News From Beacon Hill – February 2016

Exposure Highlight: Commercial Office Buildings

For years, health experts have talked about the direct link between worker productivity and the indoor air quality (IAQ) of workplaces. In spite of this, there remain IAQ issues in workspaces because companies continue to put more people into tighter quarters, while landlords are making changes to buildings and instituting energy efficiency measures. These changes can often cause pollutants such as mold or off-gassing from furniture or carpet adhesive. Other types of contaminants may linger also, such as vapors from copying machines, asbestos fibers, bacteria, carbon dioxide, and carbon monoxide from lower floor parking garages that are not ventilated properly.

There are many types of commercial office buildings, and each type has common activities from which environmental exposures may stem. The most notable of these are the following: Administrative office activities, waste management, cafeterias, facility maintenance, and facility development/citing.

The environmental insurance policy that can address office building concerns is a Premises Pollution policy. This product is designed to provide coverage for unknown, historical, and future environmental liabilities such as claims for bodily injury, property damage, and cleanup costs as a result of a pollution event. These policies can be designed to address one commercial office space or an entire office building in one program and can include enhancements such as Business Interruption and Loss of Tenant Rents. Request more information on coverage for commercial office buildings.

Alert: Insurance news that could affect your accounts

Significant changes are continuing to occur in the environmental insurance space that are creating both confusion and opportunity. They include: One of the largest environmental carriers…Read more.

The Summit: Indoor Air Quality Issue

Every business has an exposure stemming from their facilities, or from those facilities they manage. Bodily Injury and Property Damage resulting from from the quality of the air in…Read more.

Recent Success Stories

  • A lease operator with 806 production wells located in the Marcellus Shale purchased a $3M Premises Pollution Liability policy for $257,600.
  • $150k Asbestos abatement contractor purchased GL/CPL/E&O, including Mold ($1M/$2M), for $5,000. This account came in last minute. We were able to turn around a quote while providing action-over coverage in NY State.
  • $1M Waste broker purchased GL/CPL/E&O ($1M/$2M) and a $1M Excess policy for $7,500. We were able to save the client some premium from previous program. The client has only been in business for 1 year prior to Beacon Hill writing the account.
  • Shopping Center with recently remediated pollution issues; the bank wanted insurance coverage over the sellers indemnification agreement. They purchased a $2M 3-year policy for $23,000.

Read more success stories