A Note from Leadership – Eric McCabe, National Underwriting Director
This edition of Environment Insider focuses on real estate. Real estate professionals face an extensive range of pollution exposures. Acquisitions, developments, vacant and occupied properties all have their unique exposures that can lead to costly liability claims that dramatically threaten a business’ financial security. These pollution claims remain a leading business expenditure within the industry.
When so much time is invested in the financial due diligence, it is surprising how many real estate professionals do not consider or overlook the potential pollution liabilities that can affect the economics of a real estate transaction. The truth is that the environmental due diligence will rarely be sufficient in this increasingly competitive business environment, which has contributed to the widespread need for environmental coverage.
Even a comprehensive understanding of the environmental risks and regulatory standards cannot accurately predict the future environmental risk associated with real estate. Emerging environmental issues create a dynamic and unpredictable regulatory climate - the revolutionary non-stick coating of yesterday is our new concern today.
Regardless if it is a legacy environmental issue or a newly emerged concern, these historic and new contamination exposures fall in the hands of the insured. This edition of the Environmental Insider will bring to light a number of environmental issues that encompass the development and transaction of commercial properties. Working with experts like the ones at Great American Environmental can help mitigate and safeguard against rising pollution concerns through unique tailoring of environmental policies and the development of comprehensive risk management plans.
You and your clients’ safety is important to us. We hope you enjoy the following articles and look forward to assisting with your environmental insurance needs.
Eric McCabe, National Underwriting Director
Eric serves as Great American Environmental Division’s national underwriting director. Along with his extensive experience in the insurance field, Eric holds his J.D. and previously worked as an environmental chemist. He is based out of our New York office.