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An Update on the State of the Environmental Insurance Market

Few would argue that environmental insurance has evolved to become a widely used and effective tool for managing risk and uncertainty related to the transfer, remediation and redevelopment of Brownfield projects. However, like the broader worldwide property and casualty insurance market, of which it is a small segment, environmental insurance — and the insurers offering it — has seen some significant changes in the last two to three years. Photo courtesy of www.linkedin.com The insurers that have been around since the beginning of the market for this coverage continue to serve the needs of the brownfields industry. The three industry leaders — AIG Environmental, XL Environmental, and Zurich North American — have not retracted from offering environmental insurance for brownfield projects. However, there are some changes afoot in the industry, brought about largely by developments in the worldwide reinsurance markets subsequent to the tragic attacks of September 11, 2001. The…Log In to Read Full Article

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