Another way insurers are responding to the soft market is by introducing new products. Often such policies enforce the idea of a longer term relationship and more stability with one insurer over an extended period of time. Developed just about five years ago, the coverage often was quoted but not sold until the seriousness of the exposures of sexual harassment and discrimination hit home in the corporate executive board rooms. EPL products appear to be much in demand now. Prices have softened, coverage has been broadened and limits of liability have been increased.
Environmental coverages continue to be developed.
The market is open for environmental contractors, consultants, organizations which do remedial work, testing laboratories, transportation risks, manufacturers and businesses that work with pesticides, fertilizer and fungicides or herbicides. Coverages dealing with all types of miscellaneous professional liability insurance for businesses continue to proliferate. Any type of risk which has a real exposure of financial loss to customers can qualify under some professional liability programs set up by specialty insurers. We are just seeing the beginning of the use of the World Wide Web as a vehicle to promote the resources and products of insurers on home pages on the Internet. Some special risk and surplus lines insurers and managing underwriters have created home pages to guide their agents and customers to their products and underwriters.