1 / 10

Environmental Insurance Update

Environmental Insurance Update. Colorado Bar Association Environmental Law Section Topical CLE Luncheon Date: Tuesday, March 31, 2009 12:00 p.m. - 1:30 p.m. Speakers: Melanie Nesterenko of Rock Hill Underwriting Management www.rhkc.com

Download Presentation

Environmental Insurance Update

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Environmental Insurance Update • Colorado Bar Association • Environmental Law Section Topical CLE Luncheon • Date: Tuesday, March 31, 2009 12:00 p.m. - 1:30 p.m. • Speakers: Melanie Nesterenko of Rock Hill Underwriting Management www.rhkc.com • Michael E. Herrmann, P.G., Environmental Insurance Producer James C. Herrmann & Associates, Ltd. • Legacy Liability Solutions, LLC – Alternative Risk Management Strategies for Long Lived Environmental Exposures • Topic: "Environmental Insurance Update."

  2. Environmental Insurance Update Topics • AIG – State of Affairs (MEH) • Current Environmental Insurance Markets (MJN) • Trends in Coverage and Terms/Alternative Risk Management Tools (MEH)

  3. AIG – State of Affairs • Commercial Insurance Company Handout March 12, 2009 • Highlights of AIG Presentation: New name – AIU HoldingsFinancial overview and performance • What does this all mean to the insured? • Discussion/questions

  4. Current Environmental Insurance Markets • Many New “Markets” and Competition • Few companies for retroactive and long term risk, financial assurance guarantees, closure/post closure • Many markets for contractor pollution liability risk and annual/short term and lower risk site liability • Competition to distinguish on service, pricing, coverage - relationships

  5. Current Environmental Insurance Markets • AIG (AIU Holdings) – all lines • Chubb – all lines • ACE/ACE Westchester – all lines • Zurich – all lines • XL – all lines • Arch – all lines + lender liability policy • LIU – all lines

  6. Current Environmental Insurance Markets • Great American – all lines, no casualty –related products • Navigators – all lines • Ironshore – all lines • Rockhill/NECC – all lines • American Safety – all lines • Aspen – CPL, when GL is written with Aspen

  7. Current Markets Continued • Nautilus, all lines except PLL • Hudson – all lines • Everest – CPL • Endurance American (Freberg) – all lines • James River – all lines • RLI – all lines • Caitlin – professional/CPL only

  8. Current Markets Continued • Philadelphia Insurance – all lines • Argo Pro – all lines

  9. Trends and Alternative Risk Management Tools • Traditional Market Limitations: Coverage and Term • Alternative Risk Transfer (ART) emerging to address concerns posed by “difficult” and industry specific risks. • Captives and Risk Retention Groups to Access Reinsurance Markets • Advanced Risk Analysis, Loss Control and Prevention • Applying Enterprise Risk Management (ERM) Strategies • Closure/Post-Closure Markets • Annuities and Trusts to manage long term environmental exposures associated with Asset Retirement Obligation (ARO)

  10. Environmental Insurance Update • Questions & Discussion

More Related