Tort and Insurance Law, vol. 5Michael Faure (ed.)
Deterrence, Insurability and Compensation in Environmental Liability Future Developments in the European Union

Tort and Insurance Law, vol. 5

originally published with Springer (Vienna/New York); now available at Verlag Österreich (Vienna)
approx. 475 p. ISBN 978-3-211-83863-1

Language: English

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The authors took the European Commission 2000 White Paper on Environmental Liability as the occasion for a critical analysis of the efficiency and insurability of various envirnmental liablity regimes.
Traditional insurance is examined, but also alternative arrangements for financial security, such as compensation funds. In addition, various case studies present the availability of financial or insurance coverage for natural resource damage. Combining economic insights with an analysis of the practice in various countries like Austria, Germany, Italy, Spain and the USA empirical evidence is provided for the way in which insurance and financial markets respond to environmental liability regulations. This ist the first study discussing the criteria for insurability of environmental harm in a systematic manner, both from a legal and an economic/insurance perspective.


Principles of Liability: A Theoretical Framework
Possible Defenses
Main Principles in a Few Legal Systems
Insurability of Environmental Harm
Compulsory Insurance? Financial Limits on Liability?
Interdependencies between Liability and Insurance Alternatives to Liability Insurance
Summary and Policy Recommendations
A market based analysis of financial insurance issues associated with US natural ressource damage liability
A market based analysis of the financial assurance issues of environmental liability taking special account of Germany, Austria, Italy and Spain
Concluding Remarks