Environmental Risk Managers Inc. and Knoxville, Tennessee-based captive manager CIC Services LLC have launched a program that uses internal insurance to help companies manage their environmental and pollution risks.
The EnviroCap program will enable companies to set up their own prison insurance companies tailored to their individual needs and risk profiles.
Environmental limits of up to $ 10 million are expected, depending on the industry class, says a spokeswoman for Fort Myers, Florida-based environmental risk managers via email. "We expect most policy limits to be $ 5 million, but this will also depend on the business class," the spokeswoman wrote.
"With pollution in the pollution market, critical coverage can be reduced or lost," said Tim Welles of CIC Services in a statement. "The advantage of EnviroCap and an internal insurance strategy is that it gives control to the owner for coverage, pricing and claims."