Tony Shelton
BS Detector, Esquire
Who has Environmental Impairment or Pollution Liability coverage and how much are you paying?
This is a catastrophe waiting to happen.
I just had a long conversation with my insurance agent. Here's what it boils down to:
1) Government agencies fined some large companies.
2) The companies had a hard time coming up with the ridiculous fines.
3) Opportunistic insurance companies realized they could make lots of money by making them pay in installment payments instead (premiums)
4) Fine payments now coming in to the Government agencies faster and in full because insurance is paying instead of the actual business.(at least that's the way they look at it)
5) Opportunistic Government agencies now see that as long as smaller businesses carry this insurance they can fine the smaller businesses on a regular basis too.
Just wait, it will be required in the next few years just like workers comp unless we get rid of the worthless legislators we have in office now.
This is a catastrophe waiting to happen.
I just had a long conversation with my insurance agent. Here's what it boils down to:
1) Government agencies fined some large companies.
2) The companies had a hard time coming up with the ridiculous fines.
3) Opportunistic insurance companies realized they could make lots of money by making them pay in installment payments instead (premiums)
4) Fine payments now coming in to the Government agencies faster and in full because insurance is paying instead of the actual business.(at least that's the way they look at it)
5) Opportunistic Government agencies now see that as long as smaller businesses carry this insurance they can fine the smaller businesses on a regular basis too.
Just wait, it will be required in the next few years just like workers comp unless we get rid of the worthless legislators we have in office now.