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 | Jul 6, 2017
Paul Matt, builder of iconic structures in Southern California, dies at 85
His construction career spanned seven decades.
Accelerate Live! | Jul 6, 2017
Watch all 20 Accelerate Live! talks on demand
BD+C’s inaugural AEC innovation conference, Accelerate Live! (May 11, Chicago), featured talks on machine learning, AI, gaming in construction, maker culture, and health-generating buildings.
Architects | Jun 19, 2017
Preparing to negotiate: Get your head in the game
Logical and well-planned steps to effective negotiation.
| Jun 13, 2017
Accelerate Live! talk: Is the road to the future the path of least resistance? Sasha Reed, Bluebeam (sponsored)
Bluebeam’s Sasha Reed discusses why AEC leaders should give their teams permission to responsibly break things and create ecosystems of people, process, and technology.
| Jun 13, 2017
Accelerate Live! talk: Scaling change in a changing industry, Chris Mayer, Suffolk Construction
Suffolk’s CIO Chris Mayer talks about the firm’s framework for vetting and implementing new technologies and processes.
| Jun 12, 2017
Accelerate Live! talk: From job site to factory, the future of commercial construction, Tyler Goss, Turner
Turner Construction’s Tyler Goss presents the construction giant’s breakthrough “job site as a factory” initiative.
| May 30, 2017
Accelerate Live! talk: Finding the money for your clients' projects, Paul Westlake, Jr., DLR Group|WRL
Architect Paul Westlake, Jr., shares his methods for adding value to projects through creative financing.
Daylighting | May 30, 2017
Sun, sky brightness, and glow: Making the most of daylight [AIA course]
To some project teams, “daylighting” means using glass area to admit direct sunlight, period.
Security/Fire Protection | May 30, 2017
Security begins when you close the door [AIA course]
Selecting door and window systems for any building project demands a complete articulation of safety and security concerns.
Codes and Standards | May 30, 2017
Industry Groups move toward Unified Green Building Model Code in 2018
The effort involves combining ASHRAE's Standard 189.1 with the International Green Construction Code.