This report focuses on the role of insurance and reinsurance companies in the management of environmental risks - environmental pollution risk and natural catastrophe risk in particular.

This is the only comprehensive text on the increasingly important subject of environmental risk and insurance. The author presents many risk and insurance issues from acid rain and global warming to toxic tort law developments and the crisis with workers' compensation insurance and pollution liability coverage. This volume is the product of nearly eight years of research, which included reviewing over 250,000 pages of laws, documents, reports, and notes, as well as countless hours of investigations, interviews, and research. Basic and advanced environmental liability and insurance principles are covered, along with suggestions for financing pollution cleanups and safety programs. A new method for restructuring and improving Superfund is presented after an in-depth discussion of pertinent legal and financial issues. The book also provides local, national, and international case histories demonstrating the kinds of difficulties encountered by businesses and citizens and the solutions they have sought. All of this information, combined with the valuable charts, appendices, specimens, contracts, sample insurance policies, model letters, and certificates, makes Environmental Risk and Insurance an unmatched reference source for businesses, institutions, and government agencies caught up in the midst of analyzing their environmental risk exposures.

Can insurance be used as a means to obtain compliance with environmental policy? Answering this question requires examination of a broad mosaic of academic issues, including current systems available for providing compensation and deterrence, use of contracts (including insurance) as substitutes for tort law, limitations of regulatory policy-making by government agencies, pre-conditions for creation of insurance products, and market mechanisms necessary for insurance to be purchased or sold. The purpose of Managing Environmental Risk Through Insurance is to highlight the potential role that insurance and performance standards can play in managing environmental risk. Insurance can play a significant role in dealing with one of the most problematic issues facing society today - how to compensate for environmental exposures. This book analyzes the ability of insurance to play a role in managing environmental risk. It begins by outlining the role insurance plays in society in contrast to other societal tools for addressing risk: government benefit programs and imposition of involuntary liability using the court system. By so doing, the book describes the comparative advantages of insurance. The book then analyzes the insurability of the risks. Finally, the book applies the insurability analysis to three concrete environmental examples.

This book identifies the role of insurance in a comprehensive system for managing environmental risks at the local, regional and global level. National and international legal instruments regulating environmental protection, especially aspects like pollution, are not precisely reflected in insurance concepts intended to cover environmental risks. As such, there is a need to identify environmental risks and to propose a taxonomy of environmental risks for various types of insurance coverage. The authors refer to the issues of liability in environmental protection, the scope of insurance coverage and comment on specific issues the importance of which has been noticed by the legislator or insurance practice. The book examines these issues horizontally and vertically from various standpoints, focusing on insurance as a means of managing environmental risks. In this regard, it mainly concentrates on (1) identifying and analyzing environmental risks and methods for managing them via private and public instruments, and (2) insuring these risks. The book is intended for all those interested in the field of insurance and environmental risk regimes, including lawyers, academics and legal professionals.

Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems is a collection of 13 chapters and studies about Insurance and Risk management in response to disruptions caused by social, economic, and environmental challenges to try and stabilize the economy in an effort to ensure sustainability.

An engaging and comprehensive look at the intersection of financial innovation and the environment This unique book provides readers with a comprehensive look at the new markets being created to help companies manage environmental risks, including weather derivatives, catastrophe bonds, and emission trading permits. Filled with real-world case studies and timely advice, Environmental Finance contains corporate strategies that financial service professionals as well as their clients must understand in order to proactively improve a company's environmental performance.

This is the first book to bring together comprehensive resources for understanding, eliminating and mitigating industrial risks, especially those associated with chemical production. A detailed understanding of risk analysis is essential in an era where governments and companies are increasingly aware of their health, safety and environmental responsibilities, yet resources are limited. This book covers all the fundamental concepts of risk analysis and ties them together with OSHA Process Safety Management and EPA Risk Management regulations. Using many examples and illustrations, it thoroughly reviews topics like: process descriptions, hazard identification, source models, fault tree analysis, consequence analysis, exposure assessment, and radiation risk assessment. There is also detailed coverage of the relationship between risk analysis and ISO 14000 standards. For: professional environmental safety, health and R&D professionals in government, communities, and chemical companies; or at storage and transportation facilities. Also for advanced students in risk analysis.

Environmental liability issues will dominate the insurance market as we move into the next century. As the problem of historic pollution moves into the forefront of public consciousness, the insurance industry will increasingly be targeted as the main contributor to clean-up costs and there are enormous liabilities stored up under old policies which underwriters and insurers will seek to avoid. Inevitably insurance cover under current policies will be restricted and new policies will emerge. This book looks at the old policies and their attached liabilities and at the new risk-transfer mechanisms available. It provides: a comprehensive analysis of the issues which the insurance industry had to address and those which it will have to address in the future; the legal stumbling blocks which plague the field of environmental insurance, such as triggerage issues, exclusion clauses, historic liability, policy limitations, criminal liability and defence costs, issues affecting underwriters, and at how companies should protect their insurance positions; how old insurance policies can be made to cover historic pollution liability and how to best manage existing environmental risk and the steps that companies should be taking now. This book is essential reading for all barristers, solicitors, insurers, reinsurers, local authorities, lawyers and planners, company directors, in-house offices, lawyers, developers and environmental consultants concerned with environmental liability.