Financial Services Industry
Industry: Email Alert RSS FeedGovernment regulations lead to new environmental policies.
National Underwriter Property & Casualty-Risk & Benefits Management, January, 1992 by Gilbert, Evelyn
Government Regulations Lead To New Environmental Policies The development of new environmental insurance products is being driven in large measure by new government regulations, according to industry experts. One product which has evolved as a direct result of federal Environmental Protection Agency regulations is coverage for underground storage tanks.
"The product complies with EPA mandates," said Thomas W. Egan, vice president of the Boca Raton, Fla.-based U.S. Risk of Florida Inc., a member company of U.S. Risk Insurance Group Inc., referring to his company's underground storage tank coverage. U.S. Risk's pollution liability program meets current EPA financial responsibility requirements, including on-site cleanup cost coverage, he noted. The...
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