Illegal Disposal of Waste
environmental Strategist®, between the lines: As we have reported in the past, illegal disposal of waste in the United States is some tens of billions of dollars a year industry. Besides the obvious environmental damage caused by illegal disposal of waste, it also poses a huge environmental exposure upon innocent third parties for bodily injury, property damage and business income.
Environmental liabilities also create huge reputational risk for guilty parties. In the case of Princess Cruises, this is not the first time they have been penalized for illegal disposal of waste. In today’s transparent society, I wonder how many people decided to take a cruise with a competitor of Princess Cruises because they do not want to support a company that puts profit before the safety of humans and our environment?
eS Risk Management Strategy: When a business tells you they do not have any environmental exposures, share with them how illegal disposal of waste in the United States is some tens of billions of dollars a year industry. Find out what their financial assurance strategy is- should they be negatively impacted by illegally disposed of waste? Depending upon the guilty party to correct the problem, is a wishful, not practical strategy. Pollution insurance can protect insureds, if they are impacted by illegally disposed of waste on their property or migrating onto their property.
Princess Cruise Lines to Pay $40 Million for Illegal Dumping: Princess Cruise Lines to pay $40 million fine for illegal dumping
O’Reilly Auto Parts to pay $9.86 million settlement for mishandling hazardous waste: http://www.fresnobee.com/news/local/crime/article118773768.html
