[CPEO-MEF] Env. Insurance Helps Contain Cleanup Costs At Ft. Gordon

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Environmental Insurance Helps Contain Cleanup Costs At Georgia's Fort 
Gordon, Reports XL Environmental 
5/6/02 12:27 PM
Source: Business Wire  

EXTON, Pa.--(BUSINESS WIRE)--May 6, 2002--To contain the cost of a 
regulatory cleanup at Georgia's Fort Gordon, an environmental insurance 
program is providing an essential financial cushion in an innovative, 
fixed-cost remediation agreement. XL Environmental, Inc., an XL Capital 
company and one of the nation's leading producers of environmental 
insurance, designed the program exclusively for ARCADIS, a global 
environmental service provider, and its Guaranteed Fixed Price for 
Closure Remediation Program (GRiP(TM)). 
ARCADIS was awarded a $19.4 million contract to provide services under 
its GRiP(TM) program in the cleanup of some 26 solid waste management 
units, including landfills, former maintenance shops, waste storage and 
disposal areas and drainage structures, scheduled for closure at Fort 
Gordon. This is the first time that the GRiP(TM) program is being used 
at an active military base. The U.S. Army Training and Doctrine Command 
initiated this pilot project to evaluate a new government contract 
approach to environmental cleanup. 

For one fixed price, ARCADIS' program provides all investigation, 
remediation, and regulatory services or oversight that will be necessary 
in the facilities' closure. XL Environmental designed the GRiP Stop Loss 
insurance program to offer ARCADIS protection against potential cost 
overruns that may occur in the process. 

According to Bob Hallenbeck, senior vice president of government affairs 
for XL Environmental, "The potential of uncovering additional 
contamination or running up against other unanticipated complications 
could send environmental cleanup costs skyrocketing and then the 
question is -- where will that extra money come from?" 

This story can be viewed in its entirety at:
http://investor.cnet.com/investor/news/newsitem/0-9900-1028-9847729-0.html

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