There is also the affect natural calamities have on business and how the world economy moves:

- The Norwegian Ash Cloud disrupted global air travel, bringing an entire industry to a virtual hault.
- Hurricane Katrina devastated an entire city costing thousands of lives and billions of dollars.
- 2004 Asian Tsunami (Hundreds of Thousands of lives lost and Billions spent on rebuilding)
- Haitian Earthquake


So where do we start?

Corporations needs to start by assessing the potential impact their operations have on the local environment and populace, and identify the potential risk exposures. Once identified, the first responsible initiative is to attempt to quantify the exposure, and seek a risk transfer solution such as insurance as part of the company’s wider ERM strategy.

Environmental and Pollution Liability covers are not new in the western world, and by carefully selecting the right underwriting partner, tailor made programs can be put together for your organizations needs. Government organizations are also getting involved with the insurance sector. Many regional ministries of environment are looking into compulsory insurance frameworks for excess environmental liability coverage. One company offering advice to corporate and government organizations or environmental risk management strategies is CIC Global Risks, a London based risk management specialist who also advises government organizations and NGO’s on environmental litigation and recovery issues.

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