I agree with Ken and Barry, although Len has raised legitimate concerns
that the risks involved in brownfields redevelopment projects are not
always properly managed. I would like to focus on the comment that
developers might create a situation that would open up a vapor intrusion pathway
"perhaps with the help of their insurance companies." Insurance
companies can prevent this from happening by covering and properly underwriting
the risk that institutional controls for contamination left in place may
fail. The comment presumes that contamination will have been left in place
which, if disturbed, would open up a pathway. Contamination left in
place should be subject to institutional controls, but those controls can fail
if they are not properly implemented, monitored, maintained, and
enforced. This is a real risk which a lot of people, including most
environmental underwriters, do not understand. However, there is
insurance coverage for the risk, which can be obtained if the IC's are
properly implemented, etc. The proper management of brownfields risk should
include at least considering this option in addition to the usual environmental
coverages.
Sue
Susan Neuman,
Esq., Ph.D. Environmental Insurance Agency, Inc. 4 New King St. White
Plains, NY 10604 914-328-6800 (phone) 914-328-6811 (fax) www.enviroinsurance.com
|
_______________________________________________
Brownfields mailing list
Brownfields@list.cpeo.org
http://www.cpeo.org/mailman/listinfo/brownfields
|