Environmental Liability IQRM

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What is IQRM?

The IQRM (Intelligence Quotient for Risk Management) is the first step to identifying the risks that most greatly affect your business.

Why IQRM?

With this integral piece of The Insurance Market’s Armour 360® process, we will ensure you receive a comprehensive program that maximizes your insurance investment.

How IQRM works?

We will work together to analyze the effectiveness of managing risks, develop strategies to protect your assets, and improve your risk profile. Additionally reducing your insurance costs, monitoring, and fine-tuning risk management programs as your business evolves.

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1. How well does your organization understand the potential exposure risks of pre-existing environmental conditions on properties you are acquiring?(Required)
2. To what degree does your organization understand the potential exposure risk of property contamination from historical usage?(Required)
3. To what extent is your organization aware of all relevant environmental regulations industry standards and have determined that you are in compliance?(Required)
4. How would you rate your organization’s understanding of the cleanup and liability associated with the disposal of waste/materials at disposal facilities or recyclers?(Required)
5. To what degree has your organization documented and implemented Operations and Maintenance (O&M) Plans for all HVAC, mechanical, and electrical systems?(Required)
6. To what extent has your organization developed programs to prevent catastrophic releases (e.g., risk management plan, process safety management plan, spill prevention, control and countermeasure (SPCC) plan) and are employees trained in these incident response plans?(Required)
7. How effective is your communication within all parts of your organization to ensure that all incidents that could lead to an actual claim are reported quickly and accurately?(Required)
8. To what degree has your organization considered the need for purchasing environmental liability coverage in addition to commercial general liability (CGL) coverage?(Required)
9. To what extent has your organization asked your insurance agent or broker about optional coverage enhancements?(Required)
10. How would you gauge your organization’s understanding of the definitions of and differences between “occurrence-based” and “claims-made” liability coverage?(Required)
11. To what degree has your organization disclosed all related entities (including ownership/ affiliation and nature of services) on your professional liability application and indicated those for which coverage is desired?(Required)
12. How effective is your agent at ensuring you have completed and signed a detailed environmental underwriting application?(Required)
13. How effective has your organization been at ensuring you have formal insurance requirements for all subcontractors (including qualifications) while also maintaining current certificates of insurance and policies?(Required)
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Phone 302.875.7591 Fax 302.875.7541
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Phone 302.875.7591 Fax 302.491.4862
105 NE Front St. Milford, DE 19963
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