ESI provides a range of land quality services to companies operating within the finance industry and in particular finance companies providing equity for commercial developments and companies providing mortgages within the private sector. When lending for the purchase of property or if property is used as guarantee the lender needs to be aware that default could leave them as lender in possession and responsible for any liability relating to land quality issues.
As a worst case scenario a lender could be left with the liability of land contamination remediation which potentially could have greater cost than the value of the remediated land.
Risk of flooding is one key area where ESI can provide bespoke support to the insurance industry. In general property risk to flood is assessed through the use of generic reports covering fluvial and groundwater flooding. Many of these reports are based on large geographic areas and do not take into account individual factors that might either add to the risk or indeed highlight individual properties that have a low risk to flood whilst being in a high risk area.
ESI’s team of environmental consultants are ideally placed to provide innovative solutions to issues faced by the financial and insurance sectors.