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Climate change and the Covid-19 pandemic have been classified as systemic risks and have elaborated that such systemic risks will become the new normal. Ways to tackle the long-term effects of climate change include law and environmental policy. In addition, insurance can help mitigate the burden placed on governments when such systemic risks occur, including pandemics. In relation to the Covid-19 pandemic and the effects of long-Covid, sports and exercise are examined as a mitigating factor able to release pressure from public health and help mitigate its long-term effects. This article discusses the correlation of Covid-19 with environmental changes and climate changes and goes on to address the role of insurance, on the one hand and sports and exercise on the other hand as mitigating mechanisms to handle systemic risks such as climate change and pandemics. The article’s findings suggest and conclude that 1) outside state action (law and policy), private action such as change in lifestyle towards a more sustainable way of life, and sports and exercise can help with the long-term effects of pandemics and 2) insurance can act as a mitigating private sector mechanism. Governments should integrate law, policy, and mitigating techniques such as private insurance to tackle and respond to systemic risks. [ABSTRACT FROM AUTHOR]

Post the Deepwater Horizon (DWH) incident, offshore energy insurance underwriters reassessed their risk exposures in response to newly perceived operational risks involving blowouts, fires, explosions, lost control of well and other non-hurricane risks. Already in the aftermath of the DWH incident, it has been noted that it would be crucial to consider the willingness of the global offshore energy insurance market to participate in efforts to establish and fix a new liability limit for environmental pollution liability insurance. In relation to the approach followed by the USA administrations, this has been fragmented, with the current administration in office introducing a moratorium on new oil and gas leasing on federal lands and waters and in terms of its policy relating to its climate agenda. Against this background, this article describes the insurance implications of environmental pollution liability in case of offshore drilling operations incidents (such as the DWH) resulting in major oil spills. In doing so it discusses in detail the legal framework and the position in the EU and draws a comparison with other jurisdictions. It also contains proposals for future measures so as to be able to offer better insurance coverage for such offshore drilling disasters, such as the introduction and collection of data on damages, or an EU wide and an international agreement especially focusing on offshore-related incidents with a transboundary character, as well as a mechanism to facilitate early compensation payments to potentially vulnerable victims. [ABSTRACT FROM AUTHOR]

Carbon capture, use and storage (CCUS) has the potential to significantly reduce carbon emissions, however, because CCUS technology almost exclusively aims for carbon mitigation without co-benefits, this expensive technology has not been widely adopted. In order to make this technology viable, a robust regulatory and legal regime is required both internationally and within the European Union (EU). A comprehensive insurance system is also required to ensure that efficient running of CCUS. With this understanding in mind, this article analyses the regulatory regime governing CCUS both internationally and in the EU and also the law governing insurance of this technology. It argues that whilst European regulation has improved with respect to filling regulatory gaps, a number of gaps are identified which still need to be closed. In addition, the article will argue that special insurance coverage for specialized risks must be in place to diminish any environmental impact and hazard, including cyber-related risks that need to be identified and insured to be properly handled and adequately covered to allow for the successful deployment of CCUS. [ABSTRACT FROM AUTHOR]

Due to unprecedented fires and rise in temperature climate change is occurring rapidly, melting the Arctic ice and uncovering new areas for expropriation of natural resources. Such expropriation needs to occur in a sustainable way, respecting the environment and the indigenous people. To achieve this, all inherent risks arising from any environmental threat (oil spill/any type of environmental accident, cyber risks of any nature) to oil and gas installations need be identified and environmental liability and cyber-risks insurance coverage need be in place. This article discusses the way for such insurance coverage to be placed and worded. It argues that the traditional (marine and other) property insurance policies coverage and wording is inefficient, as it ends up being fragmented due to the numerous policy exclusions and limitations; it also puts forward an argument for the need to have specific wording and cover for specialized risks, in relation to the operation of oil and gas installations in the Arctic and cyber-risk threats, taking into account potential environmental impacts and hazards. This article also argues that for the time being, as businesses and governments including those of the EU and the Member States become increasingly reliant on technology, it is imperative that additional cyber-related risks are identified and minimized or transferred externally. Finally, it offers some suggestions about cybersecurity policies covering specialized risks. [ABSTRACT FROM AUTHOR]

Given the high pace of acceleration with which climate change is occurring, the unprecedented amount of floods and fires and the extremely high temperatures of the last years, new habitable and exploitable areas are bound to increase as a result of the extremely rapid ice melting in the Arctic. These areas will allow the exploration of natural resources and the use of new navigation routes in shipping. The Arctic region is rich in natural resources, but, at the same time, faces challenges due to its sparse population, limited logistical networks, and fragile environmental conditions; hence, any future sustainable growth and development in it should address the need to build sustainable infrastructure and explore and expropriate the natural resources sustainably, in an effort to achieve transformation towards an inclusive green economy that respects the indigenous peoples and their communities and lifestyle. This article not only synthesizes the existing literature on the topic of the impact of climate change on the Arctic, but also discusses and analyses the ways in which any exploration and exploitation of natural resources and any increased shipping activity in the Arctic should take place, in the light of the impact of climate change. By bringing together different literatures - on the Arctic exploration, legal regulation and Arctic shipping - not usually considered together, it analyses and discusses the multiple social and environmental effects of climate change in the region and its indigenous populations, and, finally, proposes policy options and legislative and other measures so as to best meet the various challenges imposed. [ABSTRACT FROM AUTHOR]

The financial impact of the April 20th, 2010 explosion and sinking of the "Deepwater Horizon" in the Gulf of Mexico is estimated to overall eclipse the financial impact of the Exxon Valdez oil spill in 1989. In spite of having managed to contain the "Deepwater Horizon" oil spill nevertheless, the environmental liability and other legal ramifications of the disaster continue to loom large. We examine the legal consequences that the environmental pollution owed to the explosion and sinking of the "Deepwater Horizon" bears and, in doing so, also draw conclusions and lessons to be learned. [ABSTRACT FROM AUTHOR]