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RT ECP News Center

July 21, 2010

XL Policy for BIM Coverage

Contractors are increasingly using Building Information Modeling (BIM) to generate and manage building data during a building’s life cycle.   BIM uses three-dimensional, real-time dynamic building modeling software to produce a computer model, essentially constructing a virtual building before mobilizing to a construction site.  This can save both time and money by detecting and correcting conflicts early.  XL’s […]

July 20, 2010

XL Presents Fuel Leak Claim Example

XL Insurance’s insured, a mechanical contractor, was retained as a subcontractor during construction of a medical center.  The insured subcontracted the underground storage tank (UST) installation, fuel line connections to the existing building, and associated engineering work to another contractor.  Part of that subcontracted work included removal of soil that was initially placed over the […]

July 19, 2010

XL Offers Pollution Coverage for Construction Clients

Fast quotes and easy renewal certificates are just two of the benefits your construction clients may realize with a Contractor’s Pollution Liability Policy from XL Insurance.  XL offers protection for your construction clients with $25 million or less in revenue from costly mold claims and other pollution losses quickly and more efficiently.  XL’s streamlined approach features: 24-hour […]

July 15, 2010

"Oilicane" in the Gulf?

As we continue to watch the environmental disaster unfold in the Gulf of Mexico, the final impact to the environment, property, and human health has not even begun to unfold.  According to Advisen,  as of July 9, 2010, 13 organizations including BP plc, Transocean, Andarko Petroleum, Cameron, and Halliburton, are named in loss events in […]

July 14, 2010

Renewal Time Crunch

New Day’s broker partner won a large chemical manufacturer/blender account several weeks before renewal. The challenge was to renew a manuscripted site pollution liability policy that included cost cap coverage for a remediation site. With time a concern, New Day conducted a detailed review of the coverages and the remediation project. Working with the carrier, […]

July 14, 2010

New Day and Broker Help Consolidate and Standardize Contractor Coverage

New Day’s broker partner was competing for new business that involved a large contractor consisting of a few entities that had merged through the years. The expiring coverage was a hodge-podge of mono-line professional liability for one entity, combined pollution/ professional coverage for another entity, and neither professional nor pollution coverage for the last entity. […]

July 12, 2010

Home Builder Ordered to Pay to Resolve Clean Water Act Violations

A nationally recognized home builder was recently fined $1 million in Clean Water Act violations at nearly 600 construction sites in 18 states and the District of Columbia. The company was also ordered to implement a stormwater compliance program to improve their “compliance with stormwater run-off requirements at existing and future construction sites.  (Source: http://washington.bizjournals.com) The […]

July 12, 2010

Residents Sue Over Chemical Spill

Three residents of a Louisville, Kentucky neighborhood recently sued when a chemical spill caused vapors to travel through sewer pipes. The claimants are seeking class action status, which would cover anyone in a 1.6 mile area near the plant. At the time of the incident, it was estimated that up to 50 homes were affected […]

July 12, 2010

Jury Awards $400K in Lawsuit Centered on MTBE Leak

A group of four families in the Baltimore, Maryland area were recently awarded almost $400 thousand to be paid by an oil company that a jury has held responsible for “polluting water wells with a hazardous gasoline additive.” Methyl tertiary butyl ether (MTBE), the additive found in the wells, is suspected to be a carcinogen. […]

July 9, 2010

New Day Places Coverage for Petroleum Tank Farm

New Day was working with a broker partner who had taken over a placement on a large petroleum product tank farm. At the time that New Day became involved there were two policies in place – the primary and the excess. New Day was tasked with placing the excess portion. Located in a waterway in […]

July 9, 2010

New Day Places OCIP for Chinese Drywall Contaminated Condo

New Day Underwriting Managers was retained by the retail broker for its expertise in construction and remediation to place a project-specific Owner’s-Controlled Insurance Program (OCIP) for a luxury condominium project that contained contaminated Chinese drywall.  An intensive marketing effort was conducted to secure the desired coverage. A number of carriers declined this coverage due to […]

July 9, 2010

New Day Announces Update to Chartis PLL Select Policy Form

Chartis Environmental has introduced the first significant update to its Pollution Legal Liability (PLL) Select Policy Form in six years.  This form may be used with a wide variety of industrial, commercial, and habitational real estate risks.  The updated form provides coverage flexibility by offering a menu of coverage options that can be selected by the insured including […]

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