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 16, 2014
Bio-based materials could transform the future of sustainable building
Recent winners of the Cradle to Cradle Product Innovation Challenge include a brick made from bacterial byproducts and insulation created from agricultural waste products.
| Jan 16, 2014
The incandescent light bulb is not dead
Despite misleading media reports, January 1 did not mark a ban on the manufacture or import of 60-watt and 40-watt incandescent bulbs.
| Jan 16, 2014
ASHRAE revised climatic data for building design standards
ASHRAE Standard 169, Climatic Data for Building Design Standards, now includes climatic data for 5,564 locations throughout the world.
| Jan 15, 2014
ConsensusDocs releases updated subcontract for federal work
The new version addresses recent changes in federal contracting.
| Jan 15, 2014
First quarter 2014 LEED rating system addenda now available
There are 71 new LEED Interpretations, including 65 for Homes and Multifamily Midrise.
| Jan 10, 2014
What the states should do to prevent more school shootings
To tell the truth, I didn’t want to write about the terrible events of December 14, 2012, when 20 children and six adults were gunned down at Sandy Hook Elementary School in Newtown, Conn. I figured other media would provide ample coverage, and anything we did would look cheap or inappropriate. But two things turned me around.
| Jan 8, 2014
Strengthened sprinkler rules could aid push for mid-rise wood structures in Canada
Strengthened sprinkler regulations proposed for the 2015 National Building Code of Canada (NBCC) could help a movement to allow midrise wood structures.
| Jan 8, 2014
New materials should help boost sustainability in cities by 2020
Newer developments include windows made with nano-crystals that control intense heat penetration while lighting living areas from the outside.
| Jan 8, 2014
Architect sentenced to a year in jail for firefighter's death
Architect Gerhard Becker was sentenced to a year in LA county jail after pleading no contest to the manslaughter of a firefighter who died while trying to contain a fire in a home the architect had designed for himself.
| Jan 8, 2014
United Association, NRDC seek major plumbing code changes
Proposed changes include mandating the insulation of hot water piping in new buildings.
