Environmental insurance

Environmental insurance is designed to provide protection to the insured from pollution or environmental damage. It is an essential risk management tool for property and corporate transactions, industrial site closure and brownfield development.

There are several reasons why environmental insurance should be considered in contaminated land transactions and operational site management:

•
contamination and pollution incidents can result in significant environmental liabilities - regulatory enforcement, third party claims, clean-up costs and loss in property value
•
site investigations and remediation work will often miss contamination
•
almost every party in a transaction can inherit liabilities for contaminated land - seller, buyer, landlord, tenant, funder
•
premium costs have been reduced by increased competition in the market
•
clients are reluctant to soley rely on environmental

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Property News

Prime Minister announces Plan for Change to deliver national missions

The Prime Minister has announced a comprehensive Plan for Change, outlining key milestones to deliver national missions by the end of the current Parliament. The plan includes commitments to fast-tracking planning decisions on over 150 major economic infrastructure projects and constructing 1.5 million homes across England. It also focuses on securing home-grown energy, targeting at least 95% of low carbon generation by 2030, in line with advice from the National Energy System Operator (NESO). In addition, the government intends to publish ten-year strategies for housing and infrastructure in Spring 2025, detailing key priorities and a project pipeline for investors and supply chains.

Property weekly highlights—5 December 2024

This week's edition of Property weekly highlights includes: guidance on high street rental auctions, a consultation on permitted insurance fees for landlords and freeholders, a remediation acceleration plan for unsafe cladding, a consultation on the EPC regime and cases on tenant fees, restrictive covenants and the calculation of mesne profits following an unlawful eviction in the context of insolvency.

A ‘novel’ case of business rates & barristers chambers (Kevin Prosser KC v Andrew Ricketts)

Local Government analysis: The Upper Tribunal in Kevin Prosser KC v Andrew Ricketts deals with the question of whether barristers’ chambers, comprising barristers’ rooms, clerking rooms, etc, room should be treated as a collective, single unit for the purposes of national non-domestic rates, or whether occupancy of individual rooms, was exclusive to the individual barrister, such that they ought to be separately rated. The Upper Tribunal held that the separate occupation of rooms by individual members of Pump Court Tax Chambers (PCTC), did not mean that they were in rateable occupation of their separate rooms because such did not undermine the joint occupancy arrangement of all members. Accordingly, the appeal was dismissed. Written by Katherine Traynor, barrister at Landmark Chambers.

MHCLG and DESNZ consult on Energy Performance of Buildings regime reforms

The Ministry of Housing, Communities and Local Government (MHCLG) and the Department for Energy Security and Net Zero (DESNZ) have launched a joint consultation on proposed reforms to the Energy Performance of Buildings (EPB) regime. The consultation seeks views on several measures aimed at improving the regime across five key areas: updating what Energy Performance Certificates (EPCs) measure through additional metrics, updating when energy certificates are required by refining the rules for obtaining EPCs and Display Energy Certificates (DECs), managing energy certificate quality, improving the accessibility of building performance data, and strengthening the quality of air conditioning inspection reports (ACIRs). The consultation closes on 26 February 2025.