Those risk managers who buy environmental insurance, and the brokers and agents who help arrange environmental insurance coverage, know that the environmental insurance world presents many special challenges. As people become more and more eco-minded, the importance of environmental insurance is also increasing. Not just for oil companies anymore, environmental insurance is needed by a broad spectrum of customers, from real estate agents to contractors and developers to farmers. Exposures such as water quality, indoor air quality, bacteria and mold now are being characterized as environmental issues, making environmental insurance important to have in addition to general liability. This special section dedicated to environmental insurance will keep you informed about key trends with featured reports, interviews with experts, white papers, recommended resources and the latest news.
Head of the Line
Click through to check out biographies of the brokers, carrier executives and risk managers dealing in Environmental insurance who offer their perspective throughout PC360-NU’s January digital issue. The subjects also offer additional thoughts on this line, including their views on why more clients should strongly consider this relatively inexpensive but highly valuable coverage.
PC360 speaks with Bill Pritchard, president of Beacon Hill Associates, a wholesale broker specializing exclusively in environmental-insurance solutions for commercial insureds. He addresses capacity, pricing, emerging risks, and top-of-mind concerns among both buyers and carriers.
Drought, heat and hot wind conditions racked up $17.3 billion in insured crop losses last year, according to the Natural Resources Defense Council.
The standard rap on Environmental insurance is that organizations only purchase it when they have to—required either by regulatory bodies or lenders to secure the coverage. But it’s a different story for at least some of the clients of Marsh, the dominant Environmental brokerage.
Beacon Hill's producers talk about what they are seeing in the market, noteworthy trends, and give their "take" on the environmental insurance marketplace.
Environmental Risk Resources Association