Hazardous waste insurance - The issue of financial responsibility

Journal Article · Tue Mar 01 04:00:00 EST 1983 · Natl. Pet. Refiners Assoc., (Tech. Pap.); (United States)

OSTI ID:5478220

Tobin, M L

The insurance industry is undoubtedly perceived by those outside it as monumentally conservative. Yet the industry fights hard to overcome its frequently undeserved reputation of limited imagination and failure to develop new insurance products for either the corporate or personal consumer. As new technologies bring social and economic changes in life styles, there is an ever challenging attempt by the insurance industry to keep pace with the increased amount of legislation containing financial responsibility regulations. Further, the liberal interpretations of laws and contracts by current courts contribute to additional uncertainty within the insurance underwriting community. Is the insurance industry to be criticized or applauded for its risk-taking in the 1980s. That question may not have an answer until the year 2000 and beyond. This paper examines one area in which the insurance industry has responded to a changing society in its need to share the financial burden for environmental pollution.

• Research Organization: Marsh and McLennan, Inc., New York, New York
• OSTI ID: 5478220
• Journal Information: Natl. Pet. Refiners Assoc., (Tech. Pap.); (United States), Journal Name: Natl. Pet. Refiners Assoc., (Tech. Pap.); (United States) Vol. AM-83-31; ISSN NPRPA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
530100* -- Environmental-Social Aspects of Energy Technologies-- Social & Economic Studies-- (-1989)
CHARGES
ENGINEERING
ENVIRONMENTAL ENGINEERING
FINANCING
HAZARDOUS MATERIALS
INSTITUTIONAL FACTORS
INSURANCE
LEGISLATION
MANAGEMENT
MATERIALS
REGULATIONS
RISK ASSESSMENT
SOCIO-ECONOMIC FACTORS
WASTE MANAGEMENT