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
| Feb 6, 2012
Siemens gifts Worcester Polytechnic Institute $100,000 for fire protection lab renovation
Siemens support is earmarked for the school’s Fire Protection Engineering Lab, a facility that has been forwarding engineering and other advanced degrees, graduating fire protection engineers since 1979.
| Feb 2, 2012
Call for Entries: 2012 Building Team Awards. Deadline March 2, 2012
Winning projects will be featured in the May issue of BD+C.
| Feb 2, 2012
VLK Architects selected for new Cypress, Texas elementary school
The Bridgeland Elementary School will be a new prototype school for the District. Designed to meet the requirements of The Collaborative for High Performance Schools.
| Feb 2, 2012
Mortenson Construction to build 2.4 MW solar project in North Carolina
Located on a 12 acre site in the Sandhills region, the 2.4 megawatt (MW) system is expected to generate approximately 3.5 million kilowatt hours (kWhs) of clean electricity on an annual basis.
| Feb 2, 2012
Shawmut Design and Construction launches sports venues division
Expansion caps year of growth for Shawmut.
| Feb 2, 2012
Fire rated glazing helps historic university preserve its past
When the University embarked on its first major addition since the opening of Hutchins Hall in 1933, preserving the Collegiate Gothic-style architecture was of utmost importance.
| Feb 2, 2012
Delk joins Gilbane Building Co.
Delk to focus on healthcare construction programs and highly complex higher education facilities for Gilbane Building Company’s Southwest region.
| Feb 2, 2012
Next phase of construction begins on Scripps Prebys Cardiovascular Institute
$456 million Institute will be comprehensive heart center for 21st Century.
| Feb 1, 2012
Increase notched in construction jobs, but unemployment rate still at 16%
AGC officials said that construction employment likely benefited from unseasonably warm weather across much of the country that extended the building season.
| Feb 1, 2012
Replacement windows eliminate weak link in the building envelope
Replacement or retrofit can help keep energy costs from going out the window.
