Environmental Liability Assessment

Assessment Introduction

    Page 1

    Welcome to the Environmental Liability IQRM!

    The IQRM for Environmental Liability will provide you with a brief history of environmental regulation and governing statutes, an outline of the different types of environmental insurance coverages available, and will assist you in identifying environmental exposures that may affect your business operations. Your assessment results will also examine key terminology, review market trends and conclude with recommendations for loss prevention and mitigation.

    The most crucial step of this risk management process is to first identify any exposures by completing our 13 question survey .  Click 'Next' below to begin benchmarking your environmental liability risks.

    Question 1

    How well does your organization understand the potential exposure risks of pre-existing environmental conditions on properties you are acquiring?

    Question 2

    To what degree does your organization understand the potential exposure risk of property contamination from historical usage?

    Question 3

    To what extent is your organization aware of all relevant environmental regulations industry standards and have determined that you are in compliance?

    Question 4

    How would you rate your organization’s understanding of the cleanup and liability associated with the disposal of waste/materials at disposal facilities or recyclers?

    Question 5

    To what degree has your organization documented and implemented Operations and Maintenance (O&M) Plans for all HVAC, mechanical, and electrical systems?

    Question 6

    To what extent has your organization developed programs to prevent catastrophic releases (e.g., risk management plan, process safety management plan, spill prevention, control and countermeasure (SPCC) plan) and are employees trained in these incident response plans?

    Question 7

    How effective is your communication within all parts of your organization to ensure that all incidents that could lead to an actual claim are reported quickly and accurately?

    Question 8

    To what degree has your organization considered the need for purchasing environmental liability coverage in addition to commercial general liability (CGL) coverage?

    Question 9

    To what extent has your organization asked your insurance agent or broker about optional coverage enhancements?

    Question 10

    How would you gauge your organization’s understanding of the definitions of and differences between “occurrence-based” and “claims-made” liability coverage?

    Question 11

    To what degree has your organization disclosed all related entities (including ownership/ affiliation and nature of services) on your professional liability application and indicated those for which coverage is desired?

    Question 12

    How effective is your agent at ensuring you have completed and signed a detailed environmental underwriting application?

    Question 13

    How effective has your organization been at ensuring you have formal insurance requirements for all subcontractors (including qualifications) while also maintaining current certificates of insurance and policies?

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