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- W2471989241 abstract "This paper focuses on third-party personal injury liabilities to which an environmental restoration contractor might be subject. A first-order probabilistic model is presented which seeks to roughly approximate the process by which an injured party would seek recovery against an environmental restoration contractor. It is designed to arrive at an estimate of the expected value of risk associated with this particular liability. The model indicates that a major source of claims could come from people who have experienced injury in the form of cancer and allege that its source is related in some way to the hazardous waste site, but who in fact acquired injury in another way. The model, reflecting data reported in recent tort literature, shows this class of potential plaintiffs to represent a significant source of financial risk to the environmental restoration contractor. Environmental restoration contractors find it prudent to carefully manage and control their operations to minimize exposing the public to the risks inherent in hazardous waste site remediation work. However, the contractor`s efforts to reduce the risks associated with cleanup operations may not be sufficient to adequately limit their own exposure to third-party liability associated with this class of plaintiff. This suggests that a contractor`smore » risk management strategy should include a variety of additional elements beyond assuring that best practices and highest standards are followed on the site. Some additional considerations for risk management in these circumstances are suggested.« less" @default.
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- W2471989241 date "1994-12-31" @default.
- W2471989241 modified "2023-09-23" @default.
- W2471989241 title "Another look at sources of financial risk in environmental restoration contracts" @default.
- W2471989241 hasPublicationYear "1994" @default.
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