Past and Future Trends in the Environmental Liability Insurance Industry

Schroeder, Robert P.

Past and Future Trends in the Environmental Liability Insurance Industry

1996

New York Institute of Technology

Insurance, Pollution liability--United States
Liability for environmental damages--United States

English

PDF

Thesis (M.S.)--New York Institute of Technology

School of Engineering and Computing Sciences

Department of Environmental Technology and Sustainability

Sarah J. Meyland, M.S., J.D.

The goal in researching past and future trends in the environmental liability insurance industry is to discuss its relatively brief history and then determine how it will meet the present and future trends in the environmental industry. What was discovered at every turn was a lack of knowledge and preparedness at the corporate level and that risk managers and attorneys failed to work as a team pertaining to environmental matters.
According to industry experts, proactive/ pollution prevention is becoming increasingly important to the environmental industry as a whole. With the implementation of pollution prevention, environmental insurance products should become more attractive as underwriting criteria becomes less stringent. As the demand to rehabilitate "Brownfield sites" eases and environmental restrictions in mortgage lending increases, the environmental liability insurance industry will see continued growth in the coming years.