2011-09-15

By staff reporter

With environmental liability pressures set to continue, the UK’s reliance on traditional pollution cover afforded under third party general liability policies will not be sufficient, according to Duncan Spencer, former European environmental insurance underwriting manager at Liberty International Underwriters, and now one half of new independent environmental insurance broker, Edia Ltd.

While the number of insurers entering the European environmental insurance market has increased over the past 24 months, Spencer believes the number of EIL specialists in the UK broker market has actually decreased. Partner David Edwin, himself former senior vice-president for global environmental insurance placements at Marsh UK, believes the environmental insurance market will grow significantly over the next 10 years.

“Coverage is broader and premiums are at their lowest for 10 years,” says Edwin. Edia, he adds, can assist the broker market by providing tailored technical environmental insurance support and underwriting services.

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