A study contracted by the European Commission (DG Environment) Contract N° 070307/2007/485399/ETU/G.1

Introduction

Article 14(2) of the Environmental Liability Directive (ELD), 2004/35/EC, requires the European Commission to report by April 2010 on the effectiveness of the ELD in terms of actual remediation for environmental damage, on the availability of insurance products covering ELD requirements and their costs and conditions, as well as other types of security for the activities covered by Annex III of the Directive. With these objectives in the background, this study aims at presenting a state of the art of insurance and financial security of environmental liability under the ELD with an analysis of their gaps and limitations. Furthermore the study aims to analyse the Member States' response to financial security ELD requirements and to identify market-based instruments (MBI) that could serve as alternatives to insurance cover in the context of the ELD.

Stakeholder Workshop

A workshop was organised on June 27th, 2008 in Brussels to present key issues and interim results. Following documents are available for download from this workshop. The minutes will be made available soon.

1. Background document
2. Agenda
3. List of participants
4. Presentations
1. Welcome - Alexandra Vakrou (European Commission)
2. Introduction - Shailendra Mudgal (BIO Intelligence Service)
3. Background - Valerie Foglemen (Stevens & Bolton LLP)
4. Current status of ELD transposition in MS - Hans Lopatta (European Commission)
5. Presentations from the insurance industry
• What currently remains uninsurable and why - Bernard Tettamanti (Swiss Re)
• Market development expectations and opportunities - Juerg Busenhart (Swiss Re)
• The example of the US environmental insurance market - Jose Luis de Heras (Pool Español de Riesgos Medioambientales)
• First experiences with the German non-binding model - Anke Klein (GDV)
6. Presentations from operators' perspective - Elizabeth Jaskulké (Suez and MEDEF)
5. Minutes

Contacts

Please contact us for any further information related to this project.
European Commission - Hans Lopatta
BIO Intelligence Service - Shailendra Mudgal and Kurt Muehemel