Product Highlight - General Liability, Contractors Pollution Liability and Professional Liability
 Environmental consultants and contractors have several choices for combined general liability, contractor's pollution and professional liability. The insurance market once limited to two insurers is now offered by over a half dozen insurers. The environmental package allows contractors to streamline risk and eliminate potential coverage gaps between general liability, pollution and professional exposures. The combined approach also streamlines the claim process as all the coverage is handled by one insurer.
Read more.
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EPA Releases Revised SPCC Guidance for Regional Inspectors
 In August, the U.S. Environmental Protection Agency (EPA)released its revised SPCC Guidance for Regional Inspectors to assist regional inspectors in reviewing a site's compliance with the federal Spill Prevention, Control and Countermeasure (SPCC) rule. This document is intended to provide a consistent national policy on SPCC-related issues and spells out how the EPA intends the SPCC rule to be implemented nationwide. The revised document can be found here.
To learn more about the SPCC program read this fact sheet provided by the AGC of America.
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Employee Spotlight - Stacy Burrows
 Over the past year New Day has added several new employees to its staff. So, in each issue of the New Day Standard, we will highlight a different new employee. This quarter, we invite you to meet and get to know Stacy Burrows, Accounting and Underwriting Support Analyst.
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Risk Tip
 During a Real Estate transaction, especially for a contaminated or Brownfield Site, often the purchaser of the asset relies too heavily on an Environmental Indemnity that is provided by the Seller to pacify the legacy environmental liability issues associated with the site. Too often, however, the Environmental Indemnity has limitations including "sunset" provisions, "sliding-scale" liabilities and specific exceptions. If the purchaser accepts these terms, they may expose themselves to significant legacy environmental exposures that may have an unintended impact on their balance sheet. A Pollution Legal Liability (PLL) Policy can be designed to address these "gaps" left by the indemnification language by sitting in excess of and "difference in condition" around the language. Coverage can also be crafted to allow the PLL policy to step in if the Indemnitor fails to perform its obligations under the Indemnification Agreement.
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Success Stories
New Day often likes to share success stories to demonstrate our expertise in negotiating policies for our broker partners including reduced premium, increased coverage terms, or possibly different coverages than what were previously held by an insured but really necessary in presenting a truly optimal solution to meeting their risk management needs. Read more about each by clicking their title.
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Are You Using the New Day Blog?
Claims examples, industry articles, carrier news, and success stories. Do you often find yourself searching for this type of information to share with your clients? Allow New Day to do the searching for you. The New Day Blog is your one stop source for industry news and information. Using a drop down menu, you can easily select the type of information you are looking for right down to the specific type of claim example (i.e., Pollution Legal Liability, Commercial Real Estate). Or, you can use the search bar to do a keyword search to find any entries using your specified keyword(s).
To the best of my knowledge there is nobody in the environmental field that provides this type of information for the benefit of all end users. You all should be resoundingly applauded for your continued commitment to the education of brokers, clients and even insurers! John McGovern
We hope you will will join us and subscribe to the New Day blog today. Just click the "Sign Me Up" button on the right side of the page under Email Subscription. Once you subscribe be sure to manage your subscription and select "Weekly" for updates so that you only receive blog updates from us once per week.
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New Day Underwriting Managers LLC
33 Third Street, Suite 201, Bordentown, NJ 08505
Tel: 609 298-3516 Fax: 609 298-6254
     
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