Insurance Europe has responded to a consultation conducted by the European Commission on the review of the Environmental Liability Directive (ELD).
As providers of cover for environmental liability, insurers consider the ELD to be instrumental in preventing and remediating environmental damage. Insurance Europe, therefore, welcomes efforts to ensure the Directive is fit-for-purpose and, in particular, adequately implemented.
At the same time, it is important to ensure that any future changes to the framework do not undermine the availability of insurance or the development of the environmental liability insurance market.
The review should, therefore, focus on ensuring that effective measures are being taken throughout the EU to prevent and mitigate any potential environmental accidents. In particular, the whole body of European environmental law must be fully implemented at national level and provisions should be introduced for competent authorities to oversee and, if necessary, enforce compliance with environmental provisions.
Insurance Europe also published a set of key messages regarding the review of the ELD.