Environmental insurance coverage has grown significantly in the construction industry over the last five years, according to William P. Hazelton, executive vice president, environmental and construction, for ACE Group.
Hazelton says that the recent escalation in demand for environmental coverage is primarily due to most construction contracts now including a requirement for the coverage along with other insurance. About five years ago, contractors didn’t need an environmental policy to bid on many projects, but today it’s almost always required.
Tighter regulatory requirements also factor into the trend. The U.S. Environmental Protection Agency is paying closer attention to intrusion of potentially harmful vapors into commercial and residential buildings. These can be from environmental contaminants in the subsurface that can be disturbed during construction.
Companies also need to be aware of air quality issues including from mold contamination, vapors from carpeting or furniture, and exhaust fumes from a loading dock located too close to a building’s ventilation system. These hazards can be addressed with pollution liability coverage.
Related Stories
Codes and Standards | Jun 6, 2017
New York City will require construction superintendents on buildings higher than three stories
New laws focus on construction safety.
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.
Codes and Standards | May 30, 2017
OSHA suspends electronic injury, illness reporting requirement
The agency is keeping records from being publicly disclosed—for now.
Codes and Standards | May 30, 2017
Florida preparing to adjust to new building elevation requirements
New floodplain maps and state code changes loom.
Codes and Standards | May 30, 2017
Heated debate over whether Calif.’s prevailing wage requirement stymies affordable housing
There’s disagreement around how much pay regulations add to cost of projects.
Codes and Standards | May 25, 2017
Technology is influencing parking requirement codes in new developments
Uber and Lyft make it easier for urban dwellers to live without owning cars.
Codes and Standards | May 25, 2017
Better Buildings Challenge Partners on track to reduce energy usage by 20% in 10 years
More than 1,000 proven solutions are now available on DOE web site.
Codes and Standards | May 22, 2017
Affordable housing initiative drives surge in residential unit permits in New York City
New permits tripled from year-ago period.
Codes and Standards | May 22, 2017
Amid labor shortage, industry groups urge government action to boost trades
AGC says a shortage of qualified workers is limiting the economy from adding more jobs.
Codes and Standards | May 19, 2017
Spate of sinkhole incidents points to neglected infrastructure investment
Suddenly appearing caverns cause deaths, evacuations, interruption of utility services.