Environmental Risk Management & Insurance Hot Topics

What is a Pollutant: A material, substance or product that gets introduced into an environment for other than its intended use or purpose. Fresh Water / Cheese / Milk

Sustainability begins with Risk Management: FOB point of shipment / delivery

Repair, Renovation & Painting (RRP): For contractors and property owners, housing, schools, structures built before 1978. Children 6 years or younger (two day a week, three hours at a time). Fines up to $32,500 per day / per violation. Make impacted property owners aware so they only hire RRP licensed contractors.

Vapor Intrusion (ASTM 2600): Third party/s causing environmental contamination on your property. Phase I; Minimum 2 mile radius. http://www.epa-echo.gov/echo/ (fines / penalties / cleanup….) EnviroMapper http://www.epa.gov/emefdata/em4ef.home (information about environmental activities that may affect air, water, and land anywhere in the United States)

Storm Water Runoff: Home Depot / Wal-Mart

Illicit Abandonment

Vandalism

Language Barrier: Tyson Foods

Software Malfunction: Princess Cruise Lines

Brownfields: http://iaspub.epa.gov/apex/cimc/f?p=255:63:2457115725949134 (cleanups). EPA Brownfields Road Map: www.brownfieldstsc.org/roadmap.

Mergers & Acquisitions (Washington State Law, SB 6749, environmental disclosure) / Deed Restrictions / Title Insurance

Products pollution coverage

Three benefits of Environmental Liability Insurance

  1. Defense Coverage
  2. Specialists to assist in handling the claim
  3. Third party bodily injury / property damage / business interruption

Once the insured is educated they can make an informed decision which comes down to: They can transfer their risk for tenths of a cent on the dollar or wait until an environmental loss occurs and spend 100 cents on the dollar out of their own pocket.

After they pay for their loss, if they are still in business they can come back to you and buy a pollution policy.

Environmental Risk Assessments: http://www.epa.gov/enviro/ (Companies in your marketing area with known environmental exposure from operations to waste / toxics / water / radiation / air….)

Marketing tips

  • Prospect for new business 90 days after renewal
  • Inspect vendors of clients to generate new prospects
  • Do master policy for industrial park / association / Risk Retention Group / Captive
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