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4 / 1995 |
The deplorable results of providing coverage for losses arising out of “sudden and
accidental” pollution under General Liability policies in the United States are well
known. Yet most markets, with the exception of - in chronological order of the
introduction of a comprehensive pollution exclusion clause — Italy, USA,
Germany and France, either have no pollution exclusion at all or still offer “sudden
and accidental” pollution coverage under General Liability policies.
Perhaps those who support this practice believe that the problem plaguing U.S.
insurers could only happen under the “crazy American legal system”. But the
belief that this cannot happen “in our market” might turn out to be an expensive
error: both the insurance and reinsurance clauses aimed at excluding gradual
pollution actually achieve much less. So we are sitting on a timebomb.