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David Dybdahl, ARMR.net founder and president whose work includes insuring the containment operations of the Chernobyl nuclear disaster for the World Bank, said the need for environmental risk insurances, specifically on Wall Street, will only increase.
“The need for environmental insurance is coming from increasingly varied organizations,” said Dybdahl. “As pioneers of environmental insurance, we spent the first 25 years of our careers working on a handful of the most contaminated properties in the United States. The risks were high, and six- to seven-figure premiums were not uncommon. We would sometimes work for more than a year to place one policy. But today, along with those risks we sell with one-day turnaround a contractor’s pollution liability policy at a $2,500 premium covering the local plumber or HVAC contractor.”