Over the years Restorical Research has had a number of clients that either operated a business or owned property that has spanned several generations. These are businesses and families who have worked hard and unfortunately, due to the nature of the businesses and operations, they suspect that there may be an environmental problem. This is … Read more

When insurance companies enter into agreements it is expected that they will act in good faith, acknowledging claims as valid if the policy is valid, or not uphold the deal provided there is good reason. What if an insurance company refuses to uphold an agreement without good reason? This results in a bad faith claim. … Read more

Interested in why historical insurance matters and what it can do for you? We’ve lined up ten things you should know about historical insurance policies, from why they’re still valuable to what types of policies to look for, and more. Keep Your Historical Insurance Policies Safe and Accounted ForHistorical insurance policies are lifelines when it … Read more

When making a commercial real estate transaction, hidden environmental liabilities can be devastating, costing up to millions of dollars in some cases. If you’re about to make a major property transaction including a purchase, sale, lease, or refinancing, then environmental due diligence will be a key tool for managing risks and avoiding liabilities. Environmental due … Read more

When dealing with an environmental contamination issue, businesses can easily feel overwhelmed. Common considerations owners have include the impact contamination will have on the business, costs to cleanup the problem, customers, employees, and the negative effect to their bottom line. Environmental contamination can mean a host of different things like soil and groundwater contamination. Whether … Read more

Most everyone (property owners, business owners, municipal government, financial institutions, etc.) cringe when they hear they have an environmental problem and they need to comply with the regulations imposed by a state agency and/or the Environmental Protection Agency (EPA). Often times, despite good advice, the prevailing wisdom may be to ignore the problem and hope it … Read more

At Restorical, we are commonly asked about the viability of old insurance carriers. For the most part, Comprehensive General Liability (CGL) policies from over 100 years ago are available to make environmental claims. The insurance industry has historically experienced tremendous consolidation, or a larger insurance carrier purchasing a smaller one, this preserves the continuity of coverage to present day. The purchasing carrier will retain the selling carrier’s historic liability regarding old insurance policies. The exception to this rule is in the case of an insurance carrier going out of business. While this is not common, it does happen and will continue to happen from time to time.

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Whether you keep your old insurance policies tucked away in alphabetical order in a filing cabinet or have lost them all together, there is always a chance they hold some sort of value to you, your business, and your future. From life insurance policies to industrial property insurance policies, the plans of yesterday can impact your future. In some cases, it could mean the difference of having a project financed or not. In other cases, it could mean losing out on the money you thought you were owed. Insurance policies hold their value much longer than you may think. As insurance archeologists, it’s our job to dig those old policies up and examine them.

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Insurance policies live much longer than you may think. In fact, many insurance policies retain their value long after the coverage date has ended, and, in some cases, that can lead to property redevelopment or clean up. While it may seem unlikely to you, the old insurance policies you have lost or tucked away in the back of a filing cabinet may just be the ticket you need to redevelop your property.

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