Insurance Archeology and Cost Recovery

Vernon Environmental, Inc. (VEI) has been successful in assisting its clients with insurance cost recovery to unlock the market value of nonperforming contaminated properties. VEI finds the supporting insurance policies, provides a strong environmental package for submittal to the insurance carrier, engages in settlement negotiation support and works closely with the environmental attorneys and other stakeholders involved in the insurance cost recovery process to pay for investigation, regulation, cleanup and legal costs.

Insurance Archeology is the reconstruction and analysis of historical insurance coverage. It offers the potential to discover lost insurance coverage, which may fund environmental investigation and cleanup. Insurance archeology has contributed to our client’s successful real estate risk management purchase and sale strategies.

Many business properties have been environmentally impacted from years of operations. These properties remain contaminated due to costly investigation and cleanup costs. Owners are not able to refinance through institutional financing and potential buyers are not able to obtain institutional financing due to the environmental liability. VEI has the experience to put into action a strong insurance archeology and cost recovery program for its clients… to turn a nonperforming property into a performing asset.