Risk Transfer Strategies
Keeping up with the changing world of environmental regulations can be difficult. Risk transfer strategies simplify the process and protect your assets.
We can ease your financial uncertainty by employing our risk transfer strategy (RTS) that helps resolve the unknowns related to environmental cleanup costs and the potential for changing regulations. Using an RTS contract, we can proactively manage costs associated with environmental liabilities, helping you meet your closure obligations and protect your balance sheet.
Under the traditional environmental cleanup model, an environmental contractor will provide an estimate of cleanup costs, leaving the risk of cost overruns and unknowns to be borne by the property owner or responsible party. RTS breaks this mold and provides an alternative.
We proactively manage environmental cleanup liabilities by contractually shifting cost risk from one party to another. Liability is transferred from the property owner to a contracting firm using a liability transfer contract backed by a specially designed environmental assurance program that covers potential cost overruns.
Our team uses RTS to establish fixed environmental remediation costs that are backed against overruns by financial assurance provided by Burns & McDonnell. The certainty provided by this model minimizes the impact of remediation cost fluctuations and overruns and lifts the burden of environmental cost liability from the shoulders of the property owner.
