🌍📝 New Blog Post! Explore the impact of PFAS exclusions in insurance for environmental consulting firms. Stay informed and protected! 🛡️🌱 #EnvironmentalConsulting #InsuranceInsights #PFAS #InszoneInsurance https://lnkd.in/gA6kMeyx
Inszone Insurance Services’ Post
More Relevant Posts
-
The environmental insurance sector is experiencing robust growth, with providers seeing year-over-year growth exceeding 25% annually. This momentum is fueled by several key factors: - Growing public awareness and media scrutiny of major pollution incidents, high-profile legal cases related to PFAS contamination, and other environmental risks. This spotlight is driving demand. - More rigorous enforcement efforts by the EPA (Environmental Protection Agency), including escalating fines and penalties for regulatory violations. This is raising the compliance stakes. - Many businesses are now facing contractual requirements from partners and lenders to carry environmental liability coverage like Contractors Pollution Liability (CPL), Owners Protective Professional Indemnity (OPPI), and Pollution Legal Liability (PLL). - Heightened interest from commercial and residential contractors in environmental insurance offerings to meet client risk transfer demands and shore up liability gaps. In response, carriers are expanding into new sectors by offering combined General Liability and CPL policies beyond traditional environmental firms. However, the coal industry remains a challenge, as insurers withdraw coverage based on ESG considerations. Oil/gas retains more access through brokers with robust underwriting relationships. On renewals, pricing trends diverge: Pollution Legal Liability and Contractors Pollution Liability seeing relatively stable rates, while primary layers and combined GL pollution policies are seeing modest 0-5% increases. More significant 5-15% hikes occurring in excess layers, especially for auto fleets carrying pollution exposure. The market is also seeing an influx of new entrants, with over 40 environmental divisions now active representing $300M in capacity. Additional capacity from London syndicates raises available coverage to approximately $500M. Key expansion areas include: - Manufacturing/Distribution: Carriers offering more standalone excess policies over primary GL forms with sudden/accidental pollution coverage. A major shift from the past. - Construction: Combined GL and CPL policies now accessible to most contracting classes, including follow-form excess aligning with primary terms. - London Market: Despite new capacity, pricing and capacity discipline remains stable overall. However, limitations persist around emerging risks: - PFAS exclusions are increasingly prevalent due to widespread litigation over PFAS exposure. Limited cover for known exposures. - EPA PFAS standards expected soon, likely requiring cleanups and fueling demand for consulting and environmental contracting. - Evolving social factors, including EPA environmental justice initiatives and lawsuits from NGOs targeting industrial activity in disadvantaged areas. #environmentalinsurance #PFAS #pollutionliability #OPPI #oilandgasinsurance #emergingrisks #riskmanagement
To view or add a comment, sign in
-
-
Why Your Business Might Need Environmental Insurance Environmental insurance is designed to protect businesses against financial losses resulting from environmental damages or pollution incidents. It provides coverage for costs associated with cleanup, legal fees, and damage claims. #businessinsurance Learn more: @sf_insurance
Why Your Business Might Need Environmental Insurance | SmartFinancial
smartfinancial.com
To view or add a comment, sign in
-
How environmental insurance diligence can shape commercial real estate transactions https://lnkd.in/emK-JuFk #environmentalinsurance #realestate #pollution
How environmental insurance diligence can shape commercial real estate transactions
insurancebusinessmag.com
To view or add a comment, sign in
-
ALIGNED Insurance works with many insurers who offer environmental site pollution insurance. These policies are designed to respond to pollution and environmental damage arising from the insured’s properties and associated business activities. Read more about site pollution insurance here https://ow.ly/uczy50QkRXo
Environmental Site Pollution Insurance Quote | ALIGNED
https://www.alignedinsurance.com
To view or add a comment, sign in
-
ALIGNED Insurance works with many insurers who offer environmental site pollution insurance. These policies are designed to respond to pollution and environmental damage arising from the insured’s properties and associated business activities. Read more about site pollution insurance here https://ow.ly/JZLq50QkRag
Environmental Site Pollution Insurance Quote | ALIGNED
https://www.alignedinsurance.com
To view or add a comment, sign in
-
ALIGNED Insurance works with many insurers who offer environmental site pollution insurance. These policies are designed to respond to pollution and environmental damage arising from the insured’s properties and associated business activities. Read more about site pollution insurance here https://ow.ly/bIPR50QkRyT
Environmental Site Pollution Insurance Quote | ALIGNED
https://www.alignedinsurance.com
To view or add a comment, sign in
-
ALIGNED Insurance works with many insurers who offer environmental site pollution insurance. These policies are designed to respond to pollution and environmental damage arising from the insured’s properties and associated business activities. Read more about site pollution insurance here https://ow.ly/OrMe50QkRQ3
Environmental Site Pollution Insurance Quote | ALIGNED
https://www.alignedinsurance.com
To view or add a comment, sign in
-
President at Crawford & Company (Canada) Inc. | Senior Insurance Executive and Board Member | Innovation Enthusiast
This recent article in Insurance Business talks about what's influencing environmental #insurance. Factors like regulatory changes and growing awareness of environmental risks are driving increased demand for specialized #coverage. As industries become more environmentally conscious and regulations tighten, businesses are looking for better insurance to cover things like pollution problems and environmental damage. This details just how important it is to stay ahead of the curve in understanding and addressing your risk. #Innovation and #collaboration are essential. Insurers, brokers, and risk managers must work together to develop solutions that meet the unique needs of clients across various industries. #Environment #ClimateChange #InsuranceIndustry
Key drivers shaping environmental insurance
insurancebusinessmag.com
To view or add a comment, sign in
-
Environmental liability is about more than just hazardous waste removal. It covers all sorts of pollutants that environmental contractors deal with on a daily basis.
Environmental liability: More than just hazardous waste
https://csunderwriters.com
To view or add a comment, sign in
More from this author
-
Inszone Insurance Services Acquires Welcome Insurance Agency: Expanding Client-Centric Coverage
Inszone Insurance Services 1mo -
Inszone Insurance Services Strengthens Presence in Coachella Valley with Acquisition of John Henry Insurance
Inszone Insurance Services 1mo -
Inszone Insurance Services Strengthens Commitment to Client-Centric Approach with Acquisition of T Blackwell Insurance Group
Inszone Insurance Services 2mo