You are on page 1of 3

New Day Highlights Latest Environmental Insurance Trends at 2018 IRMI

Energy Risk & Insurance Conference

Hamilton, NJ, March 22, 2018 --(PR.com)-- John Heft, senior vice president and director of the real
estate practice at New Day Underwriting Managers LLC, highlighted the Current Trends in the
Environmental Marketplace at the 2018 IRMI Energy Risk & Insurance Conference (ERIC) held in
Houston, Texas. Joined by Kenneth Cornell, managing principal at Enviant, the presentation explored the
alternatives currently available for insuring against the environmental, facility- and contractor-specific
exposures currently plaguing the energy and oil industries.

“The accidental release of environmental contaminants by contractors serving the energy sector can pose
a variety of public health and financial concerns to the surrounding community, local area's natural
resources, and contractors themselves,” explains Heft. “While some of these releases and claims can
constitute significant risks to humans, property and natural resources, others most often involve massive
remediation costs and intensive cleanup efforts.

“As a result, contractors and other support organizations working within the oil, gas, storage, distribution,
and disposal industries are increasingly seeking to protect their companies from the costs associated with
wide ranging environmental exposures. The truth is most general liability and Control of Well Policies do
not provide the coverage needed to mitigate these problems. Fortunately, there are an increasing number
of options for covering pollution conditions.”

According to Heft, the coverage has never been broader for pollutants and pollution exposures. This is
especially important in a marketplace governed by stringent legislation and suffering from a growing
number of severe claims related to failing or broken pipelines, wells, and storage tanks.

Among the options cited by Heft was Contractor's Pollution Liability (CPL) insurance, which has become
increasingly viable for covering jobsite, transportation, disposal, accidental, and emergency response
exposures, and their legal defense. This also includes expanded terms for bacteria, microbial matter,
legionella, silt/sedimentation, silica, waste, and the use of green building, sustainable, and
energy-efficient materials.

Another alternative offered by the panelists was Pollution Legal Liability (PLL) endorsements, which can
be utilized to cover pollution exposures associated with maintenance yards, equipment storage, and
storage tanks. Additional terms have also been written to cover on- and off-site clean-up/remediation;
third-party bodily injury; property damages; and defense expenses.

For more information on John Heft and Kenneth Cornell's Current Trends in the Environmental
Marketplace presentation at the 2018 IRMI Energy Risk & Insurance Conference please contact New Day
Underwriting Managers at 609-298-3516 or visit www.newdayunderwriting.com.

About New Day Underwriting Managers LLC
New Day Underwriting Managers LLC is a specialty resource for agents and brokers, assisting them and

Page 1/3
PR.com Press Release Distribution Terms of Use
their clients find appropriate, high-quality environmental and construction-related professional liability
insurance coverages. The company offers agents and brokers single-point access to an ample portfolio of
products and services provided by the nation's largest environmental and professional liability insurance
providers. More information about the company is available on their website at
www.newdayunderwriting.com.

Page 2/3
PR.com Press Release Distribution Terms of Use
Contact Information:
New Day Underwriting Managers
William Chelak
732-541-2971
Contact via Email
www.newdayunderwriting.com

Online Version of Press Release:
You can read the online version of this press release at: https://www.pr.com/press-release/748183

News Image:

Page 3/3
PR.com Press Release Distribution Terms of Use