Environmental Insurance, Escrows, and Contractual Transfers in the Context of Contaminated Property Cleanups, Purchases and Sales

A live 90-minute CLE webinar with interactive Q&A


Thursday, February 7, 2019

1:00pm-2:30pm EST, 10:00am-11:30am PST

or call 1-800-926-7926

This CLE webinar will review both traditional and evolving environmental insurance products (e.g., Pollution Legal Liability, Cost Cap and Excess of Indemnity), escrows, contractual liability transfers and other tools in the context of the cleanup and/or transfer of contaminated properties.

Description

The webinar is designed for real estate, environmental and bankruptcy counsel serving industrial clients, governments, Brownfield developers, remediation contractors, “PRP” groups, and others. Each benefit from quantifying and even reducing cleanup costs in a manner that is accurate, efficient, and will hold over time.

Contaminated properties present risks of: (i) costs for unknown pollutants and otherwise unanticipated remediation; (ii) cost overruns for expected remediation; and (iii) toxic tort and other private, third-party claims. For 20 years, parties have relied on Pollution Legal Liability insurance and, until 2011, on “Cost Cap” insurance to address these risks.

Traditional insurers stopped offering Cost Cap insurance in 2011 and the environmental risk transfer industry has developed alternative Cost Cap structures as well as Excess of Indemnity insurance. Escrows, captives, trusts, annuities and letters of credit work with the insurance to collateralize risk.

Listen as our speakers – both of whom are attorneys, one of whom is also an insurance broker – discuss these tools as they have arisen and evolved over the last 20 years.

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Outline

  1. Use of environmental insurance and other risk transfer tools to support Fixed-Price Cleanups and Purchases/Sales of Contaminated Properties
    1. Why use
    2. When to use
    3. How to use
    4. Advantages and disadvantages
  2. Mechanics of Tools
  3. Lessons Learned

Benefits

The panelist will review these and other key issues:

  • How can costs be best quantified and fixed?
  • How can costs be best reduced?
  • How can cleanup quality be best improved?
  • What are the opportunities (and best means) of negotiating and manuscripting favorable language in policies, escrows and other risk management tools?
  • What are the challenges and pitfalls of using the various tools?

Faculty

Hill, Michael O.
Michael O. Hill

Atty
Alba Risk Management Services

Mr. Hill is an attorney and also a surplus lines insurance broker, and his firm is a surplus lines insurance brokerage...  |  Read More

von Stamwitz, George
George von Stamwitz

Partner
Armstrong Teasdale

As leader of the firm’s Environmental practice area, Mr. von Stamwitz manages environmental litigation,...  |  Read More

Live Webinar

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Live Webinar

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Live Webinar & Download

$394

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$394 + $19.45 S&H

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$297

Download

48 hours after event

$297

DVD

10 business days after event

$297 + $19.45 S&H