New sustainable energy products using new and emerging technology make it difficult for insurance carriers to assess risk on green building projects.
Unlike on projects using standard materials, underwriters cannot look to many years of rigorous testing to see how products perform. This makes it hard to assess risk and offer policies on projects that use advanced features such as vegetative roofs, mass timber, or advanced solar panel technology.
New technology, materials, and construction methods can bring unforeseen risks, insurance executives say. Many green buildings have novel designs compared with those using conventional construction where much has been done the same way for years and the risks are well known.
Business interruptions caused by material damage in green building construction have generated costly and complex claims. These claims concern both the expense of replacing the damaged material and the amount of time it takes to replace it, especially given current supply chain difficulties.
Related Stories
Contractors | Jun 1, 2021
Swinerton to open its first New York City office
Andrew Pearl will head up the New York City Office.
High-rise Construction | May 27, 2021
The anti-high rise: Seattle's The Net by NBBJ
In this exclusive video interview for HorizonTV, Ryan Mullenix, Design Partner with NBBJ, talks with BD+C's John Caulfield about a new building in Seattle called The Net that promotes wellness and connectivity.
Contractors | May 25, 2021
Doug Woods, DPR Construction's cofounder, dead at 70
His management style stressed collaboration that can tackle complex projects.
Digital Twin | May 24, 2021
Digital twin’s value propositions for the built environment, explained
Ernst & Young’s white paper makes its cases for the technology’s myriad benefits.
Contractors | May 20, 2021
Balfour Beatty’s outreach to veterans pays dividends in leadership and growth
Contracts for work it’s done for the San Diego Unified School District have extended to several disabled vet-owned businesses.
Senior Living Design | May 19, 2021
Senior living design: Post-COVID trends and innovations
Two senior living design experts discuss the latest trends and innovations in the senior living building sector.
Multifamily Housing | May 18, 2021
Multifamily housing sector sees near record proposal activity in early 2021
The multifamily sector led all housing submarkets, and was third among all 58 submarkets tracked by PSMJ in the first quarter of 2021.
Wood | May 14, 2021
What's next for mass timber design?
An architect who has worked on some of the nation's largest and most significant mass timber construction projects shares his thoughts on the latest design trends and innovations in mass timber.
Healthcare Facilities | Apr 30, 2021
Registration and waiting: Weak points and an enduring strength
Changing how patients register and wait for appointments will enhance the healthcare industry’s ability to respond to crises.
