In one aspect, a coating for protecting a component exposed to a corrosive environment includes an epoxy phenolic resin, a non-chromated corrosion inhibitor pigment additive and a dispersing agent. In another aspect, a method of protecting an article exposed to a corrosive environment includes applying a corrosion-resistant epoxy phenolic coating to a surface of the article exposed to a corrosive environment and curing the corrosion-resistant epoxy phenolic coating. The epoxy phenolic coating contains up to 15 percent by volume of a non-chromated corrosion inhibitor pigment additive having a particle size less than 10 micrometers.