To help contain the expense of cleanup activities at an unused army barrack, an environmental insurance program is providing a financial cushion and liability protection as part of a fixed cost remediation agreement.
ECS, an XL Capital company and a provider of environmental insurance, designed the program exclusively for ARCADIS G&M and its Guaranteed Fixed Price Remediation Program (GRiP).
ARCADIS G&M’s GRiP is being implemented in the cleanup of the former U.S. Disciplinary Barracks (USDB), located just northwest of Lompoc, Calif. The 2,875-acre facility was used as a military detention center. When cleaned up, a portion of the site will be transferred to the U.S. Bureau of Prisons.
For one fixed price, ARCADIS’ fixed price remediation program provides all investigation, remediation, and regulatory services that will be necessary for environmental cleanup of one particular contaminated site at the former military base.
ECS designed the GRiP insurance program to offer ARCARDIS protection against potential cleanup cost overruns and provide insurance coverage for first-party (on-site) and third-party (off-site) coverage for remediation expenses, bodily injury, property damage and legal defense expenses.
ECS has created numerous customized insurance programs for large-scale environmental remediation and redevelopment projects.
ECS, an XL Capital company, is an underwriting manager providing integrated environmental risk management® solutions to business and industry worldwide. ECS meets the diverse needs of its customers through insurance, risk control and claims management. XL Capital Ltd, through its wholly owned subsidiaries, provides insurance and reinsurance coverages and financial products worldwide.
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