Source: http://www.swissre.com Every risk manager wants to ensure that their company is protected from large claims, such as punitive damages, where claim values can be significant and highly variable. These awards can pose a catastrophic threat to the solvency of any corporation, and they’ve recently become more commonplace and excessive. As the name suggests, punitive […]

Source: http://www.aig.co.uk, Winter 2015 By: Stuart Sutherland As the recent bursting of a tailing dam owned by Brazilian mining joint venture Samarco unfortunately demonstrates, environmental pollution continues to be a major source of  concern for the (re)insurance market. Samarco, a 50/50 joint venture between BHP Billiton and Brazilian mining operator Vale, has already been fined […]

Source: Newsday (Melville, NY), January 10, 2016 Posted on: http://www.advisen.com State environmental officials have told the Town of Islip to cover the soccer field at Roberto Clemente Park with clean soil and create a plan to monitor for air and water pollution after an old landfill was discovered under the field during the cleanup of […]

Source: http://www.twincities.com, January 8, 2016 By: Sarah Horner Two St. Paul projects will get a little help from the Minnesota Department of Employment and Economic Development. The redevelopment projects are among 14 statewide that will collectively receive $6.2 million in investigation and cleanup grant funding in 2016 from the state agency, according to information released […]

Source: http://www.startribune.com, January 8, 2016 By: Erin Golden Money will help fund cleanup on Minneapolis sites being turned into offices and more. Six Minneapolis development projects are set to get a combined $1.8 million in state funding for environmental investigation and cleanup work. The projects were selected, along with a dozen others around the state, […]

Source: http://www.newrochelletalk.com, January 11, 2016 NEW ROCHELLE, NY — The New York State Department of Environmental Conservation (NYSDEC) is reviewing the Remedial Investigation Report for the Schmuckler’s Dry Cleaners site located at 358-364 North Avenue, New Rochelle, Westchester County. NYSDEC is reviewing the “Remedial Investigation Report” that was submitted by HNJ Realty. The report describes […]

Source: http://www.unionleader.com, January 7, 2016 By: Kimberley Haas Residents in the town of Barrington are concerned after more asbestos than expected was found during the demolition of the old town hall.The board of selectmen will meet Monday to discuss their options on disposing the hazardous material. A meeting Thursday night did not produce any action […]

Source: http://www.lexology.com, January 4, 2016 By: Hunton & Williams LLP Real estate professionals, owners, managers, investors and lenders, as well as anyone else involved in today’s real estate market, face a variety of risks of loss. Here are ten ways insurance can help mitigate potential liabilities.1 Additional Insured Coverages. Real estate transactions are complex, with […]

Source: http://www.irmi.com, October 2015 By: Jeff Slivka, New Day Underwriting Managers LLC Professional liability risk is inherent in nearly every stage of the construction process and throughout every project delivery method. To identify it, you just have to know what you are looking for. When specifically looking at the Construction Manager—At Risk (CMAR) delivery method, […]

Source: http://triblive.com, January 7, 2015 By: Jacob Tierney Orange and green hues from manganese that have tainted drinking water in the Beaver Run Reservoir will be erased as a result of a proposed project to clean up a long-abandoned coal mine in Salem. The Municipal Authority of Westmoreland County project is expected to start in […]

Source: http://liherald.com, January 7, 2016 By: Joseph Kellard Nu-Clear Dry added to registry of contaminated sites A longtime Long Beach dry-cleaning business is working to clean up contamination from compounds that leaked from the property’s facility and landed it on a registry of statewide sites deemed substantially hazardous. Nu-Clear Dry Cleaners, at 180 E. Park […]

Source: http://www.constructionbusinessowner.com By: Elizabeth Manning New Day Underwriting shares insight into underwriting and risk exposures in the construction industry Jeff Slivka recently took leadership of New Day Underwriting Managers as the company’s new president. Slivka helped launch the company in 2005 and has since grown into an award-winning, specialty intermediary of environmental and construction-related professional liability insurance […]