| THE ROX |
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What It Is
The Risk Online Connexion (ROX)™ helps owners transfer liability by providing a complete, organized presentation of environmental risk and liability information for review by specialized Risk Transfer Companies (RTCs). These specialized RTCs can, for a fixed fee, assume responsibility for the company’s legacy liabilities, where a transfer of ownership is not included (i.e., sites no longer owned or operated by the client and disposal facilities where the client historically sent waste).
RTCs use a variety of methods to assume legacy liabilities (indemnities, covenants, insurance and other risk-transfer mechanisms). RTCs charge a fee to provide risk transfer services to the client, which is based on their evaluation of the legacy liabilities and the means necessary to underwrite the associated risk. BMA is familiar with the most qualified RTCs and will work with the client to determine which RTCs should review and provide bids on their risk-transfer portfolios (Candidate RTCs).
How It Works
Selected RTCs are assigned secure and exclusive data rooms on the ROX™ website (separate or as a bolt-on to the BOX™), which BMA populates with key information regarding environmental risks and liabilities. Based on years of experience in coordinating risk transfer transactions, the ROX™ is designed to organize and present information to RTCs in a way that facilitates the most efficient review possible and helps ensure RTCs are able to provide bids based on a complete and accurate understanding of the review. Clients are charged an at-cost fee for use of the ROX™ (primarily for data collection and review services by BMA).
Based on their review of materials on the ROX,™ Selected RTCs provide preliminary bids for review by BMA and the client. BMA provides the client its expert evaluation of the bids received and its recommendation of an RTC (if any) to proceed through negotiation of the risk transfer.
What Are Its Benefits
The ROX™ has a number of benefits for companies with legacy environmental liabilities, including …
- The ROX™ allows owners to test the complex RTC markets through confidential reviews by leading risk transfer specialists (Selected RTCs);
- The ROX™ is confidential and secure. Selected Developers must execute a Confidentiality Agreement before gaining access to information on the ROX,™ which is maintained with state of the art security systems in place;
- Clients receive access to the ROX™ on an at-cost basis. BMA will coordinate data collection and upload and provide secure access to Selected RTCs and provide expert analysis of the bids received.
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