Bob Spoth of Ecosystems Insurance Associates unravels the complexity and takes us to the front lines of what mechanisms are emerging for Mitigation Bank Financial Assurances in this 40-minute presentation for the National Environmental Banking Association (NEBA). Watch Presentation
This webinar is useful to anyone in the banking industry, but especially those looking to reduce costs and increase efficiencies when satisfying assurances for a mitigation bank. Spoth is one of the nation’s experts in this important field, and he remains today the only insurance broker in the US with a close working knowledge of the various regulatory agency's rules and practices at both federal and state levels. His business and practice were built by addressing the needs and risks of the mitigation banking industry.
In 2021, the National Environmental Banking Association (NEBA) is presenting six annual interactive Industry Updates for members on topics pertinent to the practice of environmental banking. NEBA – The Trusted Voice of the Mitigation Industry will continue sponsoring sessions with senior regulatory officials, industry experts and others intended to promote education and outreach for the industry.
About the Presenter:
Robert (Bob) Spoth is president and founder of Ecosystem Insurance Associates, LLC. His firm has provided more than $100 million in limits covered for mitigation projects and provided insurance in more than a dozen U.S. Army Corps Districts across the U.S. since its establishment in 2010.Spoth spent almost 30 years with the world's largest insurance brokerage firms specializing in providing advice, service and insurance brokerage to the construction sector. While working in that sector of the risk management community Spoth discovered a need for “financial assurance” for ecosystem restoration companies (Clean Water Act Section 404 permitting). His firm developed a specialty product, sought and received the support of an insurance company and finally had the product approved for use by the US Army Corps of Engineers. He started a small insurance agency to exclusively market the product and became the first and only insurance company to insure an offset credit of any sort.He has taught workshops and training courses for such organizations as the National Mitigation & Ecosystem Banking Conference, National Mitigation Banking Association and others.