Environmental Impairment Liability Insurance in China: Development, Risks and Countermeasures

Liu Miaomiao, Zhu Yuantian, Li Ruoqi, Dong Zhanfeng, Bi Jun

Chinese Journal of Environmental Management 2020,12(2):44-49

DOI：10.16868/j.cnki.1674-6252.2020.02.044

The environmental impairment liability insurance is subjected to the liability for the damage to the 3rd party caused by the environmental pollution accident of the enterprise. Based on a comprehensive review of the 30-year environmental impairment liability insurance development course in China, this paper identifies the major systemic risks faced by its practice in the new era from the perspective of legislation, model and technology. New challenges caused by the public health emergencies since the end of 2019 are taken into consideration as well. Furthermore, it proposes four targeted recommendations, including promoting the positive interaction between top-down legislation and bottom-up independent pilots, the flexible combination of basic compulsory insurance and additional commercial insurance, two-pronged strategy of historical data accumulation and technical standard improvement, and mutual assistance between normal insuring and special insuring under emergencies. The results here are of great significance to make up the ecological short boards and in the end win the tough battles of building a moderately prosperous society in all respects.