2005 CPEO Brownfields List Archive

From: SusanNeumanEsq@aol.com
Date: 11 Feb 2005 16:02:33 -0000
Reply: cpeo-brownfields
Subject: Re: [CPEO-BIF] Vapor Intrusion and Redevelopment (Lenny Siegel)
 
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
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