Merger and Acquisition
Environmental insurance can be a valuable tool in meeting certain indemnification requirements associated with mergers and acquisitions. This risk transfer tool can help the selling entity secure better pricing while eliminating or substantially reducing reserve contingencies. Buyers can take comfort knowing that environmental unknowns have been reduced, thus providing more confidence in merits of the deal.
Waste Management Risk
What does chemistry, biology, and thermodynamics have to do with insurance? Manufacturers need to be concerned about waste streams that may pose financial and regulatory risk. How would your insurance respond to the discovery that your materials or waste found a way into the drains and sewers? Is your insurance program designed to protect you from an accidental spill or release?
Understanding your business, including waste chemistry, is critical to designing an insurance program that protects your balance sheet from being impacted by a catastrophic environmental condition. While obvious environmental threats may be easily identified by less experienced agents, not so obvious risks can be overlooked leaving you and your company exposed to fines, damages, and reputational risk.
Knowledge, experience and an acute awareness of concerns identified through an environmental discovery process will help to minimize these threats.
Construction firms face unknown environmental conditions with each job. The economic losses and defense costs can be staggering and Commercial General Liability (CGL) policies exclude these exposures.
Contractors customarily refer to local utilities for disclosures. But what about underground storage tanks, piping, contaminated fill, buried materials such as drums, and other potential hazardous materials? Through no fault of the contractor, entanglement with regulators and increased site cost is a real possibility.
Increased awareness of this risk by owners, GC’s, and contractors make every contractor’s pollution liability (CPL) coverage a must.
The number one rule in real estate has not changed: location, location, location! But what do you do when that perfect location is laden with environmental history, potentially impacting the health and safety of a new and better use? The chemistry at every site is as different as the potential end use and regulatory risk challenging a successful project.
The known and unknown contamination creates financial risk that frightens developers, lenders and future end users. With an environmental indemnification that includes a properly designed environmental insurance policy, stakeholders can find the solution that best fits their deal.
Years of experience in crafting these solutions has earned the trust of underwriters in this specialized field of insurance, providing options for coverage terms and conditions that allow complex deals to become reality.