Property and casualty broker NFP has teamed up with Partner Engineering and Science (Partner) to bring the latter to businesses in need of Phase I Environmental Site Assessments, which are critical for obtaining environmental insurance for properties considered at risk.
Chris Alviggi, who leads the environmental risk practice at NFP, expressed enthusiasm about the collaboration, saying: “We’re excited to formally join forces with Partner and support companies that encounter environmental risk, such as evidence of historic contamination or an obligation to defend or indemnify lenders for environmental loss.
“Through this national strategic alliance, we can better serve the middle market with low-cost, baseline environmental risk assessments by providing a simple and efficient process for clients looking to acquire assets while mitigating risk.”
The significance of Phase I Environmental Site Assessments cannot be overstated for firms intent on either divesting or securing real estate holdings, including brownfields. Such evaluations are crucial for reducing risks and ensuring the financial steadiness of commercial real estate ventures.
Patrick Lorimer, Partner’s executive director, commented: “NFP recognizes the need for a more tailored approach to supporting the small and mid-cap markets by providing additional guidance in assessing their clients’ environmental risks.
“Partner understands this unique approach and provides support consistent with the needs of NFP and their clients. Our seamless and collaborative support allows all involved parties to make better coverage decisions.”
Sean Darcy, a managing member at NFP client Darcy Carbon, attested to the importance of the tie-up, noting: “This strategic alliance between NFP and Partner works very effectively and clears the way for us to secure the necessary environmental and pollution liability insurance we need, while also enhancing our ability to achieve our financial goals.”
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