Contractors continue to be the number one class of business Environmental Risk Managers, Inc. (ERMI) writes for our Partner Agencies. The vast majority of this is being driven by contracts requiring contractors to evidence Contractor’s Pollution Liability (CPL) insurance in order to perform their construction services.
“Back in the day” it was not uncommon for contractors to negotiate the CPL insurance requirement out of the contracts. Today, so many companies have experienced environmental liabilities created by the contractors they have hired that it’s common practice to require CPL coverage and not negotiate it out of the contract. Home Depot and Walmart have spearheaded the charge since they each paid multi-million dollar fines to the EPA for liabilities created by their vendor contractors.
ERMI has also developed environmental Risk Assessments (eRA) for a variety of construction classes. The eRA’s are designed to get you and your client/s 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 because an educated insured understands the value investing in an environmental insurance product will add to their business model.
The eRA’s come in three parts:
- Review of environmental exposure impacting your insured.
- Environmental loss examples
- Environmental insurance coverage’s that are appropriate for the insured to consider.
The ultimate goal is to educate your insured so they can make the best decisions for their business. If your insured sees value and elects to further pursue environmental insurance coverage, we’re here to make your job easier by utilizing our insurance network to market your client’s submission and supply you with the best coverage options.
Please let ERMI know how we can assist you to drive your sales of CPL coverage.