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 17, 2021
Buffalo’s parking reform having noticeable impact on development
Elimination of mandatory parking allotments encourages new projects.
Codes and Standards | Jun 16, 2021
Inconsistent building codes make some states more vulnerable to hurricanes
Florida takes top spot for strongest building code in latest IBHS survey.
Codes and Standards | Jun 15, 2021
Growing housing supply gap will worsen affordability crisis
Supply projected to fall 4.5 million units short in 2022.
Codes and Standards | Jun 15, 2021
Florida will allow virtual inspections, building code enforcement, permit issuance
New law will go into effect on July 1, 2021.
Codes and Standards | Jun 10, 2021
New York City cracks down on construction site safety
Buildings Dept. issues new safety legislation for City Council consideration.
Codes and Standards | Jun 9, 2021
ASHRAE updates health care facility ventilation standard
Includes improved guidance on thermal comfort, revisions to air filtration requirements.
Codes and Standards | Jun 8, 2021
American Wood Council releases new fire design specification
For design of wood members, assemblies, and connections to meet code requirements.
Codes and Standards | Jun 7, 2021
Guide provides strategies to overcome barriers to sustainable affordable housing
International Living Future Institute document helps with social, regulatory, and financial hurdles.
Codes and Standards | Jun 3, 2021
Conversion of large office buildings to residential will require revamped regulations
Post-1960 offices present ventilation, daylighting, and other challenges.
Codes and Standards | Jun 2, 2021
Dept. of Energy releases EnergyPlus and OpenStudio updates
New features include Python Plugin features and additional tabular reporting options.