The UK is failing to implement the EU Environmental Liability Directive, say insurers
Spain, Germany and Italy are leading the way in the implementation of the EU Environmental Liability Directive and are consequently showing the most interest in purchasing environmental cover.
This is in contrast to the UK, where insurers report that operators have shown very little interest in the Directive. These findings were published in the latest Willis Environmental Index.
The Willis Environmental Index – a quarterly survey of London market environmental insurers division – asked participants for their views on how the environmental insurance market has responded to the challenges of the Environmental Liability Directive. It also gauged whether there is evidence of an increasing uptake in environmental insurance in readiness for the Directive.
The EU Environmental Liability Directive, which is based on the “polluter pays” principle, establishes a liability framework for the following categories of “environmental damage”: harm/damage to species and natural habitats, water pollution and land contamination.
Member States were given until 30 April 2007 to implement the Directive, although most have failed to meet this deadline.
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