Slivka of New Day Underwriting Managers explores Enviro. & Pollution Professional Liability
HAMILTON, NJ — Jeff Slivka, president at New Day Underwriting Managers LLC recently explored the latest contractors professional and pollution liability insurance trends at the 35th IRMI Construction Risk Conference. This included outlining today’s coverage, claims and first-party liability issues and challenges with more than 500 insurance agents, brokers, attorneys, underwriters and executives responsible for managing and insuring construction project risks.“The construction marketplace and the associated risks have evolved rapidly leading not only to an increase in professional liability claims, but also ongoing confusion regarding the solutions available for managing problems,” said Slivka. “Disease outbreaks caused by bacterial infections and green building errors are just a few of the areas that are now posing a new array of exposure and liability problems for contractors, project owners and related business partners.”
“In addition, this changing landscape has constantly deviated from the traditional design-build model forcing contractors to regularly assume responsibilities that exceed their core expertise. As a result, the need to stay competitive has coupled with updated legislation to produce unchartered waters filled with devastating financial consequences. This presentation was specifically designed to help professionals and owners better understand project pitfalls, risk management methods and the evolution of new policy forms.”Slivka’s “Market Update” reviewed the recent trends and developments surrounding newly identified exposures and the latest forms, advancements and supplemental coverages surrounding the Contractors Pollution Liability (CPL), Pollution Legal Liability (PLL), Contractors Professional Liability (CPrL) and Owners Protective Professional (OPP) marketplace. Among these were the:
• Cleanup and defense costs arising from the transport, disposal and emergency response problems arising from pollution conditions• Damages resulting from professional performance acts, errors and omissions
• Difference between rectification coverages, which offer design error restitution, and mitigation coverages, which pay for the prevention of further damagesThe 35th Annual IRMI Construction Risk Conference hosted more than 1,500 professionals attending 45 presentations offered by 60 nationally recognized insurance, risk management, safety, and surety experts. As a regular presenter at IRMI, Construction Financial Management Association (CFMA) and Associated General Contractors events, Slivka has dedicated his career to helping construction insurance industry leaders better understand and manage environmental and/or professional liability risks.