The environmental insurance market remains stable, with moderate pricing increases reported for Pollution Legal Liability (PLL) and Contractor’s Pollution Liability (CPL) insurance, according to insights from Kate Dietrich at Lockton. While insurers are cautious in underwriting due to emerging hazards and increased litigation risks, such as lawsuits related to toxic chemicals like PFAS, the demand for environmental coverage is growing as companies recognize the necessity of risk management. The market remains competitive as companies are encouraged to consult experienced brokers to navigate complex insurance needs. Despite the benefits, only around 20% of companies currently hold environmental insurance, indicating potential for growth as awareness of environmental responsibilities increases.
