EPA Leaving Companies Open to Risk Over Contamination: Report

Dec. 22, 2017, 5:34 PMUpdated: Dec. 22, 2017, 8:05 PM

The EPA’s weak oversight of companies’ insurance against environmental disasters leaves companies open to billions of dollars in financial risk, the agency’s internal watchdog reported.

The Environmental Protection Agency accepts companies’ self insurance against environmental contamination, but the agency does not require full disclosure of possible risks and doesn’t have a data system capable of validating insurance for companies facing multiple liabilities, the Office of the Inspector General said in a Dec. 22 report.

When a company is unable to pay for cleanup, the costs may fall to the EPA, and the property could become a Superfund site. ...

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