Many businesses saw no reason to even need environmental insurance because they saw little or no environmental exposures in their businesses. Some spent a lot of years and money trying to get their insurance firms to pay out on an environmental claim. Some companies won. Things have changed considerably. First of all, coverages are more comprehensive.
Businesses can also enhance their policies to cover underground storage tanks.
Other environmental insurance products available today may include business interruption, professional liability, errors and omission, protection for subcontracted activities, and more. Many businesses have shrugged off their previous defiance, identified their possible environmental exposures and actively sought ways to manage them. Hazardous materials are not handled or disposed of in the manners they were just a few decades ago. Employees are appropriately trained and supplied with protection equipment. With more companies taking steps to minimize or control their environmental exposures, an insurance firm takes on less risk when it issues an insurance policy.