Well, I’m not sure how the seasons changed so fast but I’m not complaining because the best season of all is upon us – FOOTBALL (or the NFL)! By now you not only know what your fantasy team looks like, but also your 10/1 renewals! Good news/bad news - you can trade your bad fantasy picks, but you can’t change your 10/1s, or any renewals for that matter!
So, since you read the last edition, John Heft and I attended WSIA and had some great conversations with many of our carriers. (By the way, I need to hire the economic advisor for the city of San Diego – they are killing it when it comes to conferences and tradeshows!). Next up is the IRMI Construction Risk Conference in San Diego (see, I told you!), where I hope you’ll join us for a couple sessions Joe Reynolds and I will be leading. Read on for more details as well as a full list of our RT ECP attendees, and reach out to schedule a time to meet.
This issue of the Standard also provides a link to our webinar recording library. Our webinars cover a variety of topics in the environmental and construction-related professional liability space, and serve as a valuable educational tool for your agency and your insureds.
I hope you enjoy this issue and look forward to seeing as many of you as possible at IRMI! And as always, thank you for your business and the friendships!!
RT ECP Team to Attend IRMI CRC
RT Specialty is once again a proud sponsor of the IRMI Construction Risk Conference to be held October 27th to 30th in San Diego, CA. This year two of our RT ECP colleagues are speaking during the event.
Jeff Slivka will discuss "Owners Professional Protective Indemnity Insurance" at his session on October 29th at 3:00 PM.
Joe Reynolds will explore "Trends and Strategies in Contractors Professional Liability Insurance" during his "Snap Talk" on October 29th at 8:50 AM.
In addition, listed below is contact information for each of our RT ECP team members attending IRMI. Please reach out to schedule a time to meet during the conference.
Once again Jeff Slivka and John Heft represented RT ECP at the WSIA Annual Marketplace in San Diego. This is always a great event to connect with many carriers and underwriters all under one roof. With so much going on in the E&S marketplace, staying informed on new developments is crucial. Attending and supporting WSIA is just one way we remain at the forefront of industry changes. As always, it was good to see all the RT people out in full force at this conference.
Welcome to the Team
Please join us in welcoming Dhruvi Gandhi who recently joined RT ECP as an Account Administrator. Dhruvi can be reached at dhruvi.gandhi@rtspecialty.com.
Recent Promotions
Congratulations to the following RT ECP team members on their recent and well deserved promotions.
Lexie Jackson, Consultant
Jeff Youmans, Account Manager
The RT ECP Baby Boom Continues
Congratulations to RT ECP's Chris Bair on the birth of his son and first child, August (Augie) Randall Bair. Augie made his debut on August 12th and we hope to see him in the Ryan Specialty intern class of 2046.
Risk Tip - Why Should Project Owners Purchase a PLL Policy in Addition to a CPL / OCIP Policy?
By: Lexie Jackson
When thinking about pollution liability insurance for development projects, we typically think of the General Contractor’s Contractors Pollution Liability policy. However, such coverage oftentimes does not completely negate the project owner’s pollution exposure for the site on which the contractors are performing their work. For a more comprehensive approach, we usually recommended that project owners purchase two pollution policies – a Contractors Pollution Liability (CPL) / Owner Controlled Insurance Program (OCIP) policy as well as a Pollution Legal Liability (PLL) policy. A high-level summary of each coverage follows:
A CPL / OCIP policy typically provides coverage for pollution conditions or events arising from contracting activities at the project site performed by or on behalf of the contractor or Named Insured (i.e., owner). Benefits of this program include, but are not limited to:
Offers a streamlined approach to managing Contractors Pollution Coverage for the project and avoids potential coverage gaps between contractors
Owners do not have to verify / collect insurance information from the General Contractor and Subcontractors
A PLL policy typically provides coverage for pollution conditions or events on, at, under or migrating from a Covered Location. Note that PLL policies may be purchased with multi-year terms, so the program could encompass the future development exposure as well as the operational exposure for the owner. Benefits of a PLL policy include the following:
Provides defense for Bodily Injury / Property Damage Claims that may include the Owner due to the former site use or history (depending on the quote / coverage structure)
Can include Operational Coverage for the site once development is complete
The main difference between the two programs is that a CPL / OCIP program provides coverage to the contractors for pollution events caused by their work at the project site. For example:
Spills from fuels and/or oils from equipment
Indoor air quality issues caused by inadequately installed HVAC systems
Damage to underground utilities (sewer, gas lines)
Whereas a PLL program is typically tied to the Covered Location and does not protect the contractors per se. For example:
Leaking, phantom Underground Storage Tank
Contaminants (whether new or pre-existing) migrating from a neighboring site onto the Insured’s site
For a development exposure, project owners can benefit from purchasing a PLL policy in addition to the CPL / OCIP as PLL provides coverage for unknown pollution conditions discovered during construction, which is oftentimes not covered under a CPL / OCIP. For more information on this topic, contact your RT ECP Consultant.
Did You Know?
Webinar Recordings
Did you know that RT ECP has a library of previously recorded webinars that are available for viewing at your convenience? We invite you to review this library and share these recordings with your team and/or your insureds. These webinars offer valuable learning opportunities on various environmental and construction-related professional liability topics. Take a look and reach out to any of our team members with questions or for more information.
This material is provided for educational and informational purposes only. It is not intended to be relied upon as legal or professional advice. Every insured’s circumstances will differ, and all coverages are dependent on each individual insured’s unique circumstances as well as applicable policy language. Whether an accident or other loss is covered by insurance is determined by the specific facts of the loss and the terms and conditions of the actual insurance policy or policies involved in the claim. References to typical terms or provisions of coverage are illustrative and may not apply to a specific situation. Please consult a legal or insurance advisor regarding specific insurance needs.
RT Environmental and Construction Professional, 2465 Kuser Road, Suite 202, Hamilton, NJ 08690, USA
