Source: Datamonitor InsuranceWire, April 6, 2011
Posted on: http://envfpn.advisen.com
According to Rich Corbett, President of XL Insurance’s North America Environmental operations, “In the US alone, an estimated 400 million electronic units are discarded each year, creating an ever-growing stream of e-waste. As many electronics contain lead, mercury, cadmium and other pollutants, it’s an environmental issue of growing concern, prompting many states to take action. Some 24 states have adopted e-waste legislation banning the disposal of such items in the waste stream.
“While these laws present business opportunities for recyclers, these businesses have to be prepared and properly protected to take advantage of them because in addition to toxic chemicals, discarded electronics may also contain individuals’ or business’ proprietary information that also has to be handled appropriately”
In addition to Pollution and Electronic Data Destruction protection, XL Insurance offers General Liability, Automobile, Workers Compensation, Umbrella and Property coverages to the recycling industry.