Tag: Chemical Pollution

  • Michael Jordan Owned Golf Course Pollutes St. Lucie River in Violation of Florida Rule

    Besides the obvious reputational risk associated with environmental liabilities, the deeper story for your High Net Worth Insureds is making sure they have a financial assurance strategy in place to protect themselves from environmental liabilities created by the vendors they hire.

    A few years ago, both Home Depot and Wal-Mart paid multi-million dollar fines for storm water runoff from their construction sites. Home Depot and Wal-Mart do not own construction companies, so the liabilities came to them from the vendors they hired to perform the construction. This is the same scenario now impacting Michael Jordan.

    After paying their multi-million dollar fines, Home Depot and Wal-Mart implemented a financial assurance strategy were as contractors must evidence proof of Contractors Pollution Liability insurance in force before they can begin work for either company. Wal-Mart has since taken it one step further where contractors can’t bid jobs without first evidencing Contractors Pollution Liability insurance being in place.

    If Home Depot and Wal-Mart feel a need to have a financial assurance strategy in place to protect their assets from the vendors they hire, why should it be any different for your High Net Worth insureds.

    Environmental Risk Manager, Inc. (ERMI) pollution liability insurance program for your High Net Worth insureds can protect them from pollution liabilities like Michel Jordan is facing and considerably more.

    Attached is an environmental Risk Assessment (eRA) for High Net Worth insureds. The eRA is designed to get you and your High Net Worth Insureds on the same page about the environmental exposures impacting their resources. We send our eRA’s in a Word format, so you can cut and paste it into a marketing presentation that compliments your agencies marketing program.

    ERMI partner agencies find utilizing the eRA’s is an excellent way to leverage their insurance sales through educating the client about the fiscal realities of pollution protection. It genuinely does have a measurable impact to their strategic financial planning.

    The eRA comes in three parts:

    1. Review of environmental exposure impacting your insured.
    2. Environmental loss examples
    3. Environmental insurance coverage’s that are appropriate for the insured to consider.

    The goal is to educate your High Net Worth insured’s, so they can make an informed decision if investing in the ERMI High Net Worth Pollution Insurance product will add value in protecting their resources.

    If your High Net Worth insured sees value and elects to further pursue environmental insurance coverage, ERMI’s TEAM of environmental Strategist® are here to assist you.

    Insurance professionals not discussing pollution exposures with their High Net Worth insured’s, may find their E&O insurance is the only coverage their insured may have when they experience an environmental liability.

    https://www.tcpalm.com/story/news/local/indian-river-lagoon/health/2018/02/02/construction-michael-jordan-owned-golf-course-polluting-south-fork-st-lucie-river/301580002/

  • Families Sue Schools, State, Monsanto Over Chemical Pollution

    environmental Strategist, between the lines:  Educational institutions are one of the most at-risk businesses for environmental liabilities.  We know for a fact that our youth are some of the most susceptible to environmental exposures, as they’re still developing.

    I could strategize at length on the advantages for educational institutions to transfer their environmental liabilities to a third-party insurance carrier versus self-insuring.  When we work with Fortune 500 companies on transferring their environmental liabilities, first and foremost they want to buy coverage for bodily injury.

    Generally, however, “we do not have it in our budget” is often the response from an environmentally-uneducated insured.  The following question can be an effective way to counter that objection.   “When weighing the costs of obtaining this important coverage, it would be worthwhile to consider from what source would 100% of the funds come for legal fees, bodily injury to students or staff, clean-up costs, third party damages, third party business income, loss of state-matched funds during clean-up, etc. should an environmental loss occur?”

    Now that you have their attention, use the attached environmental Risk Assessment (eRA) for Educational Institutions to educate your insureds on the advantages of transferring their environmental liabilities to a responsible insurer.

    We’ve developed eRA’s for over 80+ classes of business to get you and your clients on the same page about the environmental exposures impacting their operations.  We send our eRA’s in a Word format, so you can cut and paste them into a marketing presentation that compliments your agencies marketing program.  Our partner agencies find utilizing the eRA’s is an excellent way to leverage their insurance sales through educating the client about the fiscal realities of pollution protection.  It genuinely does have a measurable impact to their bottom line and strategic financial planning.

    The eRA’s come in three parts:

    1. Review of environmental exposure impacting your insured.
    2. Environmental loss examples
    3. Environmental insurance coverages that are appropriate for the insured to consider.

    If your insured recognizes the value and elects to further pursue environmental insurance coverage, Environmental Risk Managers is here to make your job easier by utilizing our network and expertise to market your client’s submission and supply you with the best coverage options.

    https://www.edweek.org/ew/articles/2018/01/03/families-sue-school-state-monsanto-over_ap.html

  • Families Sue Schools, State, Monsanto Over Chemical Pollution

    environmental Strategist, between the lines:  Educational institutions are one of the most at-risk businesses for environmental liabilities.  We know for a fact that our youth are some of the most susceptible to environmental exposures, as they’re still developing.

    I could strategize at length on the advantages for educational institutions to transfer their environmental liabilities to a third-party insurance carrier versus self-insuring.  When we work with Fortune 500 companies on transferring their environmental liabilities, first and foremost they want to buy coverage for bodily injury.

    Generally, however, “we do not have it in our budget” is often the response from an environmentally-uneducated insured.  The following question can be an effective way to counter that objection.  “When weighing the costs of obtaining this important coverage, it would be worthwhile to consider from what source would 100% of the funds come for legal fees, bodily injury to students or staff, clean-up costs, third party damages, third party business income, loss of state-matched funds during clean-up, etc. should an environmental loss occur?”

    Now that you have their attention, use the attached environmental Risk Assessment (eRA) for Educational Institutions to educate your insureds on the advantages of transferring their environmental liabilities to a responsible insurer.

    We’ve developed eRA’s for over 80+ classes of business to get you and your clients on the same page about the environmental exposures impacting their operations.  We send our eRA’s in a Word format, so you can cut and paste them into a marketing presentation that compliments your agencies marketing program.  Our partner agencies find utilizing the eRA’s is an excellent way to leverage their insurance sales through educating the client about the fiscal realities of pollution protection.  It genuinely does have a measurable impact to their bottom line and strategic financial planning.

    The eRA’s come in three parts:

    1. Review of environmental exposure impacting your insured.
    2. Environmental loss examples
    3. Environmental insurance coverages that are appropriate for the insured to consider.

    If your insured recognizes the value and elects to further pursue environmental insurance coverage, Environmental Risk Managers is here to make your job easier by utilizing our network and expertise to market your client’s submission and supply you with the best coverage options.

    https://www.edweek.org/ew/articles/2018/01/03/families-sue-school-state-monsanto-over_ap.html