Managing Risk: Environmental Insurance and Contracts

Whether you are a buyer or seller of environmental services; it is important that you understand how insurance mitigates contract risk.  The objective of this presentation is to help you understand your insurance coverage and better manage the level of exposure you are assuming in your contracts and operations.  This is essential to help control your insurance costs and preserve your firms bottom line. 

This presentation will focus on important elements and concepts of insurance and also provide a layman’s guide to some basic contract language; 

• Certificates of Insurance
• Additional Insured
• Insured Contracts
• Waivers of Subrogation
• Occurrence versus Claims made coverage
• Claims notification
• Express versus Implied contracts
• Indemnity
• Warranties and Representations 

There has been an enormous increase over the last 10 years in the number of carriers providing environmental insurance products. The final portion of the presentation will provide an overview of what is currently available in the environmental insurance marketplace regarding options for structuring your insurance program.  I will also provide an update on emerging trends and issues that are influencing insurance carrier coverage (e.g., indoor air quality issues/chlorinated solvents and shale gas well development)