Brownfield Re-Development

There are thousands of brownfield sites across Canada. Re-development of these sites has been stalled because of uncertainty surrounding the cost of of the remediation project, availability of financing, and fear of liability from dealing with a contaminated site.  The introduction of brownfield legislation should help address some of these concerns. However, significant risk still remains in any brownfield remediation project.

Insurance can play a significant role in eliminating or reducing the uncertainty that exists for all parties involved in a brownfield site, thus further facilitating cleanup activities. Insurance is vital to municipalities, city governments, owners, developers, contractors, engineers and other environmental specialists, since insurance can protect these entities from the risks inherent to the remediation process. Often, environmental insurance providers offer flexible and responsive insurance products in order to facilitate the initiation and eventual completion of a brownfield project. CMD can help your firm design a suite of risk management products to better manage liabilities by ensuring that unexpected costs don't make investing in contaminated property an unknown financial proposition.

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