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HUB formed a specialty practice exclusively dedicated to environmental risk and insurance with the understanding that environmental risk was playing an increasing role in our clients’ ability to achieve their financial objectives. Our environmental unit has since grown to become among the largest environmental insurance brokers in the middle market and is solely focused on protecting our client’s bottom line against environmental liabilities.
Environmental insurance and the insurer marketplace offering the coverage have changed dramatically in recent years. The most notable change is that premiums for environmental insurance are a fraction of what they were a decade ago. Equally important are the revisions to the insurance coverage that is now offered. Not only will the policy cover for new pollution conditions but will also respond to unknown contamination which occurred before the policy went into effect.
Environmental liabilities can arise from virtually any aspect of a manufacturing and distribution enterprise, especially those companies who may find themselves in the disastrous position of being the “deep pocket” involved in an environmental issue. Exposure to financial loss from historical usage of owned facilities, non-owned disposal sites, transportation risks and even the new dangers of terrorism can now be eliminated through comprehensive and highly affordable environmental insurance.
While the benefits of environmental insurance are clear it is critically important that the coverage is designed and negotiated by a specialist environmental broker. Policy terms and conditions must be specifically negotiated to assure the proper risk transfer has been achieved, an impossible task for those not involved in the environmental insurance marketplace. Equally important to our clients are the lower premiums they pay resulting from the enhanced buying power we enjoy as a major producer of environmental insurance.
Here are a few of the risks that an environmental policy can protect against:
• Asbestos
• Lead Paint
• Mold
• Development of Brownfield sites
Partial List of Who We Serve:
• Car dealerships, Gas/Service Stations & Garages
• Contractors
• Dry Cleaning & Laundry Facilities
• Environmental Consultants
• Environmental Remediation Contractors
• HVAC Contractors
• Hospitals & Clinical Institutions
• Hotels & other Lodgings
• Real Estate
• Shopping Centers
Environmental Insurance for Real Estate
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