The Role of Environmental Liability Insurance in Contaminated Land Legislation of China: Theories and Case Study
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This chapter discusses the application of insurance as one of the common financial security tools for environmental risks arising from land contamination. After a discussion of the relationships between environmental risks and insurance, it provides a brief overview of the functions of environmental insurance and the features of insurance policies designed to cover contaminated land liabilities. It also reviews key policy issues in applying insurance to manage land contamination risks and outlines insurance policies as response to environmental liabilities arising from contaminated land in the US and UK. Moreover, the applicability of environmental insurance for contaminated land related risks in China is discussed. This chapter concludes with several suggestions for developing environmental insurance policy in China for contaminated land risks management.
KeywordsCoverage of insurance Environmental insurance policies Environmental liability insurance Environmental risk Insurability
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