The Climate Risk Disclosure Act of 2021 mandates public companies to disclose their climate-related risks and mitigation strategies. This increased transparency and disclosure requirement can profoundly impact the pollution liability insurance market, leading to better risk management, reduced losses, and new insurance products and services that help clients manage climate-related risks.
Tag: pollution liability
AXA XL’s Environmental Insurance Business Rolls Out Tailored Ecosystem in North America
To help clients adopt new technology solutions to manage business risks, AXA XL’s North America Environmental insurance business has rolled out a tailored Environmental Ecosystem. According to Mary Ann Susavidge, Chief Underwriting Officer, Environmental, “For the last 35 years, we’ve taken a holistic approach helping our clients manage environmental liabilities through risk transfer with pollution… Continue reading AXA XL’s Environmental Insurance Business Rolls Out Tailored Ecosystem in North America
AXA XL Helps North American Lenders with Environmental Concerns with PEACE Endorsement
The Americas Environmental insurance business of AXA XL has introduced the Protective Environmental Asset Coverage Enhancement (PEACE), an endorsement specifically designed to protect lenders’ financial interests against loan losses at fixed facilities caused by sudden and gradual pollution conditions. Anthony Gentile, Sr. Product Line Leader for AXA XL’s Americas Environmental insurance business, stated that “We… Continue reading AXA XL Helps North American Lenders with Environmental Concerns with PEACE Endorsement
Oil Spill Off Huntington Beach, CA Renews Decadeslong Move Away from Offshore Drilling
Offshore drilling in the Gulf of Mexico produces more crude oil in 2.8 days than the West Coast produces in an entire year. But a few decades ago, California’s coastline was humming with activity. In 1995, the West Coast produced 92 million barrels from California’s offshore reserves, according to estimates by the Energy Information Administration.… Continue reading Oil Spill Off Huntington Beach, CA Renews Decadeslong Move Away from Offshore Drilling
Notre Dame Fire Wakes the World Up to Dangers of Lead Dust
It took a blaze that nearly destroyed Paris’ most famous cathedral to reveal a gap in global safety regulations for lead, a toxic building material found across many historic cities. After the Notre Dame fire in April spewed dozens of tons of toxic lead-dust into the atmosphere in just a few hours, Paris authorities discovered… Continue reading Notre Dame Fire Wakes the World Up to Dangers of Lead Dust
EPA to Roll Back Obama-Era Regulations on Clean Water
President Donald Trump ’s administration is announcing plans to undo an Obama-era policy that expanded federal oversight of the country’s waterways, while leaving further changes to clean-water rules up to a later overhaul. The decision, expected to be announced by the Environmental Protection Agency Thursday afternoon, is the latest lurch toward new clean-water regulations after… Continue reading EPA to Roll Back Obama-Era Regulations on Clean Water
Chubb Introduces CoverPlus Featuring Expanded Liability Insurance Solutions for Middle Market Manufacturers
Chubb has introduced CoverPlus℠ – a new platform offering expanded liability-driven products tailored to the ever evolving risks faced by middle market manufacturers as they embrace new technologies and processes to remain competitive. CoverPlus℠ features a custom-tailored suite of coordinated insurance products designed to fill the potential gaps which are typically inherent in traditional insurance… Continue reading Chubb Introduces CoverPlus Featuring Expanded Liability Insurance Solutions for Middle Market Manufacturers
Ship Owners Worry About Clean Fuel Bill as Ports Ban ‘Scrubbers’
More ports around the world are banning ships from using a fuel cleaning system that pumps waste water into the sea, one of the cheapest options for meeting new environmental shipping rules. The growing number of destinations imposing stricter regulations than those set by the International Maritime Organization (IMO) are expected to be a costly… Continue reading Ship Owners Worry About Clean Fuel Bill as Ports Ban ‘Scrubbers’
Coal Ash Contaminates Groundwater Near Most U.S. Coal Plants: Study
More than 90 percent of U.S. coal-fired power plants that are required to monitor groundwater near their coal ash dumps show unsafe levels of toxic metals, according to a study released on Monday by environmental groups, which cited the potential harm to drinking water. The groups, led by the Environmental Integrity Project and Earthjustice, said… Continue reading Coal Ash Contaminates Groundwater Near Most U.S. Coal Plants: Study
EPA Will Study Limits on Cancer-Linked Chemicals
The Environmental Protection Agency on Thursday said it will start work by the end of the year on a long-awaited plan to set national drinking-water limits for two harmful chemicals linked to cancer, low infant birth weight and other health issues. But environmentalists and Democratic lawmakers criticized the plan, saying it in effect delayed desperately… Continue reading EPA Will Study Limits on Cancer-Linked Chemicals