Pollution

Highway a Sweet Mess after 40,000 Pounds of Liquid Chocolate Spills from Tanker

Though the resulting aroma was sweet, the rollover accident that caused a tanker truck to spill 40,000 pounds of hot, liquid chocolate on an Arizona freeway was anything but. There were no injuries or other vehicles involved in the accident, but the insurance impact is likely significant. The accident appeared to have been caused by…

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…

Absolute and Strict Liability

The Buck Stops Where? The Risks of Absolute and Strict Liability

In December 2008, a Kawartha couple did what many Canadians do when winter approaches—they hired a company to refill the fuel oil tanks at their home in Kawartha Lakes, Ontario. After the tanks were refilled by a local fuel company, the couple eventually noticed that the oil was leaking from their basement and called their…

Clear and present danger

Environmental Coverage: Clear and Present Danger

Agents with a keen eye for exposures will find plenty of opportunity – and capacity – in the environment Less than 10 percent of environmental losses that businesses incur are insured. Yet by most accounts, the environmental marketplace is flush with capacity. So why the coverage gap? The simple explanation is that most businesses prefer…

Environmental Risk, Coverage, and Pollution Insurance

Q. What should brokers and agents know about environmental risk? Gina Jones, director of environmental programs, Burns & Wilcox responds: Nearly every client has an environmental risk and most insureds are unaware their environmental exposures may have no coverage. For example, a drilling contractor does not seem to present an environmental risk until it hits…

One Day and BP Contractor has coverage

One Day and BP Clean-Up Contractor has Coverage

Quick turn-around may be a watchword of some brokers, but doing the impossible and doing it in record time is quite another thing. In this case, Senior Underwriter Ivy Riggs, in the Environmental Center of Excellence at Burns & Wilcox, opened her email at 9:58 a.m. on a June morning to find an urgent request…

Who needs pollution coverage

Environmental Risk Management: Taking a Second Look at Who Needs Pollution Coverage

Retail agents face many challenges, but one of the greatest is to convince a company in a clean industry to buy pollution insurance. Most often, it’s not a required coverage and the companies wonder how they could incur pollution liability anyway? What to do? Just cite the milk company. When a milk truck jack-knifed on…