Fixed-Price Cleanups: How To Enter Them In The Post-Cost Cap Insurance Era Using Captives and Other Cost Cap Alternatives
Lessons from Accomplished FPCs, When and Why to Use CCAs, and the Mechanics of Using a CCA
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will review the legal mechanics of entering Fixed-Price Cleanups (FPCs) in the wake of Commercial Insurers’ 2011 exit from the Cost Cap insurance market. It is designed for counsel for property owners and prospective owners (including brownfield developers), remediation contractors, PRP groups, governments and bankruptcy debtors and creditors, all of whom share an interest in quantifying cleanup costs in a manner that is accurate, efficient, and will hold true over time. Our speaker will examine the use of Cost Cap Alternatives (CCAs) that have been approved and used to support FPCs since the 2011 demise of the Commercial Cost Cap market.
- Use of CCAs to support FPCs
- Why to use
- When to use
- How to use
- Advantages and disadvantages
- Mechanics of CCAs
- Lessons learned from completed FPCs
- Guidance for using CCAs in FPCs
The panelist will review these and other key issues:
- What are the lessons from FCPs that have been completed?
- What are the challenges and pitfalls of using CCAs in FPCs?
- What are best practices for leveraging CCAs in FPCs?
Michael O. Hill, Esq.
Primmer Piper Eggleston & Cramer
Mr. Hill concentrates his practice in the areas of environmental risk transfer through third-party contracts (e.g.,... | Read More
Mr. Hill concentrates his practice in the areas of environmental risk transfer through third-party contracts (e.g., with Contractors) and through Commercial Insurance, Captive Insurance, and other means. He has been involved in FPCs since 1998, as an attorney, as a corporate officer, and as an insurance broker. He has helped private owners and developers, the U.S. Air Force, remediation contractors and others create and apply Cost Cap and then Cost Cap Alternatives to remediate and/or transfer thousands of acres of contaminated property using Fixed Price Cleanups.Close