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CY 2004 GOALS & OBJECTIVES: In order to achieve our mission and continue our desired rate of growth, Pollution Risk Services is focusing on the goal of strengthening/solidifying our place in the market by meeting the needs of clients through even more innovative, cost-effective risk-transfer solutions .
In order to achieve our goal of strengthening/solidifying our place in the market, the following objectives will be completed during CY2004:
1. Financial Objective:
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As of January 1, 2004 , Pollution Risk Services is positioned to sign 8 contracts for a total of $40,000,000.00. As these projected contract/dollar figures are achieved, Pollution Risk Services will add Business Development staff. As Business Development staff are hired and trained, the total number of contracts/dollars realized will increase proportionally.
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See Exhibit A.
2. Staffing Objective: As of January 1, 2004 , Pollution Risk Services is staffed to sign 8 contracts for a total of $40,000,000.00. At this time, Pollution Risk Services is hiring another Business Development staff and Project Manager. Once hired and trained, the total number of contracts/dollars realized will increase proportionally. As each new contract/dollar figure milestone is approached/achieved, Pollution Risk Services will increase its staff relative to the needs and growth of the company.
3. Competitive Advantage Objective: As of January 1, 2004 , Pollution Risk Services is effectively and efficiently carrying out our stated mission. In addition to our stated mission, our CY 2004 goal is to strengthen/solidify our place in the market by meeting the needs of clients through even more innovative, cost-effective risk-transfer solutions. To that end, we have introduced two new Business Units within Pollution Risk Service that will enable us to achieve our CY 2004 goal:
- Risk Assumption Unit
- Real Estate Development Unit
Through the introduction, development, and growth of these two Pollution Risk Services units, we will be able to provide the following innovative programs/services, giving us the competitive advantage we need to realize our CY 2004 goal:
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Reinsurance & Risk Assumption Program: On December 28, 2003 , Pollution Risk Services introduced a revolutionary cost-capping and risk-eliminating service that will make us a leader in environmental remediation. Rather than using client dollars to purchase costly reinsurance carrier reinsurance policies for each project, Pollution Risk Services has a Risk Assumption Business Unit which utilizes company assets and insurance premiums to fully collateralize any cost overruns up to the level the project requires. Pollution Risk Services is so certain of our ability to deliver contract specifications; we put our own assets at risk to secure any/all cost overruns.
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Real Estate Transfer Program: As outlined above, Pollution Risk Services' remediation contracts and Reinsurance & Risk Assumption program allow us to assume the responsibility of restoring the contaminated site to regulatory compliance. This is the plan of action many responsible parties choose.
Over the past two years, it has become apparent that a growing number of responsible parties not only seek to transfer liability to Pollution Risk Services but would like for Pollution Risk Services to assume complete ownership of the land as well. This is the Clean Sweep Program and entails Pollution Risk Services taking ownership of the land, using the cost of the land to offset remediation costs, and redeveloping the land. This program removes responsible parties completely from any potential future environmental risk/responsibility associated with the property.
Over the past two years, it has become apparent that a growing number of responsible parties not only seek to transfer
liability to Pollution Risk Services but would like for Pollution Risk Services to assume complete ownership of the
land as well. This is the Clean Sweep Program and entails Pollution Risk Services taking ownership of the land, using
the cost of the land to offset remediation costs, and redeveloping the land. This program removes responsible parties
completely from any potential future environmental risk/responsibility associated with the property.
FUTURE LOOKS BRIGHT: As outlined above, Pollution Risk Services is not only achieving its stated mission but is looking toward the future with a plan and purpose. Each action Pollution Risk Services takes is guided by the goals and objectives laid out in this plan. Though this plan allows for business growth and development, Pollution Risk Services will annually revisit and revise its business plan to ensure its place in the market. Innovation and meeting customer needs is our passion, and we will continue to move forward to achieve our mission and goals. |
