Environmental Insurance Support Services
The underwriters of environmental liability covera...
The underwriters of environmental liability coverage face a unique set of concerns as they evaluate submissions, looking at the history of the operations, assessing the current risk control methodologies employed, identifying possible environmental receptors of a loss, and forecasting the potential for a loss during the policy period. When a loss occurs, the underwriter needs confidence in the claims response that the loss is managed quickly, efficiently and professionally to control the costs. For a company seeking this coverage, whether it is by regulatory mandate or prudent environmental risk management decisions, proving insurability and securing preferred rates from superior risk control practices is paramount.
The Terra Nova team of professionals has a long hi...
The Terra Nova team of professionals has a long history of working with the environmental impairment liability industry, including the management of loss control programs for several of the key underwriting programs, serving as environmental claims examiners, and supporting the underwriters' evaluation of a submission. We have a thorough understanding of the coverages offered in this industry, including: Environmental Impairment Liability, Contractors Pollution Liability, Professional Liability, Cost Cap Coverage, Storage Tank Liability, and Closure/Post-Closure Coverage.
Environmental Risk Assessment Services - Loss Control
On the 'front end' of the underwriting process, underwriters will require a loss control audit of an operation as part of the submission for coverage. Terra Nova, given its extensive affiliation with the environmental impairment liability industry, can assist both the underwriters and the potential insureds during the evaluation process. For the underwriting programs. Terra Nova can assist with all aspects of the underwriter's needs, including the development of an internal environmental loss control program, to the execution of a wide range of loss control audits tailored to the applicable coverage. Program assistance consists of establishing guidelines for requesting assessments for new accounts or renewing accounts, establishing the decision hierarchy for determining the scope of the assessment, establishing tailored report formats for site audits, and identifying cost-effective database search services to support the process. In addition. Terra Nova has fully qualified professionals on staff with diverse experience to tackle loss control assessments of all types to support the under evaluation of a submission. Terra Nova professionals have performed hundreds of such assessments, and as a result can provide environmental underwriting programs the confidence that the operations of the potential insureds are being reviewed by environmental professionals sensitive to the parameters of the coverage(s) in question, and with an understanding that premium dollars available for these services are limited and must be effectively utilized.
For the insureds seeking environmental liability coverage. Terra Nova's extensive experience with the insurance community ensures that a risk assessment of the applicant's operation as part of the insurance submission will satisfy the underwriter's needs for evaluation. Further, Terra Nova professionals have a diverse range of technical backgrounds that affords sound, technical, loss control recommendations to minimize environmental risk within the applicant's operations, and evidence a proactive approach to the underwriter.
claims Support Services
Our in-depth knowledge of the environmental insurance market coupled with Terra Nova's environmental field services, makes Terra Nova well poised to provide timely and responsive claims services. Terra Nova can assume the role of third-party administrator for insured with serf-insured retentions, be the 'eyes and ears' for the carrier to determine the nature and magnitude of the loss, and/or provide comprehensive investigation and remedial services should a policy be triggered by a pollution event.
Customer reviews
No reviews were found for Environmental Insurance Support Services. Be the first to review!