At many sites, parties to a transaction have difficulty establishing a firm cost to remediate (clean up) a property. This uncertainty can lead to concerns for all involved parties including lenders, often resulting in transaction delays.

Fortunately, there are groups to whom you can turn that can fix your costs. These groups can combine technicial, regulatory management, and contracting approaches to provide you with a fixed priced contract to remove the uncertainty from your transaction.

InterRisk works with firms with the proven experience and expertise to bring your site to closure while absorbing the risk of any cost over-run. Typically, the risk is contractually transferred to a remediation firm which is then obligated to obtain closure.

Today, there are more options available to address a contaminated property. In some cases contamination can be left in place, in others remediation is necessary, while in other cases a combination of remediation and containment is best.

A firm with the experience to co-ordinate the various approaches, especially with regulators, is often the best firm to retain the liability for the risk. For example, they can efficiently manage any gaps that may arise between containment and remediation approaches for a property.

Assigning the risk to a liability assumption firm with the incentive to manage the risks effectively can be an attractive solution. InterRisk works with liability assumption firms to implement solutions that remove the risk and management burden associated with these properties. We structure liability assumption agreements that are contractually and financially sound.

Environmental insurance continues to serve as a valuable risk management tool. It can be used to support or replace indemnification agreements, replace guarantees and escrow accounts, and remove the need to offer a price reduction. Insurance can also be used to financially support performance-based contracts and liability assumption agreements.

Policies can be structured and implemented to meet the particular requirements for any transaction providing the financial strength that counterparties, lenders and tenants may require.

Like other solutions, a firm understanding of your transaction is required to obtain appropriate coverage. InterRisk works with insurance underwriters, on your behalf, to help protect your assets.

InterRisk structures and implements environmental risk management solutions to help clients divest, purchase, and redevelop contaminated property, to reduce their loss exposures, and to improve their financial condition.

InterRisk and its partners have addressed hundreds of properties throughout the United States regulated at the local, state and federal levels, including shopping centers, metal plating facilities, former smelting plants, landfills and service stations.

InterRisk's primary office is in CT with partner offices in CA, TX and VA.