As we head into 2017, we have had a lot of discussion about where our biggest and best opportunities have come from over the past year. By determining where we have been successful and seen a demand in the environmental sector, we hope to gain an even better understanding of these risks and the products we can offer to them. It has been clear to our brokerage production team that there is an increasing need for quality coverage for virtually all site insureds our agents are working with―accounts ranging from hospitals and senior care centers to strip malls and recycling centers.

We want to share with you the top site opportunities where we have been able to identify an upward trend, both in overall knowledge of exposures on the part of the insureds, as well as their wish to purchase coverage to address those exposures.

Habitational Accounts

We have written a number of habitational risks this past year, including hospitals, apartment buildings, colleges/boarding schools, and nursing homes. Most of our agents work with a variety of property owners and managers, which presents an opportunity to have an exposure discussion relating to mold, legionella, waste disposal, spills, in place asbestos, vapor intrusion, and many other potential problems that could result in a claim.

Recycling Centers

As the country becomes more conscious of waste and recycling, there has been a tremendous uptick in activity at recycling centers. Not only have we seen a greater need for environmental coverage at “traditional” recycling facilities, niche recycling operations that handle metals, cell phones, and medical waste are seeking coverage to protect their businesses.

Redevelopment Sites

Redevelopment of older buildings can be risky business. The new owner often becomes liable for prior issues coming from the property, while also trying to handle permitting, renovations, and other potential issues with older, often neglected sites. Some of the considerations for insuring redevelopment sites include testing soil standards, vapor intrusion, improper disposal of dirt, unearthing or puncturing an underground storage tank, and many other possible exposures.

Transactional Accounts

Every time a property or business is purchased, sold, or changes hands, all involved parties are presented with the opportunity (and obligation) to examine the “shape” it is in and how it may impact the people and environment around it. This sector has experienced growth because there is greater awareness of exposures, there is an understanding that coverage is affordable, and lenders are requiring coverage to complete transactions, whether it be purchasing, refinancing, etc.

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We will continue to keep you informed of the areas where we are seeing meaningful growth. With many businesses refocusing their goals around sustainability and accountability, we expect insurance to become a greater part of how they manage their financial and reputational risk.