance industry receives for appearing hidebound, boring and risk averse, the reality of its responsiveness and creativity is evident in the way carriers have responded over the years to pollution liability.

By Laura Mazzuca Toops, Broker Editor | Updated on January 31, 2010

For all of the bad press the insurance industry receives for appearing hidebound, boring and risk averse, the reality of its responsiveness and creativity is evident in the way carriers have responded over the years to pollution liability. Pollution exposures are some of the ugliest out there, characterized by years of exposures and the potential for massive claims. But over the past 25 years or so, these exposures have moved from being virtually uninsurable to being covered seven ways from Sunday. And the cool thing: They are still evolving.

This issue’s focus on pollution risk covers the gamut, from how the basic coverages evolved (see “Evolution revolution: How the industry grew coverage to meet changing pollution exposures” ), to what pollution insurers are doing right now to respond to trends that are still developing (nanotechnology or Chinese drywall, anyone?). Although the prevalence of pollution exposures are present in just about every industry and business–some where you would least expect it–nowhere is this more evident than in the construction industry, where creative minds are anticipating exposures from the boom in green building (see “ Insurers ‘green up’ gray coverage areas)..

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.