The report also provides a practical four-point checklist of questions to ask when establishing insurance and risk management programmes, as well as overviews of the latest regulatory changes across a number of leading regional markets.
Suresh Krishnan, Head of Global Accounts division, Chubb Europe said:
‘Environmental risk is one area which has grown exponentially as a result and it is increasingly important for businesses to understand the multitude of potential threats they now face. Building a multinational programme from the ground-up locally brings to the forefront the preventive aspects of risk management and is a vital perspective for a company looking to protect itself against environmental risks. The consequences of not being prepared locally can be severe and the impact of an environmental incident resonates on many levels.’
Neil Beresford, Partner, Clyde & Co, said:
‘There has been a significant tightening of environmental regulation around the world and this is now the biggest environmental risk faced by organisations. Not only that, but organisations operating globally are faced with an extremely wide range of regulations and enforcement regimes that add complexity to their risk management and mitigation processes.’
Note for Editors
A copy of the Global Management of Environmental Risk can be seen here
Chubb is the world”s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com/uk
About Clyde & Co
Clyde & Co is a leading, sector-focused global law firm with 400 partners, 2000 legal professionals and 3600 staff in over 50 offices and associated offices on six continents. Its core global sectors position it at the heart of global trade and commerce: insurance, trade & commodities, energy, transport and infrastructure. With a strong emerging markets focus, the firm has achieved compound average annual revenue growth of 12% over the last five years, making it one of the fastest growing law firms in the world with ambitious plans for further growth.
LONDON, June 18, 2018 /PRNewswire/ — Chubb today announced the launch of a special new environmental risks report – Global Management of Environmental Risk, created in collaboration with global law firm Clyde & Co. The report, which was previewed at last week”s Airmic Conference in Liverpool, explores the impact of environmental risk on multinational businesses. It is an updated version of a report that was first published in 2015 and focuses in particular on how recent increases in global legislation have become the biggest change to environmental risk in years. It reviews the different types of environmental risks facing a multinational corporation, and how traditional risk management techniques are leaving companies exposed to unnecessary risks – both financial and reputational.