Premises Pollution Liability Coverage: Essential Protection for Operational Risks
Day-to-Day Environmental Risks a Growing Concern
Jack Frost, Steven Piatkowski and Robert Savill
March 2015
Environmental concerns form an integral part of daily life and business today. From households to multinational corporations, preserving nature and providing healthier spaces for living and working have become key societal goals. This evolution extends to the insurance marketplace where coverage has continued to adapt to reflect both the heightened environmental concerns and the changing nature of pollution risks. Increasingly, environmental policies seek to address exposures that may arise out of daily operations and not just those tied to transactions or historical uses of a property.
At the same time, casualty insurance markets continue to grow more cautious about pollution risks, even as countries around the world take a stricter stance toward protecting the environment. This means that traditional property and casualty policies may leave significant gaps in coverage. To deal with these new challenges, businesses and other organizations need to be aware of how the market has changed; how it affects their risk management strategies; and how they can protect themselves against a new and wider range of environmental exposures as well as changing regulatory requirements at home and abroad.