According the Environmental Protection Agency (EPA), “Brownfields are real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. Cleaning up and reinvesting in these properties protects the environment, reduces blight, and takes development pressures off green spaces and working lands.”
The sustainable reuse of previously contaminated property is an important goal of the EPA’s hazardous waste cleanup programs. EPA’s Enforcement Office encourages the cleanup and revitalization of contaminated properties by clarifying Superfund liability concerns and implementing the landowner liability protections. By providing guidance and using site-specific enforcement tools addressing available liability protections, EPA’s Enforcement Office is able to assist parties seeking to clean up, reuse, or redevelop contaminated properties.
Helping with Brownfields is Legends Environmental Insurance Services, LLC. “Legends offers a number Brownfield Insurance Programs to contractors who give these contaminated properties a second life,” reported Brian Mcfarland, Vice President of Legends Environmental Insurance Services. “Some of the nation’s most valuable real estate has been abandoned or otherwise underutilized because it is known to be contaminated. Many costs associated with cleaning up contaminated sites are subject to uncontrollable variables. The uncertainty associated with the extent of site contamination, the contractor's performance, as well as regulatory and legislative changes make it difficult to forecast the total investment that will be required with these,” he continued.
Environmental Contract Insurance (ECI) offered by Legends is a critical risk management tool for investors, current owners, regional development authorities and secured lenders. The ECI program gives budgetary control back to the project owner by providing a guarantee of the cost of remediation. The program also provides a select group of consultants and contractors the opportunity to propose a fixed price contract that is supported by an insurance company.
To learn more about Legends Environmental Insurance Services please visit: http://www.Legends-
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About Legends Environmental Insurance Services, LLC
Legends Environmental Insurance Services is nationally recognized as an innovator in providing environmental and restoration insurance programs. The company has over 30 years experience providing these services in all 50 states.