• Rockford, Ill.: Modernizing a Century–Old Community Landmark

  • RE3 Focus: Pennoni On Leading Edge of Sub-Slab Depressurization

  • Using GIS To Decipher Large-Scale Remediation Projects

  • Right Place, Right Time

 

Assuring the Market

Event: The insurance industry begins to issue expanded insurance policies that cover the wide range of risks associated with remediating and transferring environmentally impaired properties. Action: AIG Environmental, ECS, Frontier, Zurich and Kemper began to issue new insurance policies in the brownfield market and developers and remediation contractors began to use them. This facilitates the transfer of more brownfields. Connection: The wide range of new insurance products brings increased certainty to cleanup costs and allows insurance to become part of the risk management plan. It is difficult to peg the insurance of a brownfield insurance policy to one of the major carriers or a particular date or time because environmental insurance grew out of the focus on pollution issues in the 1980s. “Standard property and casualty underwriters—the big insurance companies such as Aetna, Kemper and Travellers—had provisions in their general liability policies that would cover pollution,” says Robert Hallenbeck, senior…Log In to Read Full Article

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