Favorable Market Trends Driving Contaminated Property Transactions
Increased cooperation from regulators and a great deal of liquid capital in the market right now are driving a rise in contaminated property transactions, environmental professionals told Bloomberg BNA.
Attorney Abbi Cohen, a partner with Dechert LLP in Philadelphia, told Bloomberg BNA Sept. 5 that ‘‘insurance products have changed—it’s always smart to keep an eye out for new policies that may better address emerging remediation issues.’’
‘The most common form of environmental insurance,’’ Cohen said, still is the pollution legal liability policy. This policy provides protection and risk mitigation from a third party deep pocket, which ‘‘helps ease the fears of lenders related to how the costs of completing an environmental transfer will be met,’’ she said.