 |
Environmental Risk Resources Association |
|
       |
||||
| Events | Articles | Industry Newsletters | Regulations | Links |
When to Report Environmental Liabilities to the SEC Amy Knight, Beyond Complaince, Spring 2002. EPA is not the only government agency concerned with your company’s environmental liability record. The Securities and Exchange Commission expects all publicly held companies to disclose environmental debts. SEC Regulation S-K Item 103 mandates quarterly and annual financial reporting of corporate environmental liability and debt exposure as part of reporting legal proceedings on violation of environmental laws.
SEC Disclosure Requirements Under regulations promulgated by the Securities and Exchange Commission (SEC), certain kinds of environmental liabilities must be reported in documents disseminated to investors. This article from the Schnapf Environmental Law Center describes the disclosure obligations established by the SEC for environmental liabilities.
Asbestos From the Insurance Information Institute a brief synopsis of recent increase in asbestos claims.
After Years of Nurturing, Brownfields Begin to Bear Fruit. Engineering News-Record, February 18, 2002. Explains the progress of the EPA Brownfield initiative and some successful projects that have turned brownfields into assets.
Defining A Brownfields Site: Challenges and Opportunities While somewhat difficult to define, the basic concept of "brownfields" tends to encompass common characteristics.
Environmental Insurance Products Available for Brownfields Redevelopment Insurance can be a useful tool in redeveloping brownfields. This report prepared for the EPA discusses how environmental insurance is used in brownfield projects.
The Insurance Industry's Response to the Urban Evolutionary Process This articles from ECS, Inc. outlines the misunderstandings about brownfields, who are the players in a brownfield deal and how insurance protects their interests.
Environmental Insurance for Brownsfields Redevelopment: A Feasibility Study The report describes the types of environmental insurance that are available for brownfield redevelopment, how insurance can be used, current constraints, case examples, and suggested actions to overcome barriers to effective use of environmental insurance.
The Environmental Risks of Residential Construction Jeff Slivka, IRMI Expert Commentary, October 2002. Over the past few years much has been said about residential contractors and the environmental exposures associated with that type of construction. Recently, however, most of that discussion has been centered on the hottest topic in virtually every industry—mold. Yes, right now mold is a big issue, however, it appears that we have lost sight of some of the “other” environmental exposures associated with residential work.
The Pitfalls of Accepting Contaminated Fill
Jeff Slivka, IRMI Expert Commentary, March 2002. An earthwork contractor walks on to a job site. A commercial structure will be built upon completion of the site prep work. The earthwork contractor accepts fill material at the site to establish proper elevations. The same material is used throughout the site wherever needed.How To Control The Potential Financial Losses That Can Arise From Contracts Carefully prepared contracts are an important risk management strategy for preventing financial losses, but too many companies enter into business transactions contractually unprepared. Poorly prepared business contracts can mean potential liabilities for your business.
Disclosing Environmental Liabilities - Director, Officer and Insurance Issues. Kenn Anderson and Donna Ferrara, Arthur J. Gallagher, September 2003. Proper and full disclosure of the potentially material financial impact of environmental liabilities was a corporate concern long before the advent of Sarbanas-Oxley Act. Organizations with environmental liabilities and exposures need to implement appropriate risk financing techniques, including environmental insurance.
Conducting Proper Environmental Site Assessments Jeff Slivka, IRMI Expert Commentary, July 2001. Whether it's the purchase or sale of a new parcel or parcels of property, the merger or acquisition of a company, or just a method of proactively managing environmental risk at existing properties, environmental site assessments (ESAs) play an integral role. Environmental Site Assessments, conducted properly, could save a company thousands, if not millions, of dollars in future problems or liability by simply identifying environmental conditions or environmental contamination before it affects third parties.
One Year's Experience with the ASTM E1527-00 Phase I Standard ESA Report, Published by Environmental Data Resources, Inc., September 2001. The newly revised ASTM E 1527 Phase I standard was published in July of 2000. This feature story will summarize the areas of confusion with the ASTM E 1527-00 standard based on the questions raised in these conversations. This article is in two parts
Part I and Part II .Moving From Deal-Breaker to Deal-Facilitator: The Changing Role of the Phase I Professional ESA Report, Published by Environmental Data Resources, Inc., June 2001. The ten cases outlined in this article demonstrates how a Phase I environmental professional may be able to help eliminate concern about an environmental condition through the use of environmental insurance.
Framing Environmental Risks in a Business Deal ESA Report, Published by Environmental Data Resources, Inc., December 2000. In order to be in a position to work well with clients, it is essential that Phase I environmental professionals know how to frame environmental risks and explain it. Unfortunately, all too often environmental professionals do a poor job in this area and become "part of the problem" instead of "part of the solution".
View sample environmental data reports from Environmental Data Resources, Inc. (For more information 800-352-0050 or www.edrnet.com)
EDR Radius Map Report
EDR Fire Insurance Map and City Directory Abstract
Sample Audit Report
User's Guide to Environmental Insurance
Navigating the U.S. Environmental Liability Market (Part 1) Alan Bressler, IRMI Expert Commentary, March 2002. Before the 1970s, the potential effects of industrial activities on the environment were not widely reported. Since that time, however, regulatory changes, social awareness, and a few highly publicized cases against major corporations prompted organizations to take significant strides in managing environmental risks.
Navigating the U.S. Environmental Liability Market (Part 2) Alan Bressler, IRMI Expert Commentary, March 2002. This article will address the two areas of concern most likely to affect the market: the repercussions from the September 11 disaster and emerging environmental concerns, specifically mold and bio-terrorism.
How To Take A Proactive Approach To Indoor Air Quality (IAQ) Issues Indoor air quality (IAQ) issues, such as complaints of discomfort including headache, nausea and dizziness, are increasingly common and are directly responsible for office building vacancies and workers' compensation claims.
The Evolving Art of Insurance Archaeology Emerging torts, mergers and acquisitions, coverage exclusions, and new policies have made insurance archaeology a corporate best practice.
Buried Treasure Municipalities have been left literally holding the bag for the last 18 years when it comes to Superfund liability for environmental cleanup, but there are ways to limit the entity's out-of-pocket expenditure. If you can document your insurance coverage history, you may be able to get a past policy-or multiple past policies-to cover a significant amount of the cost.
Mending the Insurance Safety Net Insurance portfolio reconstruction and maintenance is essential not only for large manufacturers and retailers, but for any organization with a broad range of environmental risk exposures and environmental insurance coverages.
Due Diligence: Insurance Archaeology Prior to Mergers & Acquisitions Companies fishing the corporate waters for potential mergers and acquisitions need to recognize that these waters are festooned with icebergs -- in the form of environmental liabilities and product liabilities that may be unknown to the seller or potential partner.
Lead Based Paint Disclosure and Waste Disposal Rules This article from the Schnapf Environmental Law Center discusses the new EPA rules on renovation of housing with lead-based paint and disposal of lead-based paint debris
Find out how the environmental insurance underwriters are responding to mold. With the ever increasing interest, ERRA has created a mold resources page specifically to meet the needs of the risk management professional. Find articles and resources on mold insurance availability, mold exclusions and the latest legal and regulatory issues.
Pollution Exclusion Means All Types of Consultant/Contractor are Open to Liability From the a/e pronet website, this article explains the environmental exposure of contractors as a result of the pollution exclusion in liability policies.
The Absolute Pollution Exclusion - Out Of The Frying Pan? This article discusses the absolute pollution exclusion, the terms of the pollution exclusion and the coverage interpretation battle.
Recognizing and Evaluating Environmental Risks Associated with Financial Services Acquisitions, Environmental Law Advisory, Goodwin Proctor, December 2001. Freed of many regulatory restraints and propelled by market conditions, the financial services industry is in the midst of rapid consolidation and diversification. Banking and other financial operations do not give rise to environmental risks and environmental liabilities in the same way, or in the same extent, as might be expected from heavy manufacturing or other industrial activities.
Integrated Environmental Risk Managment In Real Estate Transactions by Susan Neuman. Traditional risk management posits a rational, five-step process for managing risks. The differences between the traditional and the environmental risk management processes lie in identifying and analyzing environmental risk and examining the feasibility of alternative risk management. There are environmental insurance policies available now which can cover the environmental risks and which can be manuscripted to fit a real estate transaction, but care should be taken that the environmental insurance policy actually covers the risks.
Tailored to Fit by Susan Neuman. Environmental contaminated properties represent a huge investment opportunity, but much of it lies untapped because of environmental liability concerns. Anyone who buys property that is actually or potentially contaminated should consider it as a risk management option, and they should do so very early in the brownfield transaction process. Two types of environmental insurance policies are now available that provide meaningful and inexpensive coverage to sites that are actually or potentially contaminated: the new pollution liability policy and the cleanup cost cap policy. This article explains these policies and how to use them most effectively as part of the contaminated property transaction process.
Finding a Good Tailor by Susan Neuman. This article which appeared in the December 1999 issue of Brownfield News analyzes two new environmental insurance products, the cleanup cost cap and pollution liability policies, which have proven to be key factors in the success of some contaminated property transactions. To achieve this success, environmental insurance experts need to tailor the policy to the transaction and to the liability for which coverage is sought.
The New Environmental Insurance Products: When Does It Make Sense To Buy Them? by Susan Neuman. Part One of this article addresses the question, "What are the new environmental insurance products?" by contrasting them with those previously available. Part Two of this article will answer the question, "How does one decide whether or not to buy environmental insurance policies?"
Selecting Strategies For Managing Environmental Risk by Stephen Hilfiker. Knowing how to manage environmental risk can help you close deals on environmentally contaminated properties.
Environmental Lender Insurance: Applications and Benefits (pdf format) by Edmund Greene, Commercial Mortgage Insight, December 2001. One-off and portfolio policies for environmental lender insurance differ in their approaches, but both can create business opportunities and increase financial security.
CMBS: Moody's approach to Secured Creditors This report will examine in detail Moody's view of the form the environmental insurance policy and our estimate of credit impact of such coverage in CMBS pool transactions.
The Credit Impact of Secured Creditor Environmental Insurance on CMBS Transactions, Standard and Poor's. Standard & Poor's has reviewed and evaluated the credit impact of secured creditor environmental insurance policies on CMBS transactions for the past seven years. The purpose of this article is to outline Standard & Poor's perspective on the credit impact resulting from the use of secured creditor environmental insurance instead of, and in addition to, traditional environmental due diligence.
Environmental Contamination And Pollution Insurance, by Gregg Nathanson, Esq, Couzens, Lansky, Fealk, Ellis, Roeder, & Lazar, P.C. Ten years ago, purchasers avoided contaminated property like the plague. Times have changed. Today, someone who buys contaminated property can take several steps to manage or practically eliminate the risk of environmental liability.
Pollution Insurance Can Cleanse A "Contaminated" Transaction, by Gregg Nathanson, Esq, Couzens, Lansky, Fealk, Ellis, Roeder, & Lazar, P.C. Title agents, examiners and employees all know environmental problems can postpone or even kill a property transfer deal. Developers and lenders are often reluctant to purchase or finance the purchase of contaminated property, because they want to avoid environmental liability. Today, pollution insurance can be used to facilitate the contaminated property transaction.
Back to Basics: Transportation Safety Tips The following transportation safety tips can help you improve your defensive driving skills, and prevent accidents and injuries.
Company Vehicle/Driver Safety Program Checklist Use this checklist of considerations as an outline to help develop your company's driver safety program.
Don't Forget About Your Dispatchers While many companies ensure that their drivers receive regular training, they sometimes forget about dispatcher training. It’s surprising and unfortunate, given the responsibility dispatchers shoulder, the amount of safety information they’re required to know, the number of different people with whom they communicate and the frantic pace of their jobs.
Extending The MCS-90: Does It Protect The Insured? MCS-90 is a required endorsement on all policies for anyone who transports property. Unfortunately, insurers misunderstand what the endorsement actually provides coverage for - find out.
Hidden Environmental Exposures Of The Transportation Industry The most common environmental exposure for a transporter is the release of diesel fuel. Other environmental exposures exist in the operations and maintenance of vehicles.
It's More Than Just Crashes That Are Costly We spend a lot of time working to address the issue of vehicle safety and crash avoidance or control. Most of our insurance service relates to vehicle liability coverage, so our emphasis is well-justified. Many of our clients also focus on vehicle liability. After all, a major crash is the quickest way to find your company featured in the local newspapers.
UST Regulatory Program This article by the Schnapf Environmental Law Center discusses the requirements of the federal underground storage tank program.including which tanks are regulated, notification requirements, design and construction requirements, release detection, and closure requirements.
About Us | Newsletter | Events | Supporters | Contact Us
Search | Ask an Expert | Underwriters | Industry Newsletters | Links | Become a Member | Site Map
Copyright © 2004 Environmental Risk Resources Association. All rights reserved.
4901 Pine Cone Circle, Middleton, WI 53562
webmaster@erraonline.org
