Hazardous-waste insurance

Companies dealing in hazardous wastes are taking a new look at their present insurance coverage. A little-known requirement set forth in Environmental Protection Agency regulations and in Securities and Exchange Commission disclosure rules means that by April 1982 companies with annual sales of $10 million or more in hazardous wastes -- at any segment of the handling chain -- will be required to be covered for "nonsudden" pollution incidents.

Although the Department of Transportation already requires liability insurance for transportation of hazardous wastes, this "gradual impairment" type of insurance for manufacturers and handlers as a new concept is expected to originate numerous new-type insurance policies.

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