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UNLOCKING THE REAL BENEFITS OF ENVIRONMENTAL INSURANCE FOR LRAs AND DEVELOPERS

UNLOCKING THE REAL BENEFITS OF ENVIRONMENTAL INSURANCE FOR LRAs AND DEVELOPERS. Presenters: Barry Steinberg / Kutak Rock Bob Hallenbeck / XL Group – Environmental. ADC NATIONAL SUMMIT WASHINGTON, DC JUNE 5, 2014. I. What should insurance do for your organization?. Control liability

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UNLOCKING THE REAL BENEFITS OF ENVIRONMENTAL INSURANCE FOR LRAs AND DEVELOPERS

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  1. UNLOCKING THE REAL BENEFITS OF ENVIRONMENTAL INSURANCE FOR LRAs AND DEVELOPERS Presenters: Barry Steinberg / Kutak Rock Bob Hallenbeck / XL Group – Environmental ADC NATIONAL SUMMIT WASHINGTON, DC JUNE 5, 2014

  2. I. What should insurance do for your organization? • Control liability • Limit exposures • Protect financial stability • Provide risk management tools • Help you avoid catastrophic losses • Protect Directors and Officers

  3. II. Who can you protect? • The LRA itself • The LRA board • LRA employees • Tenants • Vendors • Contractors • Passers-by • Adjacent property owners

  4. III. Which insurance policies should be considered, and what do they cover? • Property – your site and what’s on it that you own or lease • General Liability – what happens on your site • Workers Comp – what happens to workers on the site • Auto – vehicles you own and their drivers • Directors & Officers – actions taken by your Board of Directors • Errors and Omissions – actions taken by professional staff and outside consultants

  5. IV. Are there any other insurance policies you should know about and do you require them to be obtained? • Tenants • Contractors • Subcontractors • Vendors • Architects • Engineers • Consultants • Environmental Risk – CGL Exclusion

  6. V. What kind of environmental risk will I encounter? • Known conditions • Unknown conditions • Breach of Land use restrictions • Level of cleanup needed • Government continuing obligations • Government right of access • Adjacent property migration – to and from

  7. VI. How can I mitigate environmental risk? • Review of government documents • ECP • Regulator concerns • Due diligence • Inadequacy of the CERCLA requirement • No intrusive testing • Petroleum is not a CERCLA hazardous substance • Obtain your own database • Insurance

  8. VII. Evolving environmental risk considerations for former military installations • Leases – no CERCLA warranty • MEC-Army / EPA dispute concerning CERCLA applicability • Vapor intrusion • Pesticides

  9. VIII. Government continuing obligations • CERCLA warranty – when does the government respond? • 330 – the OSD effort to limit it

  10. IX. So what does environmental insurance protect against? • Unknown and new conditions that are not the government’s responsibility • Remediation • 3rd party bodily injury and property damage • Legal defense costs • Regulatory reopeners • Business interruption and other enhancements

  11. X. What does it not protect? • Known conditions that are the government’s responsibility • New and unknown conditions that are the government’s responsibility • Ongoing government remediation and demolition • The government being added as an additional insured

  12. XI. Who does it protect? • The LRA (Camp Bonneville) • The LRA Board (Roosevelt Roads) • Tenants (Riverbank) • Developers (Lowry) • Municipalities and communities (Ft Ord)

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