Each year, the losses from Natural Disasters continue to rise. In correlation, we are seeing a rise in the number of lawsuits for environmental liabilities caused by Natural Disasters. For businesses located in areas impacted by Natural Disasters, part of “Best Practices” is having a financial assurance strategy in place. As ERMI has coached in…
Tag: liability
TEAMing with Bankers to Drive Insurance Sales
For decades, Bankers have utilized environmental indemnifications in their loan documents as protection from environmental liabilities. Then in the mid 1990’s Phase I / II… environmental site assessments were added as another layer of defense for a Bankers lender liability exposure on real estate transactions. In basic terms, environmental indemnifications and Phase I’s have been…
City Sues Firefighter Foam Makers Over Water Contamination
environmental Strategist, between the lines: In a past article, “Must Read For Insurance Professionals That Sell Commercial Fire Insurance Policies,” I strategize why insureds need a financial assurance plan before a fire occurs to address environmental liabilities caused by fires. After a fire occurs, insured’s need monies to address the contamination left behind by the…
ERMI on Contractors
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…