New Day Secures Coverage for University

New Day Secures Coverage for University

A university with a number of locations spread across one state in the U.S. as well as locations in Europe and Asia owns buildings comprising their campus. Many of the buildings are old, with some dating back to the early 1800s. Working with the retail broker and an environmentally savvy risk manager, New Day gathered a number of environmental documents to support obtaining the broadest coverage, including environmental site assessment reports, asbestos and lead-based paint management plans, material safety data sheets, asbestos inventories, regulatory information, statement of values with details of each location in the portfolio and a signed application for fixed-site Pollution Legal Liability coverage. Because there are locations in Europe and Asia, New Day sought coverage from carriers who could provide worldwide coverage, while also placing local admitted policies outside the U.S. and then sitting excess of those local policies. One carrier offered not only the broadened coverage, but they also have a new endorsement that is specific to educational facilities. Since mold is an obvious concern for older buildings, New Day worked with the retail broker to secure a water intrusion and mold prevention program plan. Based on initial quotes from the carriers approached for this unique and challenging site pollution opportunity, New Day was able to successfully satisfy the client’s coverage requirements with regards to the coverage, limits and premium, along with a minimization of endorsed restrictions.

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