Argo Group US — Argo Group — Ascend With Argo environmental insurance webinar (June 2021)
20 slides from Argo Group US's conference presentation, June 2021
Slide 1: Specializing in Environmental Insurance
SPECIALIZING IN ENVIRONMENTAL INSURANCE
Slide 2: Featured Speakers
David Corry Senior Vice President, Head of Argo Environmental [email protected] linkedin.com/in/david-corry-866178113/ FEATURED SPEAKERS Moderator: Dana DiLullo Assistant Vice President, Marketing & Distribution Manager, Argo Group [email protected] linkedin.com/in/dana-dilullo-
Slide 3: About Ascend With Argo
About Ascend With Argo Education. Insight. Connections. Training, support and mentorship for early- career insurance professionals: • Webinars • Shadow days with Argo employees • Exclusive events and conferences • A web-based training portal and content Learn more: www.argolimited.com/ascend-with-ar
Slide 4: Audience insights
Audience insights How would you describe your understanding of environmental insurance? A. Strong B. Somewhat familiar C. Minimal D. Something about saving trees? INTRODUCTION 4
Slide 5: Agenda
During this webinar, you’ll: • Hear the benefits of finding an area of specialty AGENDA • Learn the basics of environmental insurance • Discuss the history, scope and future of environmental coverage • Explore opportunities within environmental insurance • Be able to participate in a Q&A session INT
Slide 6: Benefits of Finding a Specialty
Benefits of Finding a Specialty
Slide 7: Benefits of finding a specialty
Benefits of finding a specialty • Brokers who specialize in a niche attain a higher degree of professionalism and greater rewards in their careers. • Specializing allows for greater product knowledge opportunity versus being a generalized insurance broker. • Opportunities are evergreen: As they aris
Slide 8: Basics of Environmental Insurance
Basics of Environmental Insurance
Slide 9: What is environmental insurance?
What is environmental insurance? Environmental consists of policies that are specifically written to insure the exposures of pollution. Policyholders want to cover: • Air, soil, groundwater contamination caused by owned facilities or adjacent properties • Unknown and undiscovered pollution condition
Slide 10: Types of environmental hazards
Types of environmental hazards Metals Solvents Caustics Acids Petroleum BASICS OF ENVIRONMENTAL INSURANCE 10
Slide 11: Who needs environmental insurance?
Who needs environmental insurance? • Manufacturers • Healthcare providers • Universities and colleges • Municipalities • Energy companies • Warehousing operations • Financial institutions • Real estate developers – residential and non-residential • Contractors – general, heavy and trade • Service pr
Slide 12: Results of a pollution incident
• Bodily injury and property damage claims • Cleanup costs Results of a • Business interruption expenses pollution incident • Natural resource damages • Fines and penalties for violations • Adverse public reaction BASICS OF ENVIRONMENTAL INSURANCE 12
Slide 13: History, Scope and Future of Environmental Insurance
History, Scope and Future of Environmental Insurance
Slide 14: History of environmental insurance
History of environmental insurance 1930s–1960s: 1970s: No exclusions in liability Post-WWII pollution claims increased as policies. Policyholders contaminants started to be discovered in: could submit claims, and carriers paid out with • Housing unlimited defense. • Consumer products • Metal product
Slide 15: Environmental insurance today
Environmental insurance today $3 billion industry in premiums • As younger generations move into industry, there is more awareness of green issues, which is changing the overall social viewpoint. • Environmental coverage adapts to the evolution of standards through changing legal (at the federal, st
Slide 16: Opportunities Within Environmental Insurance
Opportunities Within Environmental Insurance
Slide 17: Why environmental is a great choice
• There are very few brokers who specialize in environmental insurance. Why environmental • Can add value to clients by monitoring standards and mitigating exposures. is a great choice • Can develop specialty knowledge about environmental insurance’s importance to the retail market. BENEFITS OF FIND
Slide 18: One last piece of advice
Think like an underwriter; learn like a lawyer. One last piece • Read and understand the policy forms being sent into the marketplace. of advice • Learn about the agreements and the exclusions for pollution in order to identify and bridge the gap, helping transfer the risk. OPPORTUNITIES WITHIN ENVI
Slide 19: Q&A
Q&A What questions do you have?
Slide 20: Thank You
THANK YOU <7ARGO | ASCEND WITH ARGO ea Education. Insight. Connections.
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