American Chemistry Council and Marsh Introduce Responsible Care® Insurance Negotiating Guide for ACC Members
Published on: 24-May- 2012 | Comments: 0
While chemical companies have invested considerable resources in risk management, they are not always able to effectively convey successful risk mitigation efforts to insurance underwriters. To help chemical companies to demonstrate to carriers how they better identify, manage, and mitigate the unique risks they face, the American Chemistry Council (ACC) and Marsh have collaborated to develop new guidance to help companies in their negotiations with insurance providers.
Available to ACC member companies, the Responsible Care® Insurance Negotiating Guide provides direction to risk managers and financial executives to help them better communicate with underwriters about their company’s approach to risk management and their environmental, health, safety, and security (EHS&S) efforts. Better communication of risk reduction efforts can help chemical risk managers differentiate their organizations from their peers, and potentially position them to secure more favorable insurance rates and coverage terms.
The guide outlines the main features of Responsible Care and includes a checklist of key questions and considerations for risk managers to review internally prior to meeting with underwriters. The guide also includes information on how to best position key performance indicators measured through Responsible Care, such as workplace injury rates and the number of days that employees spend away from work.
The guide is part of ACC’s ongoing efforts to help member companies maximize the value of the Responsible Care program, participation in which is mandatory for association members. Launched in the United States in 1988, the Responsible Care program is based upon a series of guiding principles through which participating companies can actively identify, manage, and mitigate EHS&S risks. ACC companies have reduced process safety incidents by 48 percent over the past 16 years, and reduced hazardous releases to the air, land, and water by more than 75 percent since 1988.
For more information and to obtain a copy of the guide, contact:
U.S. Leader, Chemical Industry Practice
+1 215 246 1219
David P. Gleason
Senior Director, Responsible Care
American Chemistry Council
+1 336 851 0675
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