Newer materials for green, resilient building complicate insurance underwriting

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.

The number of considerations that go into starting a construction project are almost too numerous to count. Contracts, materials, labor, deadlines, even weather, to name a few. They vary from project to project, and any one of them can change in an instant, whether it be materials suddenly in short supply, labor that isn’t available for your particular kind of project (is it luxury hospitality or affordable residential?), or an unexpected phenomenon like Covid-19 that makes everything suddenly screech to a halt.

Contractors | Oct 4, 2022

Which comes first, the building or the cost estimate?

At the start of a project, don’t forget to establish financial parameters when you’re discussing the design and program. By establishing the costs up front, you can avoid the pitfalls that might derail your project and guarantee its lasting success.

Fire and Life Safety | Oct 4, 2022

Fire safety considerations for cantilevered buildings

Bold cantilevered designs are prevalent today, as developers and architects strive to maximize space, views, and natural light in buildings. Cantilevered structures, however, present a host of challenges for building teams, according to José R. Rivera, PE, Associate Principal and Director of Plumbing and Fire Protection with Lilker.

| Oct 4, 2022

Rental property owners want access to utility usage data for whole properties

As pressure from investors for ESG reporting mounts, owners of multifamily properties increasingly look to collect whole-building utility usage data.

| Oct 4, 2022

In dire need of affordable housing, Aspen, Colo. will get a development that provides 277 affordable homes

A few miles from downtown Aspen, Colo., a development will provide 277 new affordable homes for an area experiencing a dire affordable housing crisis.

Green | Oct 3, 2022

California regulators move to ban gas heaters for existing buildings

California regulators voted unanimously recently on a series of measures that include a ban on the sale of natural gas-powered heating and hot water systems beginning in 2030.