InFocus: Environmental insurance

How to determine if an account is "environmental"

How to determine if an account is "environmental"

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One of the more difficult tasks for an insurance agent or broker is finding the right carrier partners to place coverage. One approach is to send an application to every carrier you know and see which is willing to give you a quote. A more efficient method is to do your research and outline which carriers accept the type of business you target and who provide the coverages you need.

When seeking General Liability, Contractors Pollution Liability and Professional Liability coverages, one typical question raised is “Is this account environmental?” Many environmental insurers have parameters as to what constitutes an environmental risk and what coverages they will consider offering based on those services. For the layperson, that can be confusing. One may recycle cans and plastic bottles, making them a good environmentalist, but not necessarily an environmental operation from an insurance perspective.  So how do carriers define “environmental” and what’s the difference between being an environmental operation and having a pollution exposure?

The word “environment” has many definitions that have little bearing on environmental insurance so it’s important to understand in the insurance industry, how we typically define environmental risks. Environmental underwriters are primarily concerned with factors of, relating to, or associated with the environment; relating to or being concerned with the ecological impact of altering the environment; and, relating to potentially harmful factors originating in the environment.

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For the past twenty-four years, Beacon Hill Associates, Inc. has been a leader in providing environmental liability insurance to agents around the country. Although we concentrate primarily on environmental business, we also work with agencies on other technically challenging specialty coverages. We take pride in offering our agents and brokers relevant coverage from quality carriers in a fast, efficient manner. For more information on Beacon Hill’s products, environmental insurance resources, and news, visit www.b-h-a.com./files/file/Client%20Fact%20Sheet_Beacon_Hill.pdf