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
| Jan 31, 2014
Center for Environmental Innovation in Roofing releases solar panel racking criteria for asphalt shingle roof systems
The Center for Environmental Innovation in Roofing’s PV Taskforce is releasing the first public draft of PV Racking and Attachment Criteria for Effective Asphalt Shingle Roof System Integration for an initial round of public comment.
| Jan 31, 2014
Developers are exceeding LEED standards for marketing purposes
Using LEED certification as a marketing tool is perceived by developers to be a successful tool, and this has pushed them to go above the minimum requirements at each level of certification, according to a study in the Environmental Science & Technology journal.
| Jan 31, 2014
OSHA extends feedback period for disclosure of workplace injuries proposal
The Occupational Safety and Health Administration said it would extend the comment period for a proposal that would require employers to submit electronic reports of workplace injuries and illnesses.
| Jan 31, 2014
DOE releases new efficiency standards for halide lamps
The Energy Department has finalized new energy efficiency standards for metal halide lamp fixtures, which are used in lighting for big box stores and parking lots.
| Jan 31, 2014
New LEED online platform now available for LEED v4 projects
LEED v4 projects will be the first to experience the new LEED Online platform with streamlined documentation and processes.
| Jan 26, 2014
New York extends, enhances tax abatements to promote green roofs
The expansion of a tax-abatement program for green roofs under New York state law doubles the previous maximum benefit of $100,000, adds new plant species to the list of those applicable for the tax break.
| Jan 23, 2014
Washington state micro apartment law prompts fire safety concerns
Proposed legislation to further regulate the building of micro apartments has triggered appeals from community activists concerned that fire safety standards are sub-par.
| Jan 23, 2014
Pennsylvania owes school districts $1B for construction projects
The Pennsylvania Department of Education owes about $1 billion to numerous school districts for about 350 state-approved renovation and construction projects.
| Jan 23, 2014
About 1,500 concrete buildings in Los Angeles found vulnerable to earthquakes
Some 1,500 concrete structures built in Los Angeles before 1980 could be vulnerable to earthquakes, according to University of California researchers.
| Jan 23, 2014
Low-slope roofs with PVs tested for wind uplift resistance
Tests showed winds can cause photovoltaic panels to destroy waterproof membranes.
