WHAT IS SEIP?
The use of technology to enhance the capability of it’s members is a cornerstone of SEIP. Through SEIP members can access powerful content that has been selected with the environmental insurance practitioner in mind.
SEIP is a 201.c.3 nonprofit association dedicated to helping its members utilize environmental insurance products to provide more valuable services to their customers. SEIP enhances the professional capabilities of its members through focused educational forums, technology enhanced knowledge management, and access to specialized multi-disciplined resources in fields related to environmental risk management.
SEIP hosts a number of forums that focus on environmental insurance and related topics. At these conferences attendees are presented with the educational tools to be more effective in the use of environmental insurance. Expert presenters address the environmental risk management and insurance needs of the customer and practical environmental insurance solutions that address those loss exposures. Emphasis is placed on innovative, state of the art solutions that the practitioner can efficiently implement.
These conferences feature presenters who are the top practitioners in the world. The conferences focus on the latest innovations in environmental insurance products, changes to environmental regulations, financial accounting standards, environmental claims, business solutions to environmental legacy costs, and state of the art uses of environmental insurance are all common topics at SEIP Forums.
JOIN US ON LINKEDIN
We encourage you to join the SEIP LinkedIn group. The message board is a forum for the diverse membership to exchange information and view points related to the environmental insurance industry.
WHY SEIP MATTERS
Insurance is the de facto risk governance mechanism in the economy. The insurance mechanism uniquely harnesses global knowledge of risk through the reinsurance market place and automatically incorporates the cost of insured risks into the price of goods and services in real time. Insurance has the inherent ability to reward safe behaviors and increase the costs associated with risky behavior.
Pollution exclusions have the effect of uncoupling the inherent advantage of the insurance mechanism for environmental damage claims. The result is the perpetuation needlessly risky behaviors and needlessly uninsured environmental losses.
After 30 years of continuous product availability and extremely cheap pricing, today only about 2 out of a 100 insurance buyers has the environmental insurance they need to fill coverage gaps created by pollution/fungus/mold/bacteria/category three water exclusion. This dismal market acceptance of the environmental insurance product line flies in the face of a 2,000% price reduction in 10 years for mold coverage on condos for example. Environmental insurance policies with loss ratios of 300%, passed up for purchase more than a decade ago, can form the foundation for denied insurance claims measured in the hundreds of millions of dollars today. The only explanation for the 2% market penetration in a product line with such low pricing is the absence of education venues in the subject matter.
SEIP was created to be the source of knowledge in environmental risk and insurance to facilitate informed decisions on environmental risk management.
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