It has made inroads into specialty lines, while interest in contingent business income remains elevated in the wake of catastrophes disrupting supply chains.
When concerns are raised about potential undetected pollution during the sale of an industrial-property site, the buyers lender typically requires its client to purchase Pollution insurance before the lender will finance the deal.
In what is being called one of the biggest Environmental insurance coverage rulings to come out of California in decades, the states highest court says policyholders can seek recoveries up to the policy limits and can stack multiple policies on long-tail claims.
In what is being called one of the biggest insurance-related environmental coverage rulings to come out of California in decades, the states highest court says policyholders can seek recoveries up to the policy limits and can stack multiple policies on long-tail claims.
According to a report from insurance broker Marsh, the percentage of clients purchasing Pollution Legal Liability (PLL) and Contractors Pollution Liability (CPL) policies has increased: Nearly 10 percent more PLL policies were sold in 2011 compared to 2009.
The dollar amount of environmental-insurance limits is on a downward trend, but that is not because of a lack of demand, according to a report from insurance broker Marsh.
Bill Pritchard, president of Beacon Hill Associatesa wholesale broker specializing exclusively in environmental-insurance solutions for commercial insuredsdiscusses emerging risks in this space, pricing and the new business opportunities presented by standard contractors.
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.