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Green Construction Projects Come with New Materials, Methods, Risks

Aug 9, 2022

Green construction is growing, as companies strive to create more sustainable, energy-efficient, resilient buildings. As outlines, however, sustainable construction projects use new technologies, materials, and construction methods that create unforeseen challenges and risks:

  • Most sustainable production plants use emerging technologies that haven鈥檛 been extensively tested, making it difficult to gauge product performance or accurately measure risk. Since green projects have more 鈥渦nknowns,鈥 their risk exposure is higher versus 鈥渢raditional鈥 construction, where materials and processes are more established.聽
  • Damages to materials may lead to project delays while builders wait for replacements. Thanks to supply chain issues and labor shortages, these delays may cause business disruptions that result in expensive insurance claims.
  • Companies may need multiple insurance carriers to cover large, complex sustainable construction project risks. However, due to the uncertainties around the untested material and potentially high claims, not all carriers are willing to provide coverage.
  • The government is incentivizing efforts to adopt new building codes that reduce energy consumption and minimize the nation鈥檚 carbon footprint. These incentives will likely increase green building projects which will then amplify these challenges until things like labor shortages, supply chain issues, and capacity concerns catch up.

Insurers are being conservative, working closely with brokers and clients to learn more about the materials and methods being used before agreeing to cover green projects.

麻豆放映免费 has extensive experience assessing the risks of new and often untested building materials and methods, as well as protecting sustainable construction projects and other green building efforts. Please contact us for more information.

The 麻豆放映免费 Construction Insurance Team

The 麻豆放映免费 Construction Insurance Team

麻豆放映免费鈥檚 construction experts specialize in a variety of construction-related coverages鈥攆rom commercial general liability and professional liability to wrap-ups and workers鈥 compensation, and beyond. 麻豆放映免费 has dedicated teams of construction brokers for every risk type, account size, and geographic area in the country. We have broad market access to brokerage and binding authority and can offer exclusive program solutions to fit any construction need.
construction | environmental | green building | sustainable

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