Hylant
Group Creates Unique Environmental Insurance Program
for a Clean
Ohio Fund Project
TOLEDO, Ohio - July 31,
2003 - Hylant Group, a Toledo, Ohio-based
independent insurance broker, has worked closely
with the City of Toledo and its consultant,
Hull & Associates on an environmental insurance
program for the remediation of the Marina/Arena
redevelopment project. The program allows for
this project to move forward with valuable protections
for the city and the Toledo Lucas County Port
Authority. It also broadens the ability for
smaller, disadvantaged business enterprises
to bid on parts of the project. AIG Environmental®
provides the insurance, underwriting pollution
coverage through AIG member companies.
The environmental insurance
program was a collaboration of Hylant Group,
Hull Associates, AIG Environmental® , the
City of Toledo and the Port Authority and is
the first of its kind for a Clean Ohio Fund
project. The Clean Ohio Fund designated $400
million of state money to preserve green space
and farmland, improve outdoor recreation, and
revitalize blighted neighborhoods by cleaning
up and redeveloping polluted properties.
The package has three main
features that will facilitate the clean up of
the site:
- A “Cleanup Cost
Cap” insurance policy that protects
the City of Toledo and the Port Authority
from cost overruns during the remediation
of the 125-acre site.
- A Pollution Legal Liability
policy, which will protect the city and the
Port Authority against covered third-party
environmental claims.
- A Contractor’s
Pollution “Wrap-Up” policy, which
provides pollution liability coverage for
contractors on site. This will allow smaller
and/or disadvantaged contractors who may not
be able to obtain environmental liability
insurance coverage to bid on work for the
project while protecting the City of Toledo.
Mayor Jack Ford was pleased
that the wrap-up policy was designed to meet
his objective of capacity expansion, a program
designed to assist small and disadvantaged businesses
participating in public improvement projects
taking place in Toledo, Ohio.
Hylant Group is proud to
have provided this solution for the Marina District
project. Patrick Hylant, Chairman and CEO states,
“We have always been active and proud
to participate in the development of the Toledo
community. We are gratified that Hylant Group
was able to help craft this unique environmental
insurance program for the redevelopment of the
Marina District.”
“Limiting uncertainty
in environmental issues is a key element in
redeveloping our urban cores. Environmental
insurance is one of the best tools for limiting
these uncertainties,” states Craig Kasper,
Vice President of Hull & Associates, Inc.
Founded in
1935, Hylant Group is a fourth-generation family
business focused on innovative risk management
and insurance solutions, as well as superior
client satisfaction. Headquartered in Toledo,
Ohio — and with offices in Ann Arbor,
Cincinnati, Cleveland, Columbus, Detroit, Fort
Wayne, Indianapolis and Bloomington —
The Hylant Group is the 32nd largest insurance
agent/broker in the country. Hull & Associates,
founded in Toledo by John Hull, specializes
in civil and environmental solutions for urban
redevelopment. Hull & Associates, Inc. has
additional offices in Cleveland, Columbus, Cincinnati
and Indianapolis.
# # #
The above described
coverage may not be available in all states,
and the above description thereof is neither
a complete description nor a complete list of
all terms, conditions and exclusions. Note that
certain terms used above are defined in the
policy. Please see the policy for a complete
description of its scope and limitations of
coverage. Issuance of coverage is subject to
underwriting. Insurance is underwritten by member
companies of American International Group, Inc.
Non-insurance products may be provided through
independent third parties.
