Compliance Week (06/15/10), Thompson, Louis M. In order to examine risk assessment in general, one must see how companies have developed their risk-assessment process. Most tend to follow legal and regulatory requirements relevant to their industry and standards from the Sarbanes-Oxley Act.  Risk assessment has evolved to a large number of people with responsibility having the […]

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 […]

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 […]

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 […]

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 […]

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, […]

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. […]

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 […]

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 […]

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. […]

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 […]

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 […]