ASSURPOL (Pollution Risks Insurance Pool) is a reinsurance pool founded in 1989.
The main purpose of this pool is to co-reinsure environmental impairment risks.
In 2016, 42 French and foreign insurance and reinsurance companies are members of ASSURPOL.
ASSURPOL has two statutory bodies :
- the General Assembly which decides on the Pool's basic interests,
- the Board comprising 11 directors appointed by the General Assembly. The Board manages the Pool and makes sure that the co-reinsurance agreement is properly implemented.
The Board is assisted by:
- a Technical Committee whose main duty is to define the risks Assurpol can cover. This Committee can delegate studies to two sub-committees respectively specialized in engineering and legal matters,
- a Financial Committee in charge of the investment policy.
The Pool has 14 employees. Accounting and human resources management are sub-contracted to a specialized pool (named GSA+) shared with other co-reinsurance pools (ASSURATOME, AMS Re ...).
In 2016, the Co-reinsurance Agreement offers member companies a capacity of €75 million.
The environmental impairment risks covered by the pool are threefold :
- Civil liability incurred by :
- onshore facilities including facilities classified for the purpose of environmental protection under the French Environmental Code (i.e. facilities identified as particularly risky)
- local authorities operating similar facilities
- service providers
- Environmental liability with regard to the prevention and remediation of environmental damage (according to Directive “ELD” 2004/35/EC)
- Financial losses: expenses incurred to reduce or prevent damage/injury to third parties, clean-up costs incurred on the insured's site, business interruption.
ASSURPOL can cover risks through facultatives and treaties. In both cases, the ceding company retains part of the risk.