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
Codes and Standards | Mar 19, 2019
Plan for transformation of Lower Manhattan streetscapes unveiled
Pedestrian-friendly “Slow Streets” pilot starts on Earth Day 2019.
Codes and Standards | Mar 15, 2019
Newly developed building materials could have big impact on sustainability
Transparent wood, self-cooling walls, bricks that filter air pollutants among the technological breakthroughs.
Codes and Standards | Mar 14, 2019
U.S. and Canada differ on how to evaluate field performance of windows, curtain walls
Variations include laboratory test method for determining rate of air leakage.
Codes and Standards | Mar 13, 2019
Climate change can’t be stabilized without addressing urban sprawl
Even if power goes green, transportation will still be a major emissions source.
Codes and Standards | Mar 12, 2019
Virginia county hones new rainwater harvesting standard
Developer prompts new rules to use rainwater for heating and air conditioning.
Codes and Standards | Mar 8, 2019
Portland delays requirement for posted warnings on unreinforced brick and stone buildings
Regulation would mandate signs warning that buildings could be unsafe during earthquakes.
Codes and Standards | Mar 7, 2019
California will allow flame retardant-free building insulation
State also repeals business furniture flammability standard.
Codes and Standards | Mar 6, 2019
Sixty six construction companies cited for wage theft violations in Massachusetts
Penalties total $2.7 million.
Codes and Standards | Mar 5, 2019
Persistent flooding having economic impact on coastal cities
Atlantic City, Annapolis among communities affected.
Codes and Standards | Mar 1, 2019
$1 billion Boston hospital project to include extensive disaster resiliency features
Mass. General expansion will be designed for four days of shelter in place.
