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Can insurance be used as a means to obtain compliance with environmental policy? Answering this question requires examination of a broad mosaic of academic issues, including current systems available for providing compensation and deterrence, use of contracts (including insurance) as substitutes for tort law, limitations of regulatory policy-making by government agencies, pre-conditions for creation of insurance products, and market mechanisms necessary for insurance to be purchased or sold. The purpose of Managing Environmental Risk Through Insurance is to highlight the potential role that insurance and performance standards can play in managing environmental risk. Insurance can play a significant role in dealing with one of the most problematic issues facing society today - how to compensate for environmental exposures.
This book analyzes the ability of insurance to play a role in managing environmental risk. It begins by outlining the role insurance plays in society in contrast to other societal tools for addressing risk: government benefit programs and imposition of involuntary liability using the court system. By so doing, the book describes the comparative advantages of insurance. The book then analyzes the insurability of the risks. Finally, the book applies the insurability analysis to three concrete environmental examples.
Sommario
I Managing Societal Risks.- Introduction: Overview of the Problem.- 1 Managing Risk through Government Benefit Programs.- 2 Managing Risk through the Legal System.- 3 Managing Risk through Insurance.- II Managing Environmental Risks.- Introduction: Insuring Environmental Risks.- 4 The Insurability and Marketability of Risk.- 5 Insuring Asbestos Risk: Background and Identification of Risk.- 6 Insuring Asbestos Risk: Insurability and Marketability Conditions.- 7 Insuring Other Types of Environmental Risk.- 8 Summary and Conclusions.
Riassunto
Highlights the role that insurance and performance standards can play in managing environmental risk. This book analyzes the ability of insurance to play a role in managing environmental risk. It outlines the role insurance plays in society and analyzes the insurability of the risks.
Relazione
`...this is an extremely timely book whose message deserves serious attention by policy makers and politicians.'
Journal of Environmental Planning and Management, 41:5 (1998)
