Managing the environmental liabilities associated with the purchase, sale and development of properties can be an extremely costly and complex task. Property managers and real estate developers must be vigilant in identifying and monitoring environmental risks to avoid losses.
The environmental due diligence process seeks to identify potential liabilities. An essential step is evaluating the property for contamination–a stage that typically generates a staggering volume of environmental site assessments, regulatory correspondence and other legal documentation to review and retain.
Traditionally, managing this mountain of environmental information has been a daunting task. Today, however, technology provides organizations with the ability to effectively manage the multifaceted environmental due diligence process and, at the same time, streamline the environmental insurance submission and renewal process.
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