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
| Jul 5, 2012
Roof membrane could have prevented roof parking deck collapse, specialist says
The collapse of a section of a roof parking deck at the Algo Centre Mall in Elliot Lake in Ontario, Canada could have been prevented if the structure had a membrane, according to a concrete expert and specialist in structure analysis at McMaster University.
| Jul 5, 2012
New Joplin, Mo. hospital being built to withstand tornado that destroyed predecessor
After the May 22, 2011, EF-5 tornado destroyed St. John’s Regional Medical Center in Joplin, Mo., architects and engineers analyzed how the nine-story structure reacted to the storm.
| Jul 5, 2012
Continued tax breaks necessary for widespread adoption of net zero buildings
Tax breaks passed by the U.S. government to encourage construction of green buildings are set to expire in 2012 and 2013.
| Jun 28, 2012
Six buildings now recognized under Living Building Challenge
The Living Building Challenge (LBC), a green ratings system for design and construction that judges a building based on its actual performance, not just its projected performance at the design stage, has recognized six buildings to date.
| Jun 28, 2012
Label for building products will have ‘global warming number’
The director of the 2030 Challenge for Products says that the organization is aiming to place a label on building products that will list what’s in it, and how much embodied carbon each product represents.
| Jun 28, 2012
Top building material executive urges building resilience in sustainability standards
A meeting of 1,000 business executives at the recent Rio+20 environmental conference featured a passionate plea to include building resilience in efforts to boost sustainability.
| Jun 28, 2012
Following spate of skyscraper balcony glass panel breakages, Ontario adopts code change
Ontario's housing minister announced new building code rules to help prevent glass panels from breaking off high-rise balconies during hot weather.
| Jun 28, 2012
Factory worker deaths in Italy raise questions on building codes after earthquakes
Italian officials are questioning seismic building standards and inspection procedures in the aftermath of two damaging earthquakes.
