Minimizing Tort and Risk Liabilities

Minimizing Tort and Risk Liabilities

  • Submitted By: marcy
  • Date Submitted: 02/14/2009 6:35 AM
  • Category: Business
  • Words: 1572
  • Page: 7
  • Views: 1024


Recognizing and Minimizing Tort and Regulatory Risk for MYBJC Inc.
Marcy Wear

University of Phoenix-Online

Recognizing and Minimizing Tort and Regulatory Risk for MYBJC Inc.

MYBJC Inc. is a chemical manufacturing company located at the Port of

Houston located in Houston Texas. An essential aspect of recognition and minimization of tort

and regulatory risk for MYBJC Inc. is the development and implementation of a Risk

Management Plan. The plan is designed to provide prevention of accidental release of any

substance that can cause serious harm to the public and the environment with appropriate

mitigation strategies. The Clean Air Act necessitates the Environmental Protection Agency

(EPA) to require companies that has the potential for release of hazardous chemicals into the air

to reduce the impact on the environment and public as designated in Part 68 of that rule

(U.S. Environmental Protection Agency, 2004). The plan outlines MYBJC Inc.’s effort to be a

responsible community business partner and meet the regulatory compliance standards

 Regulatory Compliance Acts and Common Torts
Given the nature of company business the risk plan is required to cover compliance with multiple regulatory guidelines. Serious allegations associated with company processes are to be handled quickly and precisely depending on the severity of the claim. Jennings (2006) stated, “Torts are civil wrongs that provide a remedy for these victims.” The EPA issues effluent guidelines for categories of existing sources and new sources under Title III of the Clean Water Act as standards for wastewater discharges to surface waters and publicly owned treatment works. The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), commonly known as Superfund, which was enacted by Congress also has an impact on business processes (U.S. Environmental Protection Agency,...

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