No Small Task: Managing Unknown Risks in the Age of Nanotechnology
NIOSH Director and Nanosys CFO to Join Chubb Loss Control Specialist on RIMS Panel
WARREN, NJ, April 5, 2006 - Nanotechnology is being touted as the next industrial revolution, with research and commercial applications growing exponentially.
This promising new technology is already being used to produce sunscreens, cosmetics, bicycles and fabric treatments, and
the potential for applications in electronics, pharmaceuticals and energy is enormous. However, like other new technologies,
nanotechnology may create unforeseen health, safety and environmental risks.
Nanotechnology is a generic term for applications and products that contain particles smaller than 100 nanometers. A nanometer
is one-billionth of a meter. While the properties of materials of this size can be innovatively harnessed, businesses and
research institutions that utilize nanotechnology should manage potential exposures with a risk-management plan that considers
both manufacturing processes and how the technology is applied, said Louise Vallee, a vice president at Chubb & Son and research
and development specialist for Chubb Commercial Insurance.
"Nanotechnology is still largely in the research and development domain, but in the next five years it will be used in a wide
variety of commercial applications and will create tremendous opportunities for businesses," Vallee said. "As companies begin
to embrace this new technology, they need to be aware of the potential hazards and follow best practices to reduce potential
exposures."
Vallee will host a panel discussion on nanotechnology risk management on April 24 at the Risk & Insurance Management Society's
annual conference in Honolulu. Joining her on the panel will be Dr. John Howard, director of the National Institute for Occupational
Safety and Health (NIOSH), and Peter Garcia, chief financial officer of Nanosys, a leading nanotechnology company in the United
States.
NIOSH is working with other agencies, through the U.S. National Nanotechnology Initiative, to address potential health issues
associated with nanotechnology and is developing a strategic plan to address immediate and long-term issues associated with
nanotechnology and occupational health in partnership with other federal agencies, research centers and industry.
NIOSH is not alone in its efforts. In recent months, there have been increasing calls for new regulations for nanotechnology.
Earlier this year, the Project on Emerging Nanotechnologies at the Woodrow Wilson International Center for Scholars in Washington,
D.C., released a report that called for new laws to identify and protect the public from any risks that may arise from nanotechnology.
Even before the laws catch up with the new technology, businesses and research firms can begin making sure they do not expose
people or the environment to unnecessary risks. A nanotechnology risk management plan should consider the potential exposures
presented by these materials.
Businesses should be aware of the potential toxicities of the nanomaterials they use, how they are applied and any other known
hazards, Vallee said. The processes should be designed to reduce employee exposure to potentially toxic nanomaterials. Most
of these exposures can be mitigated with special clothing, containment rooms and equipment to prevent contamination.
"Nanotechnology has the potential to change the way we live in a very positive way," Vallee said. "But, the field is advancing
faster than the research and regulations, and the potential hazards are not fully known. Now is the time for businesses to
institute risk-management practices that will help reduce the effects of these potential exposures."
The member insurers of the Chubb Group of Insurance Companies form a multi-billion-dollar organization providing property
and casualty insurance for personal and commercial customers worldwide through 8,000 independent agents and brokers. Chubb's
global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia.
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