Challenge

A commercial real estate investor wanted to obtain a business loan to refinance a property in South Florida. The loan provider required the borrower to be personally responsible for any environmental condition found on the property. The investor was concerned because the property previously had a known radon condition.

An environmental attorney suggested that the investor speak with Hylant.

Solution

Hylant assisted the client in conducting a thorough due diligence to showcase the preexisting radon condition and the measures undertaken to mitigate the issue. Including this technical information encouraged a thoughtful, considered underwriting response.

In addition to backstopping the owner's personal liability with five years of coverage for the preexisting radon condition, Hylant was able to enhance the client's commercial general liability and property protections by including coverage for mold, Legionella and other causes of poor indoor air quality commonly found in Florida.

With specialized knowledge, such as environmental expertise, Hylant adds value as well as transfers risk.