NFP, an Aon company’s Post

️🚨 In the second half of 2023, emerging contaminants continued to be problematic as we become increasingly aware of their effects on society. 🤔 With new laws enacted by local regulatory agencies to match existing federal regulations, do you know how these changes will impact your business? 🗣️ Jared Dubrowsky, VP of NFP’s Environmental Insurance practice, gives an update on the state of the environmental insurance industry and what to expect for 2024. 👉 Get the latest information and insights in NFP’s H2 Property and Casualty Trend Report and Claims Journal, out now: https://lnkd.in/e4pnFnFE #NFP #Insurance #TrendReport #PropertyandCasualty #Construction #Energy #Marine #Remediation #ESG #Mitigation #InsuranceIndustry #Contaminants #Chemicals #OilandGasIndustry #Retrenchment #EnergyIndustry #Pollution #InsuranceBrokers

Whether you’re in construction, manufacturing, real estate, or any industry that may interact with the environment, Environmental Insurance can be a crucial safeguard. At SterlingRisk, environmental insurance is a mainline of coverage that we negotiate for our clients to ensure they are protected against these evolving risks. Importance of Environmental Insurance: - Unpredictable Risks: Environmental incidents such as pollution, contamination, or hazardous waste leaks can occur unexpectedly and have long-term impacts. - Financial Protection: Cleanup costs, legal fees, and third-party claims can be financially crippling without proper coverage. - Compliance and Regulations: As environmental regulations tighten; businesses need to ensure they’re protected against non-compliance liabilities. - Reputation Management: A proactive stance on environmental responsibility can boost your brand’s reputation and instill trust in customers and partners. Please contact the President of our Environmental Department Howard Tollin or myself to begin negotiating this coverage for you. #EnvironmentalInsurance #RiskManagement #CorporateResponsibility #Sustainability #BusinessProtection #Environmental

Do your Environmental Consultant clients have adequate cover for the unforeseen? The consequences of environmental errors can be significant for consultants, impacting both their finances and reputation. Environmental hazards aren't always predictable, and they can persist despite the best efforts of Environmental Consultants. Some potential claims that Environmental Consultants may face include: ➡️ Negligent design of landfills, water or wastewater plants environmental/emission control systems ➡️ Negligent design of remediation systems ➡️ Negligent conduct of Phases ➡️ Poor environmental evaluation or site assessment ➡️ Strict liability from the brokering, selection of transporter, or selection of storage or disposal site for hazardous waste. Stay ahead by partnering with experts who understand the inherent risks for Environmental Consultants. 📩 info@genoa.co.za ☎️ 010 286 1915 🌐https://lnkd.in/eS8DNNHB Note: PRODUCT is administered by Genoa Underwriting Managers (Pty) Ltd, an authorised financial services provider [FSP no 38225]. PRODUCT is a non-life insurance product underwritten by Safire Insurance Company Limited, a licensed non-life insurer and authorised financial services provider [FSP no 2092]. #Genoa #EnvironmentalProtection #BusinessResilience #RiskManagement

Environmental exposures can seriously impact a private equity firm’s profitability. How can PE firms protect portfolio values from an increasing number of environmental risks? Learn more in this article from Liberty’s Rob Langtry and Mark Hayes. #libertyprivateequity

Are you headed to MSECA this week? Stop by to chat with EnviroLearn about our Phase I ESA trainings for environmental consultants! #MSECA #EnvironmentalConsultants

ENVIRONMENTAL INSURANCE - The Green Program The General Real Estate Environmental Enterprises NET (GREEN) was created by SterlingRisk to provide pollution coverage, filling the gaps created by pollution exclusions and limitations in general liability and property policies. Designed by our Environmental Services team, SterlingRisk Environmental offers broad pollution conditions coverage available from a top-rated carrier. The SterlingRisk Environmental program provides limits of up to $1 million per insured. #Insurance #Envriomental #PollutionCoverage #RiskManagement

"My client does NOT have a Pollution exposure" During a recent educational seminar hosted by Liberty Specialty Markets (Asia Pacific) I was asked a number of questions around "when to report a Pollution incident?" As Charu Stevenson partner and environmental liability specialist at Wotton + Kearney, rightly has pointed out “while many would assume that environmental liability is only relevant for multi-million-dollar corporations, in fact even a sole contractor is exposed to the vast legislation that has rapidly developed in recent years. We felt that, in the current climate, it was critical to capture the latest information regarding this complex and litigious landscape.” The link to their excellent comprehensive guide below provides a detailed summary of pollution offences, reporting and compliance obligations, regulatory actions, and associated penalties at a state level. Liberty Specialty Markets (Asia Pacific) Liberty Mutual Insurance Liberty Specialty Markets Liberty Mutual Global Risk Solutions Ironshore Insurance Wotton + Kearney Steadfast Group Limited National Insurance Brokers Association (NIBA) #Riskmanagement #Education #Pollution #Contamination #Regulation #Environmentalinsurance #Insurance #Insuranceeduction #Environment #EPA #Legislation #Claim #Reporting #ESG #Regulations #Environmentallaw #Law #Legislation #myclientdoesnothaveapollutionexposure #epa #contaminatedland #liberty #insuranceinsights #companydirector #business #company #innovation #Insurancebroker

Next week ABA TIPS Section is having its Fall Leadership Meeting in Kauai. It is a tough assignment, but as the Chair of the Dispute Resolution Committee I look forward to attending and am proud to be a sponsor of the conference. It is fitting that we head to Hawaii as the Hawaii Supreme Court just issued an important ruling answering two certified questions dispositive on the question of whether an insurer owed a duty to defend gas companies for emitting greenhouse gases. The Court resolved two issues. First, in favor of the policyholders, it determined that reckless conduct could be an accident for purposes of insurance. Clarifying the standard the court noted that if an insured did not intend harm with practical certainty then there still could be an accident. The next issue was whether greenhouse gases are pollutants. The largest coverage matter I ever litigated was whether there was insurance coverage for improvements required at certain coal fired utility plants. It was over $1 Billion dollars. Ultimately that case turned on whether there was an occurrence and whether the damages sought were business expenses or property damage. But because of my involvement in that case I was invited to the ABA TIPS ICLC annual conference and was on a panel with an attorney from Anderson Kill to discuss issues related to emerging areas of climate litigation. Twelve years later these issues are still emerging. The absolute pollution exclusion is a unique provision. Most jurisdictions find it overly broad such that it could apply to anything. Slip on some oil in the parking lot? Oil is a pollutant so no coverage, right? The general rule is if an exclusion is ambiguous it is not enforced. Yet, the majority of states apply the exclusion to "traditional environmental claims." Here, the Hawaii Supreme Court determined that suits against oil companies for discharging gases into the environment were traditional environmental claims (even if they are relatively novel). As such, the exclusion applies and there is no coverage.

Understanding the risks of pollution is more crucial than ever! Dive into the latest article from #APRealEstate: "Mitigating Pollution Risks with Environmental Insurance." Discover how insurers are adapting in a world of emerging exposures and how businesses can guard against environmental liabilities. It's not just about being insured; it's about being prepared. https://bit.ly/4amp7Vr #PowerThroughPartnership #EnvironmentalInsurance #RiskManagement #RealEstate

Pollution exposures can result in significant financial losses, potentially leaving organizations with millions in uncovered costs. Stay informed and safeguard your business by checking out our new #USIExecutiveSeries article on how to mitigate environmental risks. #pollution #riskmanagement #businessprotection