Building Environmental indemnity insurance?

[mrloudly]

We're in the process of buying an industrial unit that has previously been occupied by a company that was involved in a process that used chemicals. We're having all the usual environmental surveys done, but as a back up, we would like some sort of separate indemnity insurance to cover us should any horrors turn up later. Does anyone have any info on this sort of stuff?
Thanks

[Ossiantoad]

Google Ace Environmental Liability. You'll need a broker though, perhaps PHer Insurance Jon can help.It's a tricky area because of a high degree of latency, in other words, problems take a long time to come to light and in reality, if the problems were caused by the previous owners then they and their insurers are liable however these things take many years to drag through the courts and in he meantime you are stuck with a property that you can't use or sell. You'll need to make very sure that any policy you buy is really going to give you meaningful protection.

If Insurance Jon can't help then I know a Lloyd's broker who may be able to.

[insurance_jon]

Thanks ossian. Yes we deal with ACE for Environmental Liability Insurance, happy to chat on tuesday when I'm back from holiday.

I'll pm you my details

[mrloudly]

Thanks guys, your help is much appreciated. The property is currently owned by a pension company. We've, in mind of the previous use, asked for an environmental report, to which they have agreed. Is it normal in these situations for the vendor to indemnify the purchaser through an insurance policy, or is this something we will have to undertake? To be fair, the chemicals used on site were nothing too obnoxious, but there is a large underground tank that I guess stored used liquids awaiting disposal. The unit was occupied by a "global" company, so I would like to think it's been administered properly...
Look forward to receiving your details.
Thanks!

[Max West Ins]

I specialize in environmental insurance and would be happy to help you. my last post was removed becuase it was deemed an advert, but i was simply trying to help you with a pollution risk with my experience. Feel free to contact me to discuss. Max West.

[insurance_jon]

But max your are based in the USA which works in different ways to the uk market. This is a UK forum

[Ossiantoad]

insurance_jon said:

But max your are based in the USA which works in different ways to the uk market. This is a UK forum

Very different.