Overview

“Missouri Cobalt (ERT’s subsidiary) saw the potential of the mine and put together a plan to take it over, clean it up and get it back to productive use. This type of environmental risk transfer is a model that we hope can be adopted at other sites around the country.” (Remarks of EPA Administrator Andrew Wheeler at ERT’s Madison Mine site on July 31, 2019, the 20th Anniversary of the Superfund Redevelopment Initiative.)

Our combination of the primary funding trust (escrow), insurance products issued by top-rated insurers and our contractual indemnity is the most robust risk transfer program in the market place and fully addresses the full spectrum of environmental risk to the customer.

We BROADLY AND IN PERPETUITY indemnify the customer for the assumed environmental risk. This indemnity is collateralized by the assets purchased, an escrow account, fixed-price contracts and/or bonds with reputable contractors, and, in the event the indemnity fails, an “excess of indemnity” insurance policy which will “step in” for the indemnity provided by ERT.

In our typical program, we indemnify for all liabilities and claims arising out of, relating to or resulting from (i) the physical condition of the property, including any environmental conditions (whether known or unknown, suspected or unsuspected) above or below grade on or emanating from your property, which may have existed in the past, may now exist, or may exist in the future and which will affect the property; (ii) any release of or exposure to any hazardous materials occurring after our closing; and (iii) any actual or alleged non-compliance with any environmental laws or permits after our closing.