Consulting Practice of Timothy T. Greene, Ph. D.

• Insurance Archaeology
• Strategic Environmental Management
• Environmental Facility Audits

For a direct link to Tim’s website, click on: www.gcradvisors.com

Retained by risk managers, general counsels, and insurance coverage attorneys to complete insurance archaeology projects, much of Tim’s work has focused on locating policy information and developing policy evidence sufficient to prove coverage. Comprehensive searches have covered corporate records, third party records including the Lloyd’s archives, witness interviews, and government document reviews.

Dr. Greene’s work in this field includes an ongoing archaeology project for a major global consumer products company that is facing asbestos and environmental claims. The company’s insurance records were lost in a records storage facility fire. Thus far, he has identified over $100 million in new limits without reliance on the typically available corporate records.

Additionally, he has:

• Located over $800 million in primary general liability and umbrella / excess insurance coverage for an automotive equipment manufacturer facing asbestos mass tort claims. Along with corporate risk manager and coverage counsel, he advocated claims with the identified insurers to settle $15 million in outstanding defense and indemnity costs under this coverage.
• Interviewed multiple witnesses and arranged their sworn statements to substantiate secondary evidence of coverage for a major oilfield services company. To reconstruct worker’s compensation and general liability insurance programs to founding of company in the 1940s, he conducted interviews with the company’s founder as well as with past and present corporate staff.
• Conducted a triage of multiple Potentially Responsible Parties (PRPs) at a complex site on behalf of the lead PRP, which is considering its cost recovery options. As part of this effort, he rated and ranked over 50 target entities according to their potential for recovery from available, provable, solvent insurance.
• Performed a due diligence archaeology project for a well-known private equity firm acquiring a conglomerate’s diverse assets out of a bankruptcy. In so doing, he identified multiple lines of insurance coverage, as well as indemnities given and received.

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Strategic Environmental Management (SEM) focuses on quantitatively analyzing and modeling environmental compliance, risk management, and clean-up decisions. Similar to portfolio management approaches used to select capital expenditure projects, this systematic approach is prompted by the need for cost-effective use of limited resources as companies establish corporate priorities for site cleanups and other environmental projects. SEM project deliverables are also used as inputs into setting reserves and as inputs into insurance coverage processes.

Dr. Greene’s experience in SEM projects includes:

• Superfund site portfolio management for a major global tire and rubber corporation. He completed financial models of claim, litigation and environmental risks for FAS 5 reserving and maintained and updated such information with the corporate Treasurer.
• Developed and presented econometric models (stock price event studies) to a corporate general counsel seeking to evaluate compliance strategy choices related to federal hazardous waste laws. For example, he tested the question of whether to be a leader or a laggard as new law or regulations progressed from proposal to implementation.
• Established and supported an operational risk management process for an inland marine and towing company’s 1,500-barge fleet. This included merging route information on load origins, routes and destinations with (1) chemical / product hazard information and (2) revenue, expense and margins to prioritize and focus risk reduction efforts on the highest risk barge movements.
• Created and implemented systems to measure, score and rank SEM performance as part of the Self-Assessment and Improvement Process (SAIP), a tool that enables organizations to appraise and enhance their performance on questions of corporate ethics, governance, and social responsibility (See http://www.stthomas.edu/business/centers/saip/). Dr. Greene also created, implemented, and maintained proprietary SEM metrics for two socially responsible investors - a registered investment advisor in the U.S. and a high net worth individual in Italy.

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Environmental health and safety managers, risk managers, and plant managers often benefit from the input of "an extra set of eyes" as they work to identify and manage risks in their operations and supply and distribution chains. Dr. Greene is regularly retained to structure risk-aware organization-wide environmental facility audit programs. Such programs encompass traditional environmental issues and emerging physical security and product integrity concerns. In addition, he has conducted facility audits with and on behalf of corporate management in the context of mergers and acquisitions in order to establish "base case" environmental conditions at deal closing.

Dr. Greene’s experience with facility-specific work includes:

• Annual review and walk-through of production facilities of a major name brand food manufacturer, as well as end-to-end review of site security, operating practices and procedures, and emergency response plans; and coordination with long-term planning to achieve zero emissions of wastewater.
• Establishment of a facility audit information management program for a multi-site manufacturer. Among other things, he identified all programs and business functions generating information about environmental performance of the businesses’ thirty-five plants in North America. He also developed corporate policy and procedures for information management, retention, circulation, and confidentiality.
• Pre-closing inspection and documentation of a steel mill to establish the environmental condition of the property as delivered by the seller at closing. Conducted observational site visit, records search of state and federal enforcement databases and other relevant environmental data sources; documented chemical inventories on site; determined presence of spill protection, countermeasure and control measures; observed storm water provisions; and interviewed current facility manager, environmental manager, safety manager, and other key employees.

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