CASE STUDIES
Client:
Developer of former Manufactured Gas Utility Plant Property
Problem:
Developer bought contaminated former plant site to develop for residential,
retail and commercial uses. The Utility required indemnification from the buyer
and insurance for cleanup and third party claims.
Risks:
Known and Unknown contamination on-site that may result in third party claims
for bodily injury and property damage.
Solution:
A 10 year, $20,000,000 Pollution Liability and Cost Cap policy was placed for
the buyer and seller to cover third party liabilities, cleanup of known and
unknown contamination.
CASE STUDIES
Client:
Developer of former Manufacturing Plant
Problem:
Developer bought contaminated former plant site to develop for residential,
retail and commercial uses. The Manufacturer required indemnification from the
buyer and insurance for cleanup and third party claims.
Risks:
Known and Unknown contamination on-site and off-site that may result in third
party claims for bodily injury and property damage.
Solution:
A 10 year, $50,000,000 Pollution Liability policy was placed for the buyer and
seller to cover third party liabilities and cleanup of unknown contamination.
CASE STUDIES
Client:
Metal parts Manufacturer and Tools Manufacturer
Problem:
Two responsible parties liable for previous contamination desired certainty to
cleanup costs agreed to in settlement agreement.
Risks:
Cost Overrun risk from remediation project at previously owned vacant plant
site. Third party claims for bodily injury and property damage, and discovery of
additional contamination at the site.
Solution:
A 5-year, $5,000,000 Cost Cap and Pollution Legal Liability policy placed to
Capital Program that covered the cleanup of any additional contamination
discovered, third party bodily injury and property damage claims.
CASE STUDIES
Client:
Chemical Company
Problem:
Toxic Tort risks from donation to city of previously owned vacant plant site that
was to become a park.
Risks:
Third party claims for bodily injury and property damage, and discovery of
additional contamination at the site.
Solution:
A 10-year, $10,000,000 Pollution Legal Liability policy covered the cleanup of
any additional contamination discovered, third party bodily injury and property
damage claims.
CASE STUDIES
Client:
Developer of Town Landfill
Problem:
Developer and Town sought to develop the Town Landfill for retail, commercial
and hospitality uses.
Risks:
Cost overruns due to discovery of unknown contamination when closing landfill,
and third party claims for bodily injury and property damage past closure.
Solution:
A 5 year, $10,000,000 Cost Cap and Pollution Liability policy was placed to
cover third party liabilities, cleanup of unknown contamination, and any claims
associated with non-owned disposal sites.
CASE STUDIES
Client:
Developer
Problem:
Lender requiring Buyer indemnity for environmental conditions at site.
Risks:
Discovery of contamination requiring cleanup and/or resulting in third party
bodily injuries or property damage.
Solution:
The property, a 44 acre former defense plant, was insured with a 10-year,
$50,000,000 Pollution Legal Liability policy that covered the cleanup of any preexisting contamination and any third party bodily injuries or property damage.
CASE STUDIES
Client:
Developer
Problem:
Potential Pre-existing contamination at residential/commercial development
project.
Risks:
Cleanup as result of regulatory audit, third party claims, and discovery of
additional contamination as the development continued.
Solution:
The project was insured with a 5-year, $10,000,000 Pollution Legal Liability
policy that covered the cleanup of any pre-existing contamination any third
party bodily injuries or property damage. Lenders named as additional insured.
CASE STUDIES
Client:
College
Problem:
College expanding facilities to include former gas station property.
Risks:
Potential Discovery of unknown contamination, third party bodily injury and
property damage.
Solution:
The project was insured with a 5-year, $1,000,000 policy to cover third party
liabilities and cleanup of unknown contamination.
CASE STUDIES
Client:
Community Development Agency
Problem:
Purchase of land with existing contamination.
Risks:
Discovery of unknown contamination, third party bodily injury and property
damage.
Solution:
The project was insured with a 5-year, $1,000,000 Pollution Legal Liability
policy to cover third party liabilities, cleanup of unknown contamination, costs in
excess of the estimated known contamination and any claims associated with
non-owned disposal sites.
CASE STUDIES
Client:
Private Firm
Problem:
Firm wanted to sell property located adjacent to Superfund Site.
Risks:
Discovery of unknown contamination, third party bodily injury and property
damage.
Solution:
The project was insured with a 5-year, $7,500,000 Pollution Legal Liability
policy to cover third party liabilities and cleanup of unknown contamination.
CASE STUDIES
Client:
Government Authority
Problem:
Underground excavation in relation to tunnel project..
Risks:
Discovery of unknown contamination, third party bodily injury and property
damage.
Solution:
A 6 year, $5,000,000 Pollution Liability policy was placed to cover third party
liabilities, cleanup of unknown contamination, and any claims associated with
non-owned disposal sites.
CASE STUDIES
Client:
Landfill Owner
Problem:
Owner and Town need protection against post closure pollution claims.
Risks:
Discovery of unknown contamination, third party bodily injury and property
damage.
Solution:
A 10-year, $10,000,000 Pollution Liability policy was placed to cover third party
liabilities, cleanup of unknown contamination, and any claims associated with
non-owned disposal sites.
CASE STUDIES
Client:
Real Estate Investment Trust (REIT)
Problem:
REIT required Pollution Liability Insurance to protect against claims stemming
from new pollution conditions and to satisfy lenders.
Risks:
Mold and Terrorist attacks using Chemical, Biological Nuclear and Radioactive
materials.
Solution:
A 5-year, $30,000 Pollution Liability policy was placed to cover first and third
party liabilities, mold business interruption and pollution as a result of Terrorism.
Mike Long BIO
Mike Long has over 25 years experience in the hazardous waste and
wastewater treatment sectors of the environmental industry. He has
extensive experience in the areas of site cleanup, hazardous waste
storage and disposal, environmental regulation and insurance. He works
exclusively on analyzing environmental risks of company operations,
mergers and acquisitions and real estate transactions. Mr. Long received
his B.A. from the University of California, Berkeley, and has a Masters
Degree from the John F. Kennedy School of Government, at Harvard
University. Mike Long can be reached at (617) 204-6710 or email him at
mlong@WGAins.com.