New Swiss Re publication: Insuring environmental damage in the European Union

23 May 2007, Europe & Middle East

Swiss Re published a study entitled Insuring environmental damage in the European Union. This publication gives an overview of the EU's new Environmental Liability Directive and the challenges it poses to insurers.

The new EU Environmental Liability Directive has been in force since 30 April 2007 and is based on unprecedented loss complexes which have no documented claims history. The Directive aims to make the polluter pay for remedying the damage. Insuring environmental damage in the European Union provides a basis for developing some insurance solutions to this problem.

Notes for editors

Swiss Re is the world's leading and most diversified global reinsurer. The company operates through offices in over 25 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company's traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated "AA-" by Standard, Poor's, "Aa2" by Moody's and "A+" by A.M. Best.