Environmental
Environmental liabilities associated with the purchase, sale or development of properties can be extremely complex challenges. In today’s litigious environment, the management of the overwhelming amount of documentation generated by the real estate transaction process is essential for successfully managing the property, underwriting environmental insurance coverage, tracking and documenting changes to policy terms and conditions, and managing any claims that may manifest.
Environmental and legal documentation created during the transaction process result from a variety of activities and actions including:
- environmental due diligence assessments [Phase I or PhaseII]
- demolition and construction
- cleanup of existing contamination
- management of contamination left on site
- lenders requirements
- purchase and sale agreements
- insurance policies, endorsements and claim submissions under their environmental insurance program
To better manage the environmental documentation process, Aon Environmental Services Group (Aon ESG) and Aon eSolutions have developed an environmental modulewith Aon’s risk management information systems, RiskConsole, which tracks and warehouses environmental, legal, and insurance documents associated with individual properties and portfolios.
Key Benefits
- Real-time access to environmental coverage, enhancements, deductile, limites, exclusions claim history at individual propery and aggregate basis
- Increased notification efficiencies through report scheduling and automatic email alerts based on client definition (e.g. new location, non-compliant locations, new endorsement uploaded etc.)
- Central, secure global repository for all environmental information including critical data elements, policy, endorsement and environmental electronic documents
- Manage both acive and potential acqusition locations for environmental cover compliance
- Manage the environmental preperation and renewal process proactivey