A sampling of actual transactions where Twin Elms has facilitated custom environmental insurance policies.
Industrial & Manufacturing
95 Acre Industrial Complex
New York Property Description This 1.4 million square foot manufacturing facility is situated on 95 Acres. In 1942, a defense contractor built the facility for manufacturing. Environmental Condition Soil / groundwater contamination. There is an off-site plume covering 300 acres moving 1 foot per day in down gradient directions. A groundwater pump and treatment system is operating on and off site. Environmental Contaminant Cleaning solvents Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years Liability Limit: $20,000,000 Deductible (SIR): $150,000 Standard Coverages
Lender named as Additional Insured Business Interruption Term Premium: $195,000 |
Redevelopment Project
Connecticut Property Description This project entailed the re-development of a former industrial and manufacturing facility into a 35-acre mixed-use retail center. Environmental Condition Soil & groundwater contamination. Off-site conditions are unknown. Environmental Contaminant Manufacturing solvents, asbestos and lead paint Insurance Policy Clean Up Cost Cap Policy Policy Period Completion of remediation as defined by remedial action plan and government no further action designation Liability Limit: $6,000,000 Deductible (SIR):$570,000 Standard Coverages
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50-Acre Industrial Complex
Michigan Property Description This three building complex is comprised of 512,000 square feet office space located on a 50-acre campus in the heart of an Industrial Corridor. Environmental Condition Soil & groundwater contamination. A groundwater pump and treatment system was installed in 1995. Off-site contamination exists. Environmental Contaminant Manufacturing solvents Insurance Policy Combined: Pollution Legal Liability and Remediation Cost Cap Policy Period
$1,500,000 cost over-run limit above expected cleanup of $1,500,000, and $150,000 buffer layer Deductible (SIR): $150,000 – Pollution Legal Liability Policy Standard Coverages
Pollution Legal Liability Policy, $145,000 Remediation Cost Cap Policy, $360,000 |
Retail Shopping Centers
Shopping Center
Florida Property Description This is a single story shopping center consisting of 85,247 square feet set on 9.65 landscaped acres. The center was built in 1989 and is anchored by a Winn Dixie supermarket. Environmental Condition Soil & groundwater contamination. Off- site condition unknown. Environmental Contaminant Dry cleaning solvents (enrolled in state cleanup program) Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years Liability Limit: $3,000,000 Deductible (SIR): $100,000 Standard Coverages
Diminution of adjacent property value, Business interruption Term Premium: $92,450 |
Retail Center
New York Property Description This is a community center consisting of 99,656 square feet set on 11.72 acres. Environmental Condition Soil and groundwater contamination. Off- site condition unknown. Environmental Contaminant Dry cleaning solvents Insurance Policy
$122,412 |
Mixed-Use Center
New Jersey Property Description This is a single story retail mall consisting of approximately 200,000 square feet. Environmental Condition On-site soil and groundwater contamination. Off- site condition unknown. Environmental Contaminant Petroleum Hydrocarbons Insurance Policy
$135,620 |
Mergers & Acquisitions
Machine Parts Distributor - Arizona
Property Description This business manufactures, services, and distributes machine parts. The acquisition included the purchase of business personal property and inventory. The business operates at a leased facility consisting of three buildings situated on a 9 acres parcel. Environmental Condition Soil and groundwater from past operations. Potential for future environmental contamination stemming from on-going operations. Environmental Contaminant Petroleum and PCE Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years Liability Limit: $3,000,000 Deductible (SIR): $100,000 Standard Coverages
Business Interruption, Seller and Lesser named as Additional Insured, Underground storage tank coverage Term Premium: $119,000 |
Plastics Manufacturer - Multiple Locations
Property Description The business operations and four owned locations were purchased as part of a corporate acquisition. The company produces and distributes numerous plastic related products. Environmental Condition Soil contamination at one location. Potential for future environmental contamination stemming from operations Environmental Contaminant Petroleum Insurance Policy Pollution Legal Liability Policy Policy Period 10 years Liability Limit $5,000,000 Deductible (SIR) $50,000 Standard Coverages
Underground storage tank coverage (3 locations) Term Premium $158,600 |
Office Buildings
Corporate Headquarters - Massachusetts
Property Description This is a 3 story class A office building consisting of 275,000 square feet situated on 15 park like acres. Environmental Condition Soil and groundwater contamination Environmental Contaminant Petroleum hydrocarbons Insurance Policy Secured Creditors Policy Policy Period: 10 years Liability Limit: $20,000,000 Deductible (SIR): $0 Standard Coverage Lesser of the cost of cleanup or loan balance payout in the event of a technical and monetary default Term Premium: $111,710 |
Office Building - Greenwich, Connecticut
Property Description This is a 2 story class A office building consisting of 10,000 square feet set on 1 acre. Environmental Condition Soil and groundwater contamination generated by an off-site source Environmental Contaminant Petroleum Products Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years Liability Limit: $2,000,000 Deductible (SIR): $25,000 Standard Coverages On-site cleanup of historical conditions On-site cleanup of new conditions Off-site cleanup of historical conditions Off-site cleanup of new conditions Third party claims for bodily injury and property damage Legal Defense Expenses Optional Coverages Business Interruption Lender named as an Additional Insured Diminution in adjacent property value Term Premium $92,741 |
Apartment Buildings
Two Story Apartment Complex
Upstate New York Property Description 105 unit apartment complex located in a rural residential area consisting of 4 two story brick buildings situated on 8 acres. Environmental Condition Soil and groundwater contamination from a leaking underground heating oil storage tank. Environmental Contaminant Petroleum/hydrocarbons Insurance Policy Secured Creditors Policy Policy Period: 10 years Liability Limit: $6,000,000 Deductible (SIR): $25,000 Standard Coverages Lesser of the cost of clean up or loan balance payout in the event of a technical and monetary default Term Premium: $52,600 |
Downtown Apartment Building
Columbus, Ohio Property Description Four story apartment building consisting of 140,000 square feet located inside city limits and constructed in 1952. Environmental Condition Soil contamination Environmental Contaminant Cleaning solvents Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years Liability Limit: $3,000,000 Deductible (SIR):$100,000 Standard Coverages On-site cleanup of historical conditions On-site cleanup of new conditions Off-site cleanup of historical conditions Off-site cleanup of new conditions Third party claims for bodily injury and property damage Legal defense expenses Optional Coverages Business Interruption Lender named as Additional Insured Term Premium: $102,400 |
Townhouse Complex
Vermont Property Description This property is a multi-building townhouse complex on a 27 acre site constructed in 1982. The complex is comprised of twelve multi-unit buildings with a community recreation center. Environmental Condition Soil and groundwater contamination Environmental Contaminant Petroleum hydrocarbons Insurance Policy Pollution Legal Liability Policy Policy Period: 5 years Liability Limit: $2,000,000 Deductible (SIR): $50,000 Standard Coverages On-site cleanup of historical conditions On-site cleanup of new conditions Off-site cleanup of historical conditions Off-site cleanup of new conditions Third party claims for bodily injury and property damage Legal defense expenses Optional Coverages Active underground storage tank coverage Seller named as Additional Insureds Term Premium: $49,600 |
Vacant Land
Riverfront Redevelopment
New York Property Description This property consists of 19.86 acres above water.. The site was used for industrial operations dating back to the 19th century. Currently, there are no buildings located on the property. Environmental Condition Soil and groundwater contamination. Environmental Contaminant Arsenic, selenium, VOCs and SVOCs Insurance Policy Pollution Legal Liability Policy Policy Period: 5 years Liability Limit: $5,000,000 Deductible (SIR): $150,000 for historical conditions, $50,000 for new conditions Standard Coverages
$58,750 |
Brownfields Redevelopment
Pennsylvania Property Description This redevelopment project entailed the demolition and remediation of a former industrial brownfields site. Environmental Condition Soil and groundwater contamination. Environmental Contaminant Industrial cleaning solvents and heavy metals Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years: Liability Limit: $10,000,000 Deductible (SIR): $100,000 Standard Coverages
$158,700 |
Urban Redevelopment
Maryland Property Description This site is located in a heavy industrial area. From 1927 a metropolitan transportation authority used the site as an electrical substation. A 10,000 square foot building containing several electrical transformers and similar fuel filled equipment occupied the property. Environmental Condition Soil and groundwater contamination Environmental Contaminant PCBs and naphthalene Insurance Policy Pollution Legal Liability Policy Policy Period: 10 years Liability Limit: $10,000,000 Deductible (SIR): $100,000 Standard Coverages On-site cleanup of historical conditions (government mandate trigger) On-site cleanup of new conditions Off-site cleanup of historical conditions Off-site cleanup of new conditions Third party claims for bodily injury and property damage Legal defense expenses Optional Coverages In place asbestos ($1,000,000 sub-limit), Non-owned disposal sites Term Premium: $136,350 |
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