Flood Risk Management Plans

Consorseguros Digital Magazine goes green in this 10^th issue, of spring 2019, in order to approach, from multiple viewpoints, the matter of environmental liability and its insurability.

Competency for the enforcement of environmental liability legislation generally falls to the regional governments, without detriment to the areas of competency which are entrusted to the Central Government.

The definition of risk management keeps on growing and now we find ourselves faced with situations that seek to protect not only the profit and loss accounts of companies, but also other capital elements such as assets, which are the core of activities; employees, which are the key engine of the business...

Due to the inherent nature of their activities, oil companies are exposed to a whole raft of risks of the environmental kind that have to be managed effectively and properly. To do this, a preliminary effort must be made to identify these risks, which is what will enable preventive measures to be designed and implemented to avoid them from happening.

May saw the twenty-fifth anniversary of the signing of the deed of incorporation of the Pool Español de Riesgos Medioambientales (Spanish Environmental Risks Pool). Considering that now is a good time to offer a brief review about why this pool was organised, if it is meeting its commended tasks and, if these are proving useful for member companies of the Pool, for their customers and for the insurance industry in general.

The insurance option of environmental liability is perhaps the most practical and cheapest option when it comes to transferring/financing the environmental risk of companies in relation to any potential incident involving environmental pollution or damage.

Despite the above action taken, the Prestige spilled 63,000 tonnes of fuel into the sea, which affected 2,980 km of coastline. Although the spill was far smaller than in other previous accidents in Europe, the stretch of coastline hit was actually the largest to date.

Comment on the Judgment by the Court of Justice of the European Union of 1 June 2017, the Folk case.

This article analyses the legal framework for environmental liability, the financial guarantee and the Environmental Damage Compensation Fund based on the provisions in both European and Spanish legislation.