Environmental Risks In INSURANCE

Nanotechnology

What You Need to Know

Health impacts of exposure to nanoparticles is unclear and evolving with greatest unknowns being ability to penetrate dermal protection and the blood/brain barrier along with respiratory issues

Concern re latent toxicity-i.e. accumulation of nanoparticles in body over time

NIOSH taking the lead on exposure criteria/changing rapidly-published recommended exposure levels (RELs) for several nanoparticles

Treated similar to asbestos exposure/remediation at the current time with half face respirators and HEPA filtration recommended

What You Need to Do

Stay up to date with regulations, requirements especially those from NIOSH, OSHA and EPA (FIFRA, TSCA) as well as any local requirements

Stay alert with respect to product labeling requirements as guidelines are evolving

Ensure worker health and safety plans are current and in compliance with any applicable regulations

Ensure storage of nanoparticles are in compliance with manufacturer’s recommendations

Myths and Misconceptions

There are already thousands of consumer products on the market utilizing nanotechnology and these are increasing rapidly-TRUE

The health implications from nanotechnology are fully known and understood-FALSE

The most common materials utilizing in consumer “nano” products are silver, carbon, titanium,, silica, gold, and zinc-TRUE

Both the geometry as well as the chemistry of the nanoparticle may create increased exposure health risk-TRUE

Expert Services:
Insurance


Claims: Prevention and Response

  • Site Investigations/Inspections
  • Loss Mitigation Protocol Development
  • Creative Scope of Work Development
  • Project Oversight
  • Environmental Sampling
  • Cause and Origin Investigation
  • Emergency Response
  • Client Interface
  • Communication/Alert Development
  • Liability Exposure Minimization
  • Expert Consultation

Underwriting: New Product Development and Risk Assessment

  • New and Emerging Risk Education-Focus on New Areas of Coverage Opportunity
  • New and Emerging Product/Technology Applicability to Underwriting Coverage
  • Recommendations for Coverage Expansion Based on Risk Minimization Strategies
  • Policy Language Review/Development Based on Industry Specific Issues

Due Diligence: Investigation, Auditing, Verification and Risk Assessment

  • Project Oversight Ensuring Compliance with Policy Coverage
  • Immediate Communication re Project Issues Impacting Policies
  • Detailed Reports of Project Findings/Oversight with Recommendations
  • Cost Estimate Development Based on Construction/Remediation Options
  • Phone Surveys/Desktop Reviews Focusing on Issues of Potential Concern

Remediation Cost Auditing and Risk Quantification

  • Review/Audit of Contractor Invoices
  • Scope of Work Performed Analysis (Best Practices, Regulatory Compliance)

Expert Testimony

  • Environmental Risk
  • Healthcare Risk

Education and Training: Claims and Underwriting

  • Seminars/Webinars on Environmental/Healthcare Issues Focusing on Claims/Underwriting Risk
  • Seminars/Webinars on Emerging Issues and Policy Impact as well as Coverage Expansion Opportunities
  • White Paper Development

Insurance Toolkits: Claims and Underwriting

  • Development of Underwriting Applications for Healthcare/Environmental Risk
  • Development of Value Added Risk Management Checklists/Protocols for Insureds
  • Operations and Maintenance Programs for Water Intrusion Risk Management, Asbestos, Lead Based Paint
  • Hazard Assessment Critical Control Point Programs (HACCP)

Insurance Risk Alert Service

  • Development of Insured Alert Communications re Emergency Healthcare/Environmental Risk
  • Development of Employee Alert Communications re Emergency Healthcare/Environmental Risk
 
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