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Environmental Risk Management


An industrial manufacturing company was divesting several facilities and, as part of the property transactions, promised to indemnify the purchasers of any environmental liabilities associated with the historical operations. The company required sufficient information to evaluate whether it should self-insure the properties or if it should purchase an environmental insurance policy to transfer the potential environmental risks.


The company retained Premier to evaluate the potential environmental risks at the properties and prepare: 1) a Baseline Site Characterization, and 2) an Environmental Risk Profile.


Premier prepared both the Baseline Site Characterization and Environmental Risk Profile for each property so the company could better evaluate its risk management options for each facility. The Baseline Site Characterization detailed the necessary scope of work and associated cost to collect and analyze environmental samples that would identify potential environmental liabilities associated with historical operations. This information would serve as the baseline conditions if the company decided to self-insure the property, and the cost to implement the scope of work would serve as the basis to evaluate the cost of environmental insurance.

The Environmental Risk Profile document summarized the historical operations and presented potential loss scenarios due to potential environmental risks. The Environmental Risk Profile provided the necessary information, including a Liability Risk Rating, for environmental underwriters to price a policy that would cover potential environmental risks associated with the property.

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