|Risk Management, Insurance and Claims
Countries toughen laws through polluter-pays principle, expert says
Pollution insurers have tapped a relatively small amount of the market in regions including the U.S., China and Europe, but that likely will change as regulatory crackdowns demonstrate the high cost that can arise from pollution claims, industry experts say. As countries seek to become greener, "laws start with the polluter-pays principle," said Veronica Benzinger of Aon Risk Solutions' Environmental Services Group. Global Finance magazine
Study: Black carbon is among strongest atmospheric pollutants
Black carbon, which results from the use of brick kilns, diesel engines and wood-fired stoves, is the second-most powerful climate pollutant, behind carbon dioxide, according to a study. "This new research provides further compelling evidence to act on short-lived climate pollutants, including black carbon," Achim Steiner of the U.N. Environment Program said in a statement. Yahoo/Reuters
New EPA guidance addresses gap in CERCLA liability protections
M. Claire Juliana, J.D., director of environmental claims for Aon Risk Solutions' Environmental Practice, summarizes the most recent guidance issued by the Environmental Protection Agency for the treatment of tenants under the Bona Fide Prospective Purchaser provision of the Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA. The new guidance provides expanded enforcement discretion to a tenant of a contaminated site. Read more.
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