Expert: Colo., Hawaii events show need for environmental insurance

10/8/2013 | PropertyCasualty360

Recent flooding in Colorado and the molasses spill in Hawaii demonstrate the need for a wide range of businesses to carry environmental insurance, said William McElroy of Liberty International Underwriters. Colorado firms will be responsible for environmental spills that migrated to their property as a result of the flooding even if they don't engage in an enterprise that poses pollution risks, McElroy said. As for the Hawaii disaster, even a natural substance can cause environmental damage to marine life, leaving the company vulnerable, he said.

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