Environmental Insurance Coverage – Past and Present

摘要

In the 1930’s and 1940’s the insurance industry developed a perfect product forrnthe risk-adverse business person – the Comprehensive General Liability (CGL) policy.rnThis product became the staple of almost every corporation’s insurance portfoliornthroughout the last century. As corporations faced the substantial costs for environmentalrnliabilities, most often as a legacy inherited from former industrial practices, they turned torntheir historical “comprehensive” liability carriers for help. As the high stakes battlernescalated between insurers and insurance companies, the insurance industry developedrncommon positions to defeat coverage. Although there was no single solution, thernpolicyholders developed their own successful course of action. Ironically, as the newrnmillenium begins, both policyholders and insurance carriers look to new insurancernproducts to facilitate resolution of old CGL coverage and offer new defined protection forrnthe future.