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"Insurance coverage is not concerned with the known, but rather with the unknown." That observation was made by William Pritchard Jr, president of Beacon Hill Associates Inc, in a recent Rough Notes magazine interview. Pritchard was speaking specifically about environmental insurance, which not too long ago was thought to be needed only by industries where environmental exposures were obvious. Among both insurers and business owners, Pritchard observes, there seems to be a growing awareness of the need for insurance protection for such exposures. They're seeing a good many organizations not in the environmental mainstream buying coverage for environmental exposures, he says. Asked how the recession has affected the environmental insurance market, Pritchard says the market has not taken the hit that other insurance lines have. Actually, his writings are increasing as more companies are including environmental insurance in their contractual arrangements, he says.
ENVIRONMENTAL INSURANCE: EMERGING RISKS, NEW COVERAGES Phil Zinkewicz Rough Notes; Jan 2010; 153, 1; Docstoc pg. 60 Reproduced with permission of the copyri
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