Novacore Introduces Environmental Segment as PFAS-based Claims Increase

In August 2026, Novacore introduced a new environmental segment, as it extended its platform to include environmental remediation and pollution liability risk. This launch comes at a time when 2 major insurers have left the site environmental liability market in the last few years, and the number of PFAS-based claims has increased quite significantly. This has created a gap in the market where the demand for reviewing claims is high, but the companies providing the service are relatively few.

This segment will focus on a re-engineered Environmental Remediation Cost Cap (ECC) product and a Pollution Legal Liability (PLL) product. The company also plans to announce underwriting and program details as Novacore Environmental intends to debut in the writing segment. 3 experienced environmental experts have joined the platform, namely:

Cole Russo has joined as the President, Environmental, as he has 30 years of experience in underwriting, broking, and claims management. Russo has been involved in the development of casualty and specialized insurance programs for Fortune 500 and large corporations in the industrial, chemical manufacturing, pharmaceutical, and financial industries. He is a former client executive and manager at Marsh, Willis and Aon, executive vice president at Crawford & Company, and founder and president of Cole Russo & Company.

Roland Costanzo has assumed the role of Chief Operating Officer and executive vice president of Underwriting. He has over 30 years of experience in company leadership, corporate environmental management, environmental claims management, underwriting management, consulting, reserve prediction, site remediation, and litigation support. He has previously been a senior manager at AIG and a senior corporate environmental manager at the Hertz Corporation.

Al Nesheiwat has joined as the vice president, senior underwriter, and has more than 3 decades of experience in executive and technical roles in insurance, petroleum, chemical, real estate, and energy industries. He worked for 14 years at AIG, where he managed the scientific, technical, and regulatory activities of its environmental claims consulting group. He has also been the director of environmental affairs for Witco Chemical Company.

Impact on the Chemicals Industry

According to Precedence Research, this new environmental segment will help chemical manufacturers avail reliable consultation and management services in the wake of rapidly changing environmental legislation. National governments are constantly updating the laws regarding the usage of synthetic chemicals, emissions, ingredient usage, and purity.

Public departments are banning raw materials that were previously used for multiple decades, but recent advanced scientific research shows proof of their harmful nature. Per- and polyfluoroalkyl substances, also known as PFAS, have the reputation of being “forever chemicals” as they build up in the body and have several side effects, some of which include heightened cancer risk and hormone levels deviating beyond a healthy range.

Impact on the Environmental Remediation Market

The global environmental remediation market size was estimated at USD 142.17 billion in 2025 and is predicted to increase from USD 162.96 billion in 2026 to approximately USD 542.12 billion by 2035, expanding at a CAGR of 14.32% from 2026 to 2035.

According to Precedence Research, the launch of the new environmental segment is expected to benefit the environmental market as it caters to the increasing demand for regulatory compliance consultation and services in the chemical sector. Governments are constantly updating and strengthening the laws regarding carbon emissions and fossil fuel usage. The concept of carbon trading, which has been introduced recently, allows companies to reap financial benefits from low carbon emissions. Governments have also introduced sustainability laws wherein chemical companies need to judiciously use non-renewable natural resources. 

Impact on the Environment Consulting Services Market

The global environmental consulting services market size was estimated at USD 46.67 billion in 2024 and is predicted to increase from USD 50.38 billion in 2026 to approximately USD 100.29 billion by 2035, expanding at a CAGR of 7.95% from 2025 to 2035.

According to Precedence Research, the launch of a new environmental segment in Novacore is expected to positively impact the environmental consulting services market. This is because the harmful effects of various chemicals in routine products are increasing among citizens.

There are various unions that file lawsuits against chemical manufacturers if such harmful chemicals are found in their products, or if their waste management is not optimal and they are releasing toxic substances into the air and water. This can attract penalties or even operation license cancellation for the manufacturers. This helps explain why they are availing regulatory compliance consulting services.

About Novacore

Novacore is a specialty insurance company that has significant experience in underwriting and carrier relationships. The company provides rapid and easy quoting, structured workflows, and advanced tools. The company was known as NSM when it was established in 1990 by Geof McKernan and Paul Norman, and its name was changed to Novacore in April, 2025. The company offers services in healthcare, real estate, reinsurance, alternative risk, and specialty transportation.