Writers of environmental liability insurance see both threats and opportunities ahead as carriers conduct business under an Obama administration expected to put more emphasis on heading off climate change.
While this increased focus could lead to more claims activity, experts predict carriers could also see new insurable risks as the nation explores alternative fuel solutions and green construction, generating growth in a market already described as vibrant and competitive.
Risk managers and their carriers should brace for more rigorous enforcement with respect to environmental regulations from this administration compared to the previous one, said M. Claire Juliana, an assistant general counsel in the Environmental Business Unit for the Commercial Markets Division of Zurich.
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