The Environmental Risk Resources Association (ERRA) will hold an Educational Event on October 9 to examine the risks connected with mold coverage and a second seminar on environmental risks on October 10.
Both events are scheduled to be held at the Wyndham Northwest Chicago with a $200 fee for ERRA members, $300 for non-members.
“Mold – Practical Risk Management and Insurance Solutions” will feature a further discussion of the increasing risks connected with the condition, and will discuss topics considered at a similar presentation in September. – Described as follows:
a. Mold creates unprecedented professional liability exposures for risk advisors
b. Many mold remediations disturb asbestos and lead in existing structures
c. Insurance claims adjustors could face personal liability for cross contamination of mold
d. Mold exclusions are working there way into professional liability policies
The Environmental Insurance Forum will also consider problems discussed at a September presentation, as follows:
a. Environmental underwriters face internal competition for capacity
b. Wholesalers report surprising benchmarks
The meeting will feature a study by Charles Perry, President, Environmental Warranty, entitled Phase I’s Being Phased Out By Environmental Insurance.” The report states that “A fundamental shift is underway in the field of commercial real estate lending, a swift movement by financial institutions toward environmental insurance policies and away from Phase I site assessment reports. In fact, major lenders have moved so quickly to change their standard operating procedures that industry experts see environmental insurance soon becoming as common as lenders’ title insurance for commercial real estate transactions.”
It will also consider a study by Daland R. Juberg, Ph.D., Human Health Assessment, Regulatory Laboratories, Dow Agrosciences, LLC ” Distinguishing Perceived From Real Facility Hazards – The Increasing Need to Manage Risk in the Indoor Environment”
This report states that, as recently as five years ago, most environmental liabilities typically associated with property transfer assessment concerned the outdoor environment – Underground storage tanks, contaminated soil, leaking drums. “Rarely was the indoor environment, save for asbestos and lead, evaluated as closely for environmental, financial, or litigation-related liabilities. Yet, the headlines today reveal a changing story.”
Further information and registration may be obtained from the ERRA at: www.erraonline.org, or by e-mail at : email@example.com, or by telephone at:877-735-0800