Many of us in the environmental insurance marketplace are experiencing something that we have never experienced before - a true hardening of the market.  Over the past 6 months we have seen many, if not all, carriers who offer "environmental casualty" insurance (commercial general liability, business auto, umbrella/excess, contractors pollution and contractors professional liability) make, in some cases, dramatic changes to their programs to prevent further deterioration of their book of business.  Actions taken by these carriers include: 

• Reducing the umbrella/excess limits
• Increasing some rates by as much as 200%
• Re-defining the definition of  "environmental services"
• Applying exclusionary language for third-party action-over claims

Insurance carriers in this space are beginning to take action and it appears that we are just seeing the initial underwriting actions being taken.  Compounding the issue is the lack of quality mono-line workers compensation carriers that are willing to offer coverage for Environmental Firms when those carriers providing the liability lines cannot.  Although there are nearly 20 carriers offering these "environmental package" programs, few have the ability to offer the workers compensation.

At New Day, we have access to most of the carriers offering "environmental package" programs including those carriers with the capability to add workers compensation.  Whether it's a combined commercial general liability, contractors pollution and professional liability or separate programs, New Day can assist you in maneuvering through this difficult segment of the market.  By combining our expertise with our retail broker clients we can ensure our efforts result in securing the optimal solution for the insured.

For more information about Environmental Package programs for environmental firms, contact Jeff Slivka at 609.298.3516 ext. 102 or jeff.slivka@newdayunderwriting.com.  We look forward to the opportunity to discuss how our extensive risk management expertise can help ensure that you are offering your clients the protection they need to guarantee the livelihood of their business.