Environmental Insurance Brokerage Services

Environmental Insurance is an approximately $2 billion business and is recognized by the EPA, state and local governments as well as bank regulatory institutions as a valuable tool to getting deals done and providing valuable financial security. Environmental liability is ubiquitous, regulations are constantly changing and insurance products and carriers come and go.  Professional knowledge with a pulse on these changes is vital to a successful insurance program.   What is the appropriate policy, limits, deductibles, added coverages?  A specialist with experience and knowledge is needed to bring value added to each stakeholder.

Environmental Insurance: Uses and Applications

  1. Expedites transactions in cost effective manner;
  2. Replace Phase I (discussed under the Lender Insurance Portion);
  3. Replace Phase II;
  4. Reopener protection – numerous sites ‘closed’ with a NFA letter have been reopened requiring additional remedial work (see Vapor Intrusion);
  5. In lieu of personal recourse (borrower indemnification);
  6. In lieu of other indemnification agreements from an insurance company vs. the financials of an indemnitor;
  7. Unknown risks – numerous Phase Is will state a site is ‘clean’ only later to discover contamination;
  8. Ongoing operational risk with USTs, ASTs, manufacturing.
Coverages – depend upon the policy but generally provide the Insured protection against:
  • On-site cleanup;
  • Off-site cleanup;
  • Third party claims: Bodily Injury and Property Damage (Diminution in Property Value)
  • Other coverage enhancements: mold, natural resource damage, business interruption

Expertise in Insurance Brokerage and Environmental Insurance

The Greene Group, Inc. has been providing superior environmental insurance brokerage services nationwide for almost 20 years.  An insurance broker’s value added to a client is procuring an insurance program with the broadest coverage, at reasonable premium rates and in a timely manner. Accomplishing the Best Coverage Options & providing the right coverage is knowing:
  1. Client’s needs and risk exposure;
  2. State and local laws – each state has specific environmental regulations;
  3. Insurance carrier policy forms, coverages enhancements and carrier relationships.
 Environmental Insurance, Insurance Brokerage