Environmental Accountability Bill Requested by Ore. A.G. Rosenblum Passes Legislature - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 29, 2021 Newswires
Share
Share
Post
Email

Environmental Accountability Bill Requested by Ore. A.G. Rosenblum Passes Legislature

Targeted News Service (Press Releases)

SALEM, Oregon, May 29 -- Oregon Attorney General Ellen Rosenblum issued the following news release on May 28, 2021:

Oregon Attorney General Ellen Rosenblum today thanked the Oregon legislature for passing "The Environmental Accountability Act" (HB 2377), which holds parties accountable for environmental contamination at massive clean-up sites -- like the Portland Harbor Superfund Site -- even if those companies have dissolved and are no longer in business. The bill makes it possible for the state to access insurance assets for businesses that polluted but are no longer operational.

HB 2377 was introduced in the Oregon legislature at the request of Attorney General Rosenblum and had the support from environmental advocacy organizations, local governments, and stakeholders.

"Complex environmental litigation, like the Portland Harbor Superfund, can drag on for many years. Before HB 2377, the state could not hold some of the original polluters accountable because we could not access their insurance assets, even if these companies had paid for insurance that covered environmental contamination," said Attorney General Rosenblum.

Companies that caused pollution in Oregon many years ago purchased insurance coverage for environmental contamination, but the state may be unable to reach those insurance assets because of a technicality in Oregon law. The technicality relates to the way in which a defunct company dissolved, and whether they filed appropriate paperwork to do so. HB 2377 closes this loophole, ending the potential of an unearned windfall to insurers -- and reducing substantially the cleanup costs to Oregonians.

According to the Environmental Protection Agency (EPA), the Portland Harbor Superfund Site, located along a section of the lower Willamette River, is contaminated from decades of industrial use. Water and sediment at the Portland Harbor Site are tainted with many hazardous substances, including polychlorinated biphenyls (PCBs), polycyclic aromatic hydrocarbons (PAHs), dioxins/furans, pesticides and heavy metals -- all of which have all been found to be harmful to people and the environment.

"This is a simple fix with potentially huge rewards to the taxpayers. I want to especially thank Senator Frederick, Speaker Kotek, and Representatives Sanchez, Holvey and Witt for championing this important legislation," said AG Rosenblum.

Older

Judicial Council of California Issues Opinion in Kenneth S. Bradley Vs. CVS Pharmacy Case

Newer

Ky. Gov. Beshear: FEMA Approves Additional Assistance for 22 More Counties Affected by Historic Flooding

Advisor News

  • NY insurance agent and Ponzi schemer faces 4-12 years in prison
  • Economic pressure makes boomerang living a new normal
  • Millennials ready to bring their advisor to the family table
  • The gap between policy awareness and investor conversations
  • Younger investors turn to ‘finfluencers’
More Advisor News

Annuity News

  • A new opportunity for advisors: Younger indexed annuity buyers
  • Most employers support embedding guaranteed lifetime income options into DC Plans
  • InspereX Partners with AuguStar Retirement for Strategic Expansion into Annuity Market
  • FACC and DOL enter stipulation to dismiss 2020 guidance lawsuit
  • Zinnia’s Zahara policy admin system adds FIA chassis to product library
More Annuity News

Health/Employee Benefits News

  • What’s behind skyrocketing hospital prices
  • Myers & Lynch Insurance, in new location but still offers best coverage for lowest price
  • Letter: Thank you Rep. Kauffmann for insurance reform bill
  • Thank you Rep. Kauffmann for insurance reform bill
  • Humana Reports First Quarter 2026 Financial Results; Affirms Full Year 2026 Adjusted Financial Guidance
More Health/Employee Benefits News

Life Insurance News

  • Are you truly independent? 5 questions to ask
  • NCOIL tackles packed agenda at spring meeting
  • Unum Group Reports First Quarter 2026 Results
  • Foresters Financial revamps accelerated underwriting, raises limits to $2M
  • National Life Group Appoints Matthew Frazee as Chief Financial Officer to Support Continued Organizational Growth
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Protectors Vegas Arrives Nov 9th - 11th
1,000+ attendees. 150+ speakers. Join the largest event in life & annuities this November.

A FIA Cap That Stays Locked
CapLock™ from Oceanview locks the cap at issue for 5 or 7 years. No resets. Just clarity.

Aim higher with Ascend annuities
Fixed, fixed-indexed, registered index-linked and advisory annuities to help you go above and beyond

Unlock the Future of Index-Linked Solutions
Join industry leaders shaping next-gen index strategies, distribution, and innovation.

Leveraging Underwriting Innovations
See how Pacific Life’s approach to life insurance underwriting can give you a competitive edge.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Press Releases

  • RFP #T01325
  • RFP #T01325
  • RFP #T01825
  • RFP #T01825
  • RFP #T01525
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet