Some of the nation’s most valuable real
estate has been abandoned or otherwise underutilized
because it is known to be contaminated. Many costs
associated with cleaning up contaminated sites
are subject to uncontrollable variables.
The uncertainty
associated with the extent of site contamination,
the contractor's performance, as well as regulatory
and legislative changes make it difficult to forecast
the total investment that will be required with
REMEDIATION projects.
Environmental Contract Insurance (ECI) proves to be a critical risk management
tool for investors, current owners, regional development authorities and secured
lenders. The ECI program gives budgetary control back to the project owner by
providing a guarantee of the cost of REMEDIATION. \
The ECI program also provides
a select group of consultant /contractors (contractors) the opportunity to propose
a fixed price contract that is supported by an insurance company. |