This Article Full Text (PDF) References Alert me when this article is cited Alert me if a correction is posted Citation Map Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via Google Scholar Citing Articles via Scopus Google Scholar Articles by Wernstedt, K. Articles by Yount, K. R. Search for Related Content Social Bookmarking                         What's this?

Insuring Redevelopment at Contaminated Urban Properties

Resources for the Future

Peter B. Meyer

University of Louisville

Kristen R. Yount

Northern Kentucky University

Environmental insurance (EI) can facilitate the redevelopment of potentially contaminated sites in distressed urban areas by providing a means to manage the environmental and financial risks at these properties. We draw on a survey and interviews of private brownfield developers to provide information on current EI utilization, factors that affect this, and ways in which public officials can facilitate its use when appropriate. We find that EI appears particularly relevant at sites where high-risk financing capital is used, off-site contaminant migration is likely, institutional controls are prevalent, or when developers lack adequate risk spreading across their project portfolios. Local governments and nonprofit organizations can promote EI use at both private and public properties through information dissemination, direct use of insurance-based risk transfer tools, and financial subsidies to developers for EI use.

Key Words: brownfield • environmental insurance • liability • remediation • contamination

Public Works Management & Policy, Vol. 8, No. 2, 85-98 (2003)
DOI: 10.1177/1087724X03256443


CiteULike    Complore    Connotea    Del.icio.us    Digg    Reddit    Technorati    Twitter    What's this?