BestWeek: Environmental Writers See Gold in New Brownfields.

OLDWICK, N.J. -- While several communities are up in arms over the U.S. government's proposal to shut down 33 major military bases around the country, environmental insurers are excited about business opportunities that would occur if the proposal receives the green light, according to an article in the July 4 edition of BestWeek.

If approved by the U.S. Congress and President George W. Bush this fall, the 2005 Base Realignment and Closure program also would lead the government to reduce the size of 29 bases and "realign" 775 others, according to the Pentagon.

The excitement over the latest governmental proposal stems from the fact that, compared to past base closures in 1991, 1993 and 1995, the 2005 round has significantly more bases listed, and some of the largest in terms of size and value of individual properties, experts say.

Another major factor that interests both insurers and developers going into this round is the prospect of moving much more quickly in the absence of much of the previous red tape. "In the past, if someone came to me and said they'd take over a base, I'd say call me in three years when you get through the paperwork," said Rick Craig, senior vice president in the environmental practice at Willis Insurance Group. "Now, we can see bases getting transferred within 12 months."

BestWeek is published by A.M. Best Co. for insurance professionals, including home office executives, agents and brokers. Among the other news articles you won't find anywhere else this week:

--As U.S. insurance industry efforts continue to push toward regulatory modernization, agents and brokers are sharply divided on the best vehicle to get them there. The biggest point of divergence is over support for an optional federal insurance charter.

--Amid high prescription drug costs, several U.S. health insurers are encouraging members to split certain high-use drugs as a way for members to slash their out-of-pocket co-payment costs up to 50%, with health insurers possibly reaping savings of their own along the way. Some of the biggest U.S. health insurers endorse the practice; others oppose it. Find out why.

--In states with great exposure to coastal risk the approach to regulation can determine how much homeowners insurance capacity is available to property owners. South Carolina and Florida differ substantially in their approach.

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