Critical Environmental Exposures Move Indoors, and 5 Other Risks to Watch
In 2018, many liability lines of insurance experienced increases in both claim frequency and severity. According to Jon Peeples, Vice President of Underwriting, Philadelphia Insurance, the environmental market was no different.
“Last year, the industry saw an uptick in claims related to several historic environmental risks, including mold and Legionella, as well as an increase in the value of those claims,” he said.
“In general, concern over indoor pollution issues like poor air quality and tainted drinking water are taking prevalence over concerns about outdoor pollution. That’s the biggest change I’ve seen reflected in loss trends over the past few years.”
In the year ahead, he expects that shift to remain a force determining environmental underwriters’ top exposures. Here are the top five environmental risks underwriters will be watching this year:
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