Buyers Brace For Hard Pollution Market
As the insurance industry braces for themassive onslaught of claims brought on by the Sept. 11 terroristattack that leveled New Yorks World Trade Center, players in theenvironmental insurance industry are gearing up for a tighterpollution liability market, industry sources say.
Small to mid-sized environmental insurers are feeling thebiggest impact, according to Brian Donovan, president of Steel TankInsurance Company, a captive in Burlington, Vt., pointing to thestrong dependence of such carriers on the reinsurance market, whichhas seen dramatically rising rates.
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