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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

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Environmental Insurance Update

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  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

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