Our Environmental and Risk Management Practice

In addition to the resources below, we invite you to explore the full capabilities of Shipman's Environmental Practice, where our environmental attorneys help clients navigate environmental compliance, transactions, remediation, enforcement and risk management. You can also visit our Environmental Insights page for the latest client alerts, articles and publications on environmental law, regulatory developments and emerging trends.

About Shipman
With more than 160 lawyers practicing from offices in Connecticut, Massachusetts and New York, Shipman & Goodwin LLP has regional and national experience in a wide array of industry sectors, including manufacturing, education, emerging and middle market companies, financial services, franchising, government, health care, not-for-profits, petroleum marketing, real estate development, construction, environmental, energy, land use, retail, software and IT and utilities. We regularly represent clients throughout the northeast, nationally and internationally.

We are committed to our clients, to understanding their needs and priorities, and to producing practical and effective solutions to their legal problems. Our firm is large and diverse enough to handle the most sophisticated legal work, yet small enough that each client is important. Our long-standing relationships are a matter of great pride, and we strive to achieve an ongoing role of trusted counselor and business partner. In addition, Shipman & Goodwin is committed to diversity, equity and inclusiveness within the firm, the legal profession and the community. We value the unique backgrounds and distinct contributions of all individuals; our deep commitment is reflected in our efforts to promote understanding, advancement and empowerment.

Our Environmental and Risk Management Practice

We have significant experience nationally working with buyers, sellers, developers, lenders/investors, municipalities/public agencies and consulting/engineering firms to develop and utilize environmental insurance and other risk management strategies to creatively manage known and unknown environmental concerns and close transactions, including those involving contaminated properties (“brownfields”). We regularly work with private and public clients of all sizes and from various business sectors, including real estate, finance/lending, corporate, energy, insurance and manufacturing, to design, negotiate and implement bespoke environmental insurance policies to meet the particular needs of the client, the relevant site(s) and the transaction.

Many of our engagements have been for high profile national matters, such as the cleanup, sale and redevelopment of: Adriaen’s Landing and Rentschler Field in Hartford, CT; the former UConn West Hartford, CT campus; the former Exide Battery manufacturing site and the adjacent Mill River in Fairfield, CT; the Con Edison First Avenue properties in New York City; lower Manhattan for the Lower Manhattan Development Corp. following the events of September 11th, 2001; the former Procter & Gamble/Clairol facility in Stamford, CT and the Union Pacific Sacramento, CA rail yard. We have been involved in developing, negotiating and implementing scores of environmental insurance programs – from single-site policies to umbrella policies that cover multiple properties (including for real estate investment trusts (REITs) with hundreds and even thousands of properties). We work with the major environmental insurance underwriters, have excellent contacts at all levels and have developed pre-negotiated environmental insurance policy forms and endorsements with enhanced coverages and insured-favored language that are used as our starting point on all deals. We have even worked directly with insurers on developing new environmental insurance products (e.g., to address emerging issues, such as mold, mining operations and climate change-related risks) and on defending large, complex third-party claims on behalf of their insureds. We also work extensively with several of the large, national and international insurance brokers as well as small, regional environmental insurance specialty brokers.

While environmental risks and liabilities can be daunting, they are almost always manageable when approached creatively. Under the right circumstances and with the right team, environmental insurance can be a useful tool to help manage environmental risks and liabilities, and bridge the gap in risk allocation. Environmental insurance can be employed with great success to address environmental risks in a variety of business contexts, including: real estate purchase/sale and lease transactions; brownfield cleanups and redevelopment; corporate mergers and acquisitions/divestitures; balance sheet management; corporate insurance restructuring; and resolution of responsible parties’ liabilities at contaminated sites.

We recognize that environmental insurance is not necessary, or even available (or cost effective), for every situation (such as when the expected cleanup cost is small and/or well-defined, or the cost of the policy premium is disproportionate to the value of the deal). The key is to identify environmental risks at the earliest stage possible, and then craft solutions tailored specifically to the client’s business priorities. The goal is to maximize the array of environmental insurance products available for the benefit of clients and tailor those products to the specifics of the deal and the client’s particular level
of risk tolerance using manuscripted (i.e., negotiated) policy forms and endorsements.

Our approach is to integrate our legal services with a client’s risk management team. We recognize that an environmental insurance policy is a legal document – a contract – and can (and should) be tailored to the specifics of the matter or transaction and the underlying cleanup or other environmental risks, just like any other deal document. We have repeatedly found that standard/specimen “off-the-shelf” policies do not afford the appropriate coverage nor are they designed to specifically integrate with the relevant underlying deal documents (Purchase and Sale Agreements (PSAs), leases, loan/investment documents, etc.); as such, use of any such generic policies should be avoided. It is essential to provide “customization” and minimize/eliminate the holes -- our motto is: “swiss is bliss, but cheddar is better” when it comes to negotiating environmental insurance programs.

However, we don’t supplant in-house risk managers or insurance brokers – we supplement their work. The development and implementation of an environmental insurance program demands a team approach, and our role is to add our legal expertise and experience as we move along the path from specification development, policy and endorsement manuscripting (i.e., customization) and negotiation (typically with the insurer’s in-house counsel), and post-binding implementation and claims management. Brokers have a different billing structure (i.e., commission typically included in the policy premium vs. an hourly billing structure) and thus we try to ensure that all tasks are cost-effectively allocated among the insurance team members so that we can focus on adding value to those aspects of the policy development and negotiation that warrant our skills and experience.

The relevant types of environmental insurance policies include: pollution legal liability (PLL); secured creditor; cleanup cost cap/stop loss; representations and warranties (including environmental) and contractor’s pollution (or any combination thereof). Environmental insurance policies, if properly structured, can be written to cover a broad spectrum of potential exposures, including property damage and bodily injury (i.e., “toxic tort” coverages); cleanup obligations; natural resource damages; liability associated with transportation and disposal of hazardous wastes/substances; project delays and business interruption; loss of collateral value; contract liability; and legal defense costs. Environmental insurance can also be used in certain circumstances to cap remediation costs and/or provide long-term (e.g., 10 years) third-party liability protection at a single site or for a portfolio of impacted properties across one or many states in favor of a single entity, lenders/investors, all parties to a transaction, or a group of potentially responsible parties (PRPs).

We also have significant experience evaluating, developing and negotiating environmental risk/liability transfers when they are technically feasible and cost-effective. An environmental risk/liability transfer is a risk-allocation strategy that allows for the contractual resolution of environmental liabilities that may be associated with the conditions of a property, or a portfolio of properties. Applied properly, a risk/liability transfer can function to “take environmental issues off the table.” As the name suggests, a risk/liability transfer involves the contractual transfer of some or all liabilities associated with pre-existing environmental conditions (e.g., third-party toxic tort liabilities, cleanup obligations) at a site or portfolio of sites to a third-party contractor/insurer team. Such transfer may be pre-funded and/or supported with a “guaranteed-fixed price” (or “aligned interest”) remediation contract and scope of work backed by a parent-level indemnity from the environmental contractor/engineering firm, as well as a long-term (e.g., 10 years) comprehensive environmental insurance policy (including cost cap/stop loss where available) from a financially secure insurer. In some instances, the environmental contractor will enter into a cleanup consent order or voluntary cleanup program with the relevant environmental regulatory agency to guarantee its obligations to the regulators. It is important to recognize that each environmental risk/liability transfer is negotiated extensively to align the interests of the parties and importantly meet a client’s goals for the specific risks associated with the particular site(s) involved in the deal.

Representative Experience

The following provides examples of representative real estate, financing, corporate and energy matters where we assisted clients with the development and implementation of environmental insurance and risk management solutions to effectively allocate and manage known and unknown environmental risks.

Real Estate Developer
Negotiated a comprehensive owner controlled environmental insurance program for the Adriaen’s Landing mixed-use economic development project and major sports and entertainment venue in Hartford, CT. The program consisted of a PLL policy with a $50MM limit of liability (LOL) and an umbrella policy with a $25MM LOL, with manuscripted coverages tailored to the site owner and some prior owners for on and off site historic conditions and post-construction occupation of the site.

Real Estate Developer
Represented real estate development firm in the $20MM acquisition of a 33-acre Stamford, CT campus of Procter & Gamble’s former hair care products manufacturing facility for purposes of commercial and residential redevelopment. Drafted and negotiated transaction documents allocating liability for, and remediation of, historic contamination and parameters of permitted redevelopment activities. Developed and manuscripted a comprehensive 10-year PLL program ($25MM LOL) to backstop contractual indemnification obligations. The site is now the broadcast center for NBC Universal Sports and home to Chelsea Piers Connecticut.

Real Estate Developer/Investment Firm
Represented a national real estate developer/investment firm in its bid for the acquisition, remediation and
redevelopment of a multi-parcel contaminated former State facility in Connecticut into a large-scale, mixed-use project. Designed and negotiated with insurer pre-bid aspects of a proposed integrated cleanup cost cap and PLL insurance program with combined LOL of approximately $100MM.

Real Estate Developer/National Engineering/Environmental Consulting Firm
Represented joint venture real estate developer and national engineering/environmental consulting firm in potential purchase, guaranteed fixed-price cleanup and redevelopment of numerous former wood-treating facilities in multiple states. Drafted and negotiated the risk-transfer agreement, environmental services contract/scope of work, and environmental insurance program on behalf of clients.

Real Estate Developer
Represented real estate developer in acquisition and development of blighted upstate New York site under the New York State Department of Environmental Conservation (NYSDEC) Brownfield Cleanup Program, including oversight of remediation to achieve a Certificate of Completion, drafted environmental provisions of the PSA for post-remediation acquisition of real estate, and negotiated the lease with a prospective shopping center tenant. In conjunction with the lease, negotiated a 10-year PLL policy with a $7MM LOL, insuring owner and tenant, which included coverage for regulatory reopeners of the cleanup (i.e., where an agency reopens a “closed” investigation/remediation obligation).

Full-Service Distribution Company
Represented tenant/buyer of an industrial warehouse in upstate New York with known historic onsite environmental contamination related to operations of a former manufacturing tenant (Xerox). In connection with the sale of the property, and in order to secure financing, negotiated and manuscripted a 10-year PLL policy with $15MM LOL. Policy protects client/new owner (and its lender) against unknown pollution conditions and backstops indemnity from former landlord/seller (pursuant to the PSA) and Xerox (pursuant to Access Agreement, which was assigned to client/new owner) related to known pollution conditions and ongoing investigation and remediation obligations.

Public/Quasi-Public Entities
Represented a not-for-profit corporation formed by various New York state entities to facilitate the construction of a nanotechnology and semiconductor research, development and manufacturing facility in a university-industry-government partnership. Conducted environmental due diligence efforts and negotiated related transaction documents. Developed and manuscripted a comprehensive 15-year PLL program with $15MM LOL covering multiple parcels (totaling over 375 acres) owned by various state/private entities.

Public/Quasi-Public Entities
Represented a quasi-governmental redevelopment authority formed to contribute to the redevelopment of Ground Zero in New York City in the purchase and planned deconstruction of a building significantly damaged by the events of 9/11. Negotiated and drafted aspects of the acquisition agreement for the property and the related PLL and excess environmental insurance policies (combined LOL of $175MM) to integrate with the acquisition agreement and cover cleanup obligations and third-party bodily injury and property damage claims related to “World Trade Center dust.” Drafted and negotiated related side-agreements and developed and trained client’s staff on environmental claims management and reporting protocols.

Public/Quasi-Public Entities
Represented a quasi-governmental redevelopment agency formed to redevelop brownfield sites in Waterbury, CT as part of a revitalization program, in the development of an arts and education magnet school, parking garage and downtown UConn campus. Addressed significant deal structuring issues to accommodate state funding obligations on both sides of the sale transaction while negotiating, drafting and integrating an environmental cleanup program and an environmental insurance program ($33MM in combined LOL) for cleanup cost overruns, other cleanup costs, and third-party bodily injury and property damage claims.

Public/Quasi-Public Entities
Represented a large public university to sell a satellite campus property, including buildings and soils impacted by polychlorinated biphenyls (PCBs). Negotiated terms of environmental insurance in the PSA. Subsequently manuscripted and secured a 10-year PLL insurance program with a $20MM LOL to cover seller from unknown environmental conditions and from third-party bodily injury/property damage claims involving known conditions.

Traditional (Bank) Lenders
Represented bank in connection with loan financing and related environmental issues. Borrower purchased medical office building on historically contaminated industrial/commercial property in Connecticut (former felt manufacturing site). Negotiated: (1) premises environmental liability (PEL) policy; and (2) secured creditor environmental insurance policy. Negotiated terms and conditions of both policies to fit the deal and best protect the interests of the bank as a secured lender. PEL policy was a 10-year policy (covering pre-existing and new conditions) with $10MM LOL and $50K deductible/self-insured retention (SIR). Bank was an Additional Named Insured. Secured creditor policy was a 5-year policy with a $9.5MM LOL to cover term of loan and loan amount (plus “extra expenses”).

Represented bank with respect to environmental issues associated with loan financing deal. Borrower’s property/collateral undergoing active remediation by former owner under Connecticut Transfer Act and RCRA Corrective Action to address contamination related to former on-site manufacturing activities. Negotiated secured creditor environmental insurance policy to protect lender from risks associated with borrower’s default due to known/unknown environmental conditions. Secured 6-year policy with a $3.1MM LOL to cover term and loan amount. If triggered, policy pays lesser of cleanup cost or balance of loan. Premium on policy was < 1.5% of LOL and premium and all transaction costs paid for by borrower.

Represented bank in connection with loan financing and related environmental issues. Borrower purchased three adjoining historically contaminated industrial/commercial parcels in Connecticut for a mixed use commercial/retail development. Negotiated PLL policy to protect the bank. The PLL covered the bank for all new environmental conditions and, more importantly, covered the bank for existing/known environmental conditions (remediation, bodily injury and property damage claims) in the event of a borrower default. The PLL policy was for 10 years with a $2.5MM LOL and $50K SIR.

Successfully guided a national bank client to procure and bind a customized environmental insurance program in connection with the bank’s $28+ MM construction loan for its borrower in California. The loan’s collateral property involved a former industrial site near Los Angeles International Airport, slated for redevelopment into a world-class office headquarters for a major, Fortune 10 technology tenant. The environmental insurance program consisted of a bespoke “secured creditor” base policy with a $10MM LOL and an “excess” layer from another insurer with over $18MM LOL to protect the bank in case the borrower defaults on loan payments due to a pollution condition.

Represented bank in connection with two loans and related environmental issues. Borrower’s property was undergoing active remediation under Connecticut Transfer Act to address contamination related to former on-site drycleaning activities including PFAS. Successfully bound a secured creditor policy that covered both loans for $12.1M and 1.9M. The policy term was three years to match the loan term and provided $15MM LOL and $50k SIR. The policy has no PFAS exclusion, despite known sampling being required and covered the bank for known environmental conditions (remediation, bodily injury and property damage claims) in the event of a borrower default.

Represented bank in connection with a $43.750MM loan in connection with borrower’s acquisition of a shopping plaza with known dry cleaning impacts. The environmental insurance program consisted of a bespoke “secured creditor” base policy with a $25MM LOL and an “excess” layer from another insurer with over $18MM LOL to protect the bank in case the borrower defaults on loan payments due to a pollution condition. The term for each policy is five years to match the loan term.

Private Institutional Lender
Represented life insurance company investment team with respect to environmental issues associated with loan financing deal. Borrower’s property/collateral on NY state Superfund List (former dry cleaner on site). Negotiated secured creditor environmental insurance policy to protect lender from risks associated with borrower’s default due to known/unknown environmental condition. Secured 10-year policy with a $6MM LOL to cover term and loan amount. If triggered, policy pays lesser of cleanup cost or balance of loan. Premium on policy was < 1% of the LOL and paid for by borrower.

Real Estate Developers and Lender
Represented joint venture of real estate developers with respect to loan financing of purchase of New Jersey
shopping center with contamination from former on-site activities. Negotiated PLL policy protecting joint venture and its lender, including coverage for the lender for bodily injury, property damage and cleanup costs arising from both unknown and known on-site contamination. Policy had a $5MM LOL and 7.5-year term (to match term of loan). Premium on policy was approximately 1.5% of the LOL and paid for by joint venture.

Major Utility/Energy Company
Represented client in the sale of 9.5 acres of a historically contaminated utility/industrial property in downtown Manhattan for the purpose of residential and commercial redevelopment. Drafted and negotiated a risk transfer/guaranteed fixed-priced abatement/demolition, decommissioning and remediation contract (in excess of $100MM) with an environmental engineering firm for the long-term assumption of responsibility and certain liability associated with the physical and environmental conditions of the property, including all environmental work to be completed by certain deadlines under a negotiated voluntary consent order with NYSDEC executed by the engineering firm. Drafted and negotiated a 30-year cost cap and PLL (pre-existing and new conditions) policy (with combined LOL of $295MM).

Represented utility in the grant of an easement on a portion of its 88-acre historically contaminated property in Yonkers, NY to a commercial developer for the purpose of constructing an access road. Negotiated and drafted a manuscripted 10-year PLL policy ($25MM LOL) covering third-party bodily injury and property damage claims and cleanup obligations triggered as a result of the road construction. Crafted aspects of the easement grant, scope of work for the road construction and the environmental insurance policy to ensure seamless integration.

Represented utility in the sale of a historically contaminated 21-acre property in Astoria, NY for the purpose of commercial redevelopment. Negotiated and drafted a manuscripted 10-year cost cap and PLL policy ($23.5MM in combined LOL) providing coverage for cost overruns related to the implementation of a remedial plan and coverage for third-party claims for bodily injury and property damage. Advised client in related technical aspects of the remedial plan to comport with the environmental insurance program and NYSDEC requirements.

Represented utility in the grant of an easement on a portion of a historically contaminated switching station property in New York to an energy company for its placement of underground transmission lines. Negotiated and drafted a related PLL policy ($20MM LOL) in the event that cleanup obligations or third-party claims arose as a result of the energy company’s work on the subject property. Advised client on related easement contract issues.

International Engineering/Environmental Consulting Firms
Represented client in a transaction involving the sale and cleanup of former rail yard site in Sacramento, CA
requiring more than $50MM in remediation work. Representation included the negotiation and procurement of a master environmental services contract, a related manuscripted 30-year cost cap and PLL policy (combined LOL of $153MM) under which client was the scheduled contractor and which provides coverage for cost overruns related to the implementation of the remedial plan for the site and for all parties for third-party bodily injury and property damage claims. Negotiated and drafted related scope of work and integrated all transaction documents to ensure linkage between client’s contractual obligations and insurance coverage.

Represented client in the negotiation and procurement of a guaranteed fixed-price environmental services contract to conduct up to $10MM in remediation work at a former manufacturing site in Connecticut to meet applicable industrial/commercial cleanup standards and to prepare the site for sale and redevelopment. Representation included negotiating related manuscripted 10-year cost cap environmental insurance policy ($5MM LOL) providing cleanup cost overrun coverage to client. Such policy allowed client to provide a guaranteed fixed price for the remediation work and prevail in the competitive bidding process by providing a mechanism to insure beyond the expected cost of the work, at a reasonable premium.

National Engineering/Environmental Consulting Firm
Represented client in the negotiation and procurement of a guaranteed fixed-price risk transfer and environmental services contract for over $15MM of remediation work to be performed pursuant to regulatory requirements at a portfolio of 23 gas pipeline facilities across several states in the Midwest. Negotiated, drafted and integrated the multi-site environmental service agreement, aspects of the scope of work and a related 10-year cost cap and PLL environmental insurance program (combined LOL of $22.5MM) providing cleanup cost overrun coverage to client and coverage for third-party bodily injury and property damage claims to client and the owner of the facilities.

Publicly Traded REIT - Portfolio of 1,000+ Gas Stations and Convenience Stores
Represented publicly traded REIT during negotiations and placement of 10-year PLL policy for more than 1,100 locations located throughout the Northeast and Mid-Atlantic. Manuscripted policy provided $50MM aggregate LOL ($15MM LOL for each incident), with the SIR dependent on age of the underground storage tank (UST) (between $100K and $500K) and a drop down in the event of multiple claims. Policy also allowed automatic coverage for newly acquired properties. Specific manuscripted endorsement included “Environmental Professional” endorsement to address voluntary cleanups outside of state regulatory program and give back of cleanup coverage for sites with “No Further Action” (NFA), Certificate of Closure, or equivalent documentation confirming completion of cleanup.

Publicly Traded REIT - Portfolio of several hundred Industrial Warehouse and Office Buildings
Represented publicly traded REIT during negotiations and placement of 5-year PLL policy for growing portfolio of covered properties located throughout the United States. Prior to binding, solicited and analyzed quotes for 5 and 10 year policies from 5 of the largest environmental insurance companies, counseled client regarding benefits of each option, and negotiated reduced premium and SIR with client’s chosen insurer. Final manuscripted policy included $25MM aggregate LOL ($15MM LOL each incident), with $50K SIR (with dropdown on multiple claims). Specific manuscripted endorsements included: give back of cleanup coverage for sites with NFA, Certificate of Closure, or equivalent documentation confirming completion of cleanup; expanded definition of bodily injury and property damage; and coverage for microbial substances. Policy allowed automatic coverage for newly acquired properties meeting certain pre-negotiated underwriting criteria.

Publicly Traded REIT - Automobile Salvage Yards
Represented publicly traded REIT during negotiations and placement of 5-year PLL policy for two automobile
salvage/scrap metal yards, including coverage for bodily injury, property damage and certain cleanup costs.
Manuscripted policy included a $5MM LOL per claim/aggregate and $100K SIR.

Medical Properties REIT
Represented specialty medical properties REIT in the design, drafting and negotiation of a unique “umbrella” 10-year PLL policy (with a $5MM LOL) that covered a significant portfolio of medical facilities and which allowed for newly acquired facilities to be covered under the policy on a fixed-premium, rolling basis during the policy period.

Connecticut Manufacturer
Represented seller in sale of contaminated commercial property in Connecticut where seller retained all liability for remediation (including all regulatory work under the Connecticut Transfer Act). Drafted and negotiated a 10-year cost cap and PLL policy (with combined LOL of $6MM), the PSA, a post-closing access/remediation agreement and integrated all documents with the insurance policy. Assisted client in resolution of $2+MM claim under the policy and negotiation of renewal policy to address potential “tail” liability after initial policy expiration.

Construction Supply Distribution Center
Represented distributor of construction supplies and related materials in connection with purchase of the assets of another company. Client assumed lease with potential on-site contamination and adjacent to contaminated Long Island Railroad property subject to on-going groundwater monitoring. Backstopped limited contractual indemnity with 5-year PLL policy with a $5MM LOL. Policy would pay in excess of indemnity from seller (or drop down if indemnity fails).

Aerospace Manufacturing Company
Represented aerospace manufacturing company with respect to environmental and related business issues in connection with stock sale for $84MM. Designed and negotiated manuscripted PLL policy for former shareholders, officers and directors to box in historic environmental liabilities and provide coverage for third-party claims related to historic environmental conditions with a reopener for cleanup coverage after achievement of “no further action.”

Aerospace Manufacturing Company
We assisted an aerospace manufacturing client in the negotiation and procurement of a PLL policy pertaining to a formerly owned/operated manufacturing site with legacy environmental obligations. Representation included negotiating a manuscripted 10-year policy ($10MM LOL) providing coverage for third party bodily injury and property damage claims, including adding: (i) a sublimit for claims pertaining to per- and poly-fluoroalkyl substances (PFAS) and (ii) a $2.5MM limit for legal defense costs that would not erode the policy limits.

Battery Manufacturing Company
Represented a former lead battery manufacturing company in connection with the completion of a $35MM+
remediation of its manufacturing facility property and adjacent 2.5 mile stretch of a tidally influenced river in CT. Our representation included the development of an aligned-interest remediation contract and the negotiation and procurement of a 10-year PLL policy with a $25MM LOL and excess liability policy providing an additional $25MM LOL. The policy protects the former owner of the property against: (1) third party bodily injury and property damage claims; (2) onsite and offsite remediation expenses; (3) transportation; and (4) waste disposal activities. In connection with the remediation effort, we also negotiated a 3-year contractors environmental policy with a $5MM LOL.

Financial Services & Technology Company
Represented a multinational financial services and technology company in the negotiation and manuscripting of 5-year PLL policy with a $10MM LOL and a $100K SIR. The policy protects the client from cleanup costs associated with any newly-discovered pre-existing conditions and third party claims for bodily injury and property damage from known and unknown conditions. We also successfully negotiated coverage for any future cleanup of the known conditions required after the Site has been “verified” by CTDEEP (e.g., by a “re-opener”).

Bulk Material Handling System Company
Represented designer of bulk material handling systems for manufacturing operations in sale of all outstanding shares of company for ~$3MM. Designed and negotiated manuscripted PLL policy for seller to backstop indemnity obligations under Stock Purchase Agreement and provide coverage for potential toxic tort liability from company’s historic use of asbestos-containing materials. Policy had a $2MM LOL and 3-year term to match potential indemnification obligations and survival period, and a special, manuscripted endorsement giving back coverage for product liability claims relating to asbestos-containing materials.

Commercial Truck Sales & Service Company
Represented a commercial trucking company with respect to environmental business and compliances issues in connection with the asset purchase of a dealership and service center for ~$20MM. Negotiated the environmental provisions of a Buyer-side Representations and Warranties Insurance (RWI) policy to cover damages associated with breaches of environmental (and other) Seller reps and warranties. Policy had a $5MM LOL and 6-year term for environmental matters.

Dam Association
Represented an Association charged with the maintenance and management of a dam in procuring General Liability and Excess Liability policies. The General Liability policy has a $2MM LOL and the Excess Liability policy has a $5MM LOL. The dam insurance market is a difficult and non-competitive area and prior to our involvement, the premiums for the policies increased ~50% in a single year. However, after our involvement the increase to the premiums reduced to an average of 16%.

Our Environmental and Risk Management Practice

Our Environmental and Risk Management Practice

Real Estate Transactions/Redevelopments

Lending Transactions

Utilities

Engineering/Consulting Firms

Real Estate Investment Trust (REIT) “Umbrella” Policies

Corporate Transactions