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SEIP 2024 SPEAKER SPOTLIGHT: Join the Insurance Business America Hall of Famers Ken Berger, Joe Boren, and David Dybdahl,CPCU,ARM, CIC, MBA for their Panel Discussion "Evolution, Insights, and Future Trends in Environmental Insurance. "This session offers a retrospective analysis of the environmental insurance landscape spanning several decades. In a Q&A they will share their insights, experiences, and observations, providing attendees with a historical perspective on how the environmental insurance market has evolved over time. Through their collective wisdom, participants will gain a deeper understanding of the challenges, opportunities, and pivotal moments that have shaped and are shaping the industry and valuable lessons learned along the way! Register today before we sell out! #EnvironmentalInsurance #IndustryInsights #HistoricalPerspective #InsuranceMarket #EnvironmentalProtection #RiskManagement #InsuranceIndustry #ExpertPanel #Insights #LessonsLearned #SEIP2024

Are you talking to your contractors about their environmental exposures and possible coverage gaps in their current insurance policies? Most, if not all, contractors face some form of environmental exposure on a daily basis which may not be covered under their current CGL policy. Whether that's from asbestos, mould, or other hazardous chemicals and materials that they may work with or are found on the job site. At Totten Insurance Group Inc. we offer a Contractors Pollution Liability (CPL) product that not only fills those possible coverage gaps but includes important coverages not included in the CGL such as coverage for fines and penalties. This can be offered on an annual policy basis or as a project/contract specific basis as well. We can offer limits up to $15,000,000 and have capabilities to underwrite any class and any size, big or small, of contractor. Reach out to myself ([email protected] or 437-243-3187) or any of our Environmental Underwriters at Totten Insurance Group Inc. to learn more about how our CPL product can help protect your contractors! Phil Policelli Stephanie Kurz #CPL #TottenInsurance #PollutionLiability

"The polluter pays" Stating a principle is one thing implementation is quite another. A Freedom of Information request filed by the FT uncovered that 129 abandoned mine sites across Wales are contributing to poor water quality, with Natural Resources Wales (NRW) estimating that 350–500t of metal leaks into the water supply each year. Perhaps instead of trying to track down the culprits when it's all too late we should be assessing risks right at the start. Surely given the environment is so vital to every aspect of life we should all be required to take out Environmental liability insurance, just as we do with employers and public liability. With the added benefit that insurers would be wary of insuring enterprises playing fast and loose on environmental matters.

Why would an old insurance policy pay for the cleanup of a contaminated site? I get asked this question, often. At the core, an insurance policy is a contract between the policyholder and the insurance carrier. For older general liability policies, the pollution exclusion is either ineffective (pre-1985 states) or non-existent (1970 states). And these contracts had the following language: "The carrier will pay all sums which the insured shall become legally obligated to pay due to property damage" The operative phrase from above is "legally obligated". That is where the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) steps in. This federal legislation empowers the EPA to designate Potentially Responsible Parties (PRPs) and outlines the different ways in which a party may be "legally obligated" or liable for environmental contamination. * Current Owners and Operators * Past Owners and Operators * Generators * Transporters So, If any of the above had, liability during the policy periods, these old insurance policies (contracts) prior to 1985 and 1970, would owe the a duty to defend and potentially indemnify the policyholder. You can read more about CERCLA and PRPs in Restorical Research LLC newest blog (link in the comments). #restoricalresearch #wearenotattorneys #thisisnotlegaladvice

MYTH!!! Let's debunk common myths surrounding environmental insurance. Clear up misconceptions and understand the true value of having this coverage for your business. #MythBusters #InsuranceEducation #ARMR #environmentalinsurance

MYTH!!! Let's debunk common myths surrounding environmental insurance. Clear up misconceptions and understand the true value of having this coverage for your business. #MythBusters #InsuranceEducation #ARMR #environmentalinsurance

Are you talking to your contractors about their environmental exposures and possible coverage gaps in their current insurance policies? Most, if not all, contractors face some form of environmental exposure on a daily basis which may not be covered under their current CGL policy. Whether that's from asbestos, mould, or other hazardous chemicals and materials that they may work with or are found on the job site. At Totten Insurance Group Inc. we offer a Contractors Pollution Liability (CPL) product that not only fills those possible coverage gaps but includes important coverages not included in the CGL such as coverage for fines and penalties. This can be offered on an annual policy basis or as a project/contract specific basis as well. We can offer limits up to $15,000,000 and have capabilities to underwrite any class and any size, big or small, of contractor. Reach out to myself ([email protected] or 437-243-3187) or any of our Environmental Underwriters at Totten Insurance Group Inc. to learn more about how our CPL product can help protect your contractors! Phil Policelli Douglas Fast Stephanie Kurz Kaylie Murdock #CPL #PollutionLiability #EnvironmentalLiability #Totten

Environmental insurance is an insurance policy that protects the policyholder from financial liability arising from environmental damage. This damage can be caused by various events, such as hazardous material spills, air pollution, or improper waste disposal. Environmental insurance can help cover the costs of cleanup, remediation and other preventive measures. This can also help protect policyholders from lawsuits filed by third parties. There are different types of environmental insurance available, and policy coverage can vary. It is important to choose a policy that suits the specific needs of the business or individual. Environmental insurance can be an important tool in managing environmental risks. This can help companies protect themselves from major financial liabilities and provide peace of mind. If you are a business concerned with protecting yourself from the risk of environmental damage, then environmental insurance is something you should consider. #environmentalinsurance #riskpolutioninsurance #insuranceinsightchannel

🌱 Environmental and construction risks are set to drive increased claims activity in 2024, fueled by rising social inflation and a savvy plaintiff’s bar. This insight comes from RT Specialty's Environmental and Construction Professional team in their 2024 Market Update. 🛠️ The Risk & Insurance report sheds light on trends in environmental, environmental casualty, and construction-related professional liability insurance, offering invaluable insights for businesses. Expect updated language and restrictions in environmental liability coverage, alongside eroding limits and capacity for project-specific professional liability. It's crucial for businesses to stay informed and prepared. Contact me if you have any concerns about it! #RiskManagement #InsuranceTrends #EnvironmentalLiability

Environmental insurance coverage is a key component of a comprehensive business insurance program, protecting employers from potential contaminants that threaten their property and that they could be held liable for. What can companies expect from environmental insurance coverage in 2024? Lydia Zaharia, Regional Environmental Marketing Director Marsh McLennan Agency, elaborates in this Legal Dive article. #Environment #Trends