Environmental

Great Lakes Oil Spill Shows Need for Environmental and P&I Coverage

The U.S. Coast Guard and other authorities have completed one phase of an investigation into severed underwater cables that leaked about 600 gallons of mineral oil insulation fluid in the Straits of Mackinac. Officials suspect a boat anchor strike on April 1 damaged the cables and dented oil pipelines in the waterway that connects Lake…

A Proactive Approach to Contractors Pollution Liability Insurance

Contractors Pollution Liability Insurance comprises approximately 20-25 percent of environmental insurance purchased worldwide1. However, market penetration of those who need environmental insurance is only around 10 percent2, leaving 90 percent uninsured. Gina Jones, Vice President and Director, Environmental Programs, Burns & Wilcox, discusses the low level of penetration, saying “More than a billion dollars in…

A Deeper Understanding of Environmental Storage Tanks

Insurance Market Source regularly taps into its network of experts for insight into key trends across the insurance landscape. Kim McGinty, Underwriting Manager, Environmental Center of Excellence, Burns & Wilcox, shares her thoughts on the intricacies and benefits of Environmental Storage Tank Liability insurance.   Q: What does Storage Tank Liability insurance cover? A: Storage Tank…

Why All Businesses Need Environmental Site Pollution Liability Insurance

For years, the world-renowned Ivy League school, Dartmouth College, disposed of science experiments on a farm site located on their property, which included animal carcasses and the remains of human cadavers. Nearly 30 years later, the College was tasked with cleaning up 40 tons of waste on the toxic farm site, finding hazardous and radioactive…

Navigating Oil and Gas Insurance Policies for Service Providers and Contractors

The oil and natural gas industry represents 65 percent of energy consumption, supporting 9.8 million jobs.1 While the employment stats are staggering, not all of those employees physically work with oil and gas. “In looking at potential clients in the oil and gas sector, service companies that support the industry giants are the place for…

Don’t Think Your Clients Have an Environmental Exposure? Think Again

Did you know that approximately 90 percent of all environmental losses are uninsured? That results in about $1 billion in losses across the industry. “The most common misconception is that a majority of contractors don’t think they need environmental coverage,” said Gina Jones, Associate Vice President, Environmental Programs, Burns & Wilcox. “Absence of loss does…

Look Out Below: Underground storage tanks present opportunities for brokers and agents

Look Out Below: Underground storage tanks present opportunities for brokers and agents

Not all time bombs tick. In the case of underground storage tanks, they corrode. As a result of corrosion, improper installation and piping failures, tanks storing fuels and other hazardous substances can leak dangerous chemicals, resulting in contaminated soil and polluted groundwater. With many tanks being installed prior to stricter EPA regulations, the market is ripe with…

Contractor Pollution Liability

Insurance Market Source regularly taps into its network of experts for insight into key trends and developments across the insurance landscape. Gina Jones, Associate Vice President and Director, Environmental Center of Excellence, Burns & Wilcox, breaks down the ins and outs of Contractor Pollution Liability insurance.   Q: What do Contractor Pollution Liability policies cover? A:…

3 Best Practices When Working with Cross-Border Clients

Managing Cross-Border Pollution Risk Several high-profile incidents over the last few years have kept the spotlight on how businesses are (or aren’t) managing their environmental risks. With continued public pressure on politicians and regulators to hold industry professionals accountable for their actions, the growth of environmental insurance is expected to continue and the number of…

Environmental Coverage