8 Environmental Coverage Mistakes—and How to Avoid Them

by David Dybdahl

The No. 1 coverage flaw for contamination risks is unnecessarily uninsured loss exposures. Second to that problem is the sale of environmental insurance policies that contain fundamental coverage defects. To fix these mistakes, insurance agents and brokers need to seek out specialists in environmental risk management and insurance.

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Environmental insurance can be a profitable line of business for insurance agents and brokers who take the time to bbecome functional in the coverage line.

But judging from the coverage defect rates in actual environmental insurance placements, insurance producers need to seek out qualified help to match the environmental coverage needs of their customer base with an environmental insurance policy fit for the purpose for which it is intended.

With more than 100 different environmental insurance policies to choose from, it’s certainly possible for agents and brokers to find a good insurance match for any type of insurance buyer.The No. 1 coverage flaw for contamination risks is unnecessarily uninsured loss exposures. Second to that problem is the sale of environmental insurance policies that contain fundamental coverage defects. This usually occurs when an agent sells an environmental insurance policy that was never designed for use in a specific class of business to an uninformed buyer in that class. As a result of these factors, the vast majority of commercial insurance buyers are needlessly and ignorantly uninsured for losses caused by some sort of contamination event.

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