Environmental
Insurance & Risk Financing Solutions
Developing
and implementing an effective environmental risk financing program
requires the focused efforts of a multi-disciplinary team of professionals
with experience in the legal, engineering, financial, real estate
and insurance issues of a contaminated site. We work closely with
the client and its advisors and we are unencumbered by normal broker
conflicts and pressures.
RM
Solutions can directly access and place specialty insurance
and alternative risk financing programs to assist clients in developing
a financial guarantee and cost cap of their environmental liabilities
on an individual site or portfolio of sites. This would involve
the following:
-
Identify and evaluate all financial options for real estate transactions
- escrow funds required for retained risk; property sale including
transfer of liabilities to third party entities (brownfield property
developers/special purpose companies/remediation firms);
-
Define the insurance requirements and identify the prospective
markets - local & international;
-
Develop the technical underwriting information to obtain the most
competitive rates and coverage terms;
-
Place coverage directly into the insurance, reinsurance and alternative
risk transfer markets, locally and internationally. Arrange locally
admitted policies.
RM
Solutions also provides the following environmental risk
advisory services to clients and their advisors:
- Project
management of engineering issues and technical services to the
owner;
Co-ordinate with legal counsel and environmental consultants to
obtain regulatory approvals and permitting;
-
Co-ordinate with legal counsel and real estate advisors to define
sale/purchase agreements for real estate transactions;
-
Identify appropriate remediation projects in which a third party
Remediation
Firm will provide a guaranteed cost with profit sharing incentive.
- Document
environmental damages for claims recovery from historical liability
policies. (See Recovering Environmental Costs)
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