ACE Advisory: Environmental Risks Emerge as Medical Facility Construction Increases
Regulatory changes, increasing competitive pressures and rapid technological advances are transforming the healthcare industry, including the construction of new state-of-the-art medical facilities. ACE Group today released a new advisory that examines the potential environmental risks facing new construction or renovation of healthcare construction projects. The advisory details the ways in which these risks can jeopardize patient health and lead to significant financial losses. It also provides risk management recommendations for construction and facilities management to help address these critical exposures and minimize the risk of pollution incidents at healthcare worksites.
“Sweeping Healthcare Changes Renew Focus on Environmental Risks of Construction” was co-authored by Gerry Rojewski, Vice President, Chief Underwriting Officer, ACE Environmental Risk; and Patrick Dorris, Associate Vice President for Real Estate Design and Construction, Penn Medicine. The advisory is the latest installment in ACE’s series of insurance and risk management perspectives for risk managers.
“As healthcare organizations build and expand their facilities to meet the modern standard of care, they must make sure they take appropriate steps to protect their patients, their businesses and their reputations from pollution exposures,” said Mr. Rojewski. “ACE’s Environmental Risk Practice advises clients on taking the necessary precautions ahead of time and building out a broad-based risk management strategy for any healthcare construction project. This includes securing comprehensive coverage for contractor related environmental exposures, which can ultimately help healthcare facilities better protect patients while mitigating pollution exposures and minimizing potential remediation costs.”
Key Highlights from the ACE advisory include:
- Impact of key healthcare industry challenges, including regulatory changes (Affordable Care Act), competition and technological advances, on healthcare facility construction/renovations
- Overview of environmental exposures relative to healthcare construction
- Risk Management recommendations and contractor pollution liability coverage considerations for healthcare construction projects
To access the report, please visit our website. The material presented in this report is not intended to provide legal or other expert advice. It is presented as informational only. Readers should consult legal counsel or other technical experts, as applicable, with any specific questions they may have.
ACE Environmental Risk, is a division of ACE USA, and part of ACE Group. ACE Environmental Risk offers a full range of environmental liability solutions designed to minimize bottom-line impacts, and provide hands-on management for those liabilities. For more information about ACE Environmental Risk and its range of products and services, please visit our website.
Insurance is provided by insurance companies within the ACE Group. All products may not be available in all jurisdictions. The product information above is a summary only. The insurance policy actually issued contains the terms and limits of the contract.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE:ACE) and is a component of the S&P 500 index. Additional information can be found at www.acegroup.com, or follow ACE on Twitter, https://twitter.com/ACEGroupNA.
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