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Insurance Europe, the European reinsurance federation, has published a briefing note relating to environmental liability coverage across the European Union, based on a survey of its members. The survey revealed that the market is functioning well and that there is enough market capacity to expand the amount of environmental liability cover available to the market, should demand increase.

The briefing note also declared that an EU wide compulsory environmental liability insurance system would not benefit customers. Such a mandatory cover – currently being considered by the European Commission as part of the Environmental Liability Directive (“ELD”) – has the potential to stifle the current promising level of product innovation in member states, according to the briefing note.

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