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Home > Services & Products > Benefits of Environmental insurance > Submission Process |
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| While representing your during the procurement of insurance, we must stress the importance of a free exchange of information. Environmental insurers require information unlike that of traditional insurers. Information such as environmental studies, government agency correspondence, transactional documents and the like are preferred over traditional insurance applications. To facilitate our efforts and initiate our communications, we ask that you take a few moments to complete the form linked in the left column (this is a PDF file that can be downloaded and printed). This form is not an application for insurance, but a way for Frenkel to quickly compile a picture of your requirements – so feel free to estimate your responses because you are free to modify them as we proceed.
Our typical insurance procurement process follows the following phases:
Client information and requirements documentation.
Frenkel will inquire from you basic information that we know will be necessary for insurers to indicate terms. This information includes any due diligence documents, disclosure of known problems and description of operations.
Initial submission to insurers for an indication of insurability.
Frenkel will submit materials and communicate our requirements.
Insurer selection based upon initial indications.
Frenkel will make recommendations, but the final choice is yours.
Negotiations of policy pricing, form changes and terms.
Frenkel, along with you or your counsel (if they are involved) will negotiate specific details of the selected insurer's contract.
Insurance purchase.
When an agreement of terms is reached, Frenkel will bind coverage on your behalf, procure evidence of insurance, make the necessary regulatory filings and proof issued policies. Throughout the policy term, Frenkel will be your representative for policy changes or claims which may arise.
The procurement process can take months or days, depending upon your time requirements. For transactions that may take longer than sixty (60) days for you to complete before you wish to purchase insurance, keep in mind that insurer offers expire every thirty (30) days. Frenkel will work to keep offerings up to date with extensions, but we will need to be kept informed by you of any changes in the transaction which may affect the risks presented. Likewise, we will keep you informed of any insurer changes from their expired offerings. |
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