Among the most interesting developments in environmental liability coverage is that the recovering economy is turning businesses from window-shoppers into buyers.
According to Marsh's analysis of the environmental market, demand for environmental insurance across all U.S. industries increased in the first half of 2013, a qualitative assessment based on the broker's assessment of activity, placements and dialogue with insurance carriers.
Richard M. Sheldon, Willis North America environmental practice leader, concurs: “We are seeing many more submissions for environmental coverage related to merger-and-acquisition activity than we have in the year or two prior. There has been a growing desire to understand what's available in all areas of environmental cover, and particularly a greater demand for owner-controlled contractors' pollution liability (CPL) over the past year.”
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