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SECUR-IT - Guaranteed Fixed-Priced Remediation
EWMA first offered fixed-price remediation service in 1992; well before any other consulting firm even considered such an approach. Since then, EWMA introduced the SECUR-IT Guaranteed Fixed-Price Remediation and Insurance Program in 2001. As an Environmental Liability Transfer tool, SECUR-IT provides for peace of mind regarding cost uncertainties related to acquisition or redevelopment of an environmentally distressed property. EWMA can offer insurance from both known and unknown contaminants, as well as third-party liability for the owner of a contaminated property. This is all done with a fixed-price contract for environmental remediation that EWMA guarantees and typically an insurance policy from an A.M. Best A rated carrier.
nnovative approaches to SECUR-IT project cleanup guarantees provide our clients predictable timing, budgeting, and accurate estimating of return on investment calculations for their enivornmentally distress properties. Our award winning approaches combine business, insurance, and technical elements to manage risks and meet overall project goals.
Here is what some of our SECUR-IT clients have said about the SECUR-IT program:
“EWMA’s SECUR-IT remedial services provided us the financial security necessary to move our project towards environmental closure with environmental liability transfer benefits. This gave us the flexibility to pursue a more aggressive remedial approach without the fear of unanticipated cost overruns.”
“With SECUR-IT we knew in advance our costs for compliance and based business decisions accordingly EWMA provided excellent cost estimates and remedial services to our company on a recently completed redevelopment project.”
-E. Russo, Russo Development
Post Remediation Care Liability Assumption (PRCLA)
The New Jersey Department of Environmental Protection (NJDEP) has implemented a new remedial action permit (RAP) program for both soil and groundwater institutional and engineering controls (i.e., deed notices for soil and classification exception areas for groundwater). One key difference is a new financial assurance requirement for monitoring and maintaining engineering controls for as long as the control is needed, up to thirty years. EWMA`s successful SECUR-IT guaranteed cleanup cost program is now being expanded to meet post closure needs. EWMA has assembled a team of environmental, insurance, and financial experts to implement a third party liability assumption of the risks inherent in implementing a long-term post remediation care program designed to meet the post closure needs of responsible parties, especially under this new RAP program in New Jersey.