International Risk Group Subsidiary, International Environmental Risk Underwriters, Underwrites $7.55 Million Environmental Liability Assumption.Business Editors LITTLETON, Colo.--(BUSINESS WIRE)--Feb. 8, 2001 International Environmental Risk Underwriters (IERU), a subsidiary of International Risk Group, recently completed the insurance underwriting of a $7.55 million environmental liability assumption. The fixed price assumption of environmental liability provided the means to efficiently close a 430-acre real estate transaction between a Fortune 500 chemical company and a real estate developer based in Manhattan, N.Y. The manuscripted insurance policy underwritten by IERU and issued by an A++ rated international insurance company based in New Jersey, along with dedicated capital backing, securitized securitized Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds. an environmental indemnity for known and unknown risk, including toxic torts A toxic tort is a special type of personal injury lawsuit in which the plaintiff claims that exposure to a chemical caused the plaintiff's toxic injury or disease. Different types Toxic torts arise in different contexts. and Natural Resource Damages. The indemnity is a vital component of the environmental liability assumption contract. The environmental insurance was initially assessed and brokered by Cherokee Environmental Risk Management (CERM CERM Center for Environmental Resource Management CERM Magnetic Resonance Center (Florence, Italy) CERM Center for Education and Research on Macromolecules (Liège, Belgium) ), the preeminent environmental insurance brokerage and risk management company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . IERU and CERM used their proprietary environmental knowledge to validate the actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin risk modeling approach for this contractual environmental liability assumption. This process allowed the insurance company to determine that the exposures were acceptable and provide support for the terms and conditions of the environmental liability assumption contract. International Risk Group and its two subsidiaries, International Environmental Risk Underwriters (IERU) and International Assumption Partners (IAP (Internet Access Provider) See ISP. IAP - Internet Access Provider ) are based in Littleton, Colo. International Risk Group provides a valuable range of solutions in risk underwriting and transfer, environmental liability management and fixed price contractual assumption of environmental liability. Cherokee Environmental Risk Management, the environmental risk management and environmental insurance brokerage subsidiary of Cherokee Investment Security, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , is based in Greenwood Village, Colo. |
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