ARMR.Network, LLC Newsletter                                                             March 2010

New Business from the EPA
Lead Safe Renovation

 

The need for environmental insurance has been greatly expanded!

Here is an opportunity to provided exceptional value to clients and prospects and write new business in the process.

Effective April 22nd all construction activities on virtually all commercial housing containing lead based paint (built prior to 1978) needs to be performed under the new EPA Lead Safe Renovation Standards by contractors who are lead safe certified. For more information visit www.armr.net/leadsafe.html  

A wide range of contractors, even electricians, working on commercial residential properties or private residences built prior to 1978 need to be EPA certified if their work will disturb as little as one square foot of lead based paint.

Owners of commercial properties and the contractors they hire can be fined individually for non compliance with the rules up to $32,500 per day under the Federal Toxic Substances Control Act.

The construction activities performed under new lead safe renovation rules will no doubt be safer than similar construction related activities performed in the past. However, the mandatory notification of the occupants of the hazards of lead before construction can begin, will significantly increase the net environmental risk of contractors and building owners.

Specially modified environmental insurance is needed to insure these new loss exposures.

Although the EPA rules do not contain insurance requirements, it is important to note standard pollution exclusions in property and liability insurance policies basically exclude any loss related to exposure to lead.

Also insurance companies are responding to the new rule with specific exclusions for lead and are non-renewing the liability insurance policies of firms affected by the rule.

ARMR.Network has developed a complete suite of insurance products designed to address these new loss exposures for the owners of properties and the contractors they hire. Premiums can be as low as $2500 for CPL coverage.

For background information on this topic and the broad range of insurance products we offer to address these risks see www.armr.net/leadsafe.html

Contact ARMR.Network at 877-735-0800

ARMR.Network is a wholesale insurance broker specializing in environmental risks. We work through insurance Agents and Brokers from coast to coast.

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