The following study has as main objective to analyze on one of the alternatives that Colombian law recognize an answer to confront the contamination pro- blem; the environmental insurance.

This insurance was implemented by Law 491 of 1999 as a mandatory require- ment for those activities which generate a potential environmental risk. Never- theless, some aspects regarding to the insurance structure and of legal and regulatory policy have brought as a result the absence of its real implementation.

The conclusion of the study is that, even tough aspects from regulatory policy are required; the environmental insurance is a useful alternative of prevention and reestablishment in case of environmental damage.