How Inclusive are Your Mold Coverage Terms?

By Ivy Riggs, Executive Underwriter

Because mold coverage has been readily available for at least a decade, many tend to treat it as a check box on a list of desirable policy features. If the quote you procure allows you to check the box, you’re good to go. Right? Not quite so fast…

Insurance carriers’ terms for providing mold coverage are far from standardized, just as their pricing and underwriting parameters vary widely. What is your insured actually getting for their money? To examine this question in greater detail, this article will focus on how causation emerges as a critical component in evaluating the terms proposed to your client. Read the complete article.

Highlight: Non-Environmental Contractors

When you think of pollution exposures, what comes to mind? A toxic waste dump? People in hazmat suits and gas masks? There is a common misconception in our industry about pollution exposures. “If my client doesn’t deal with hazardous materials, then he or she doesn’t have an exposure.” Yes — anyone handling radioactive, explosive, toxic, or biohazardous material certainly has an exposure. But in reality, ALL contractors have an exposure to pollution.

CGL policies exclude most claims arising from a “pollution condition.” A pollution condition is generally a release of pollutants. According to many CGL policies, a pollutant is any solid, liquid, gaseous, or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, and waste. Read more.

Recent Success Stories

  • HVAC/Mechanical contractor in Florida with $12M in receipts purchased CPL with Occurrence Mold. A $1M/$1M limit and $25k deductible was offered for $11,058.
  • Used auto sales company purchased a $5M/$5M Site Pollution policy for $11k.
  • A $7M Street/road contractor purchased a CPL policy with a $1M limit for $5,088.
  • $3.5M Environmental consultant bought GL/CPL/E&O and a $4M Excess policy for $30,262 total.
  • $2.7M Restoration contractor  purchased GL/CPL/E&O for $16,285.
  • $9M General contractor purchased a $1M/$1M CPL policy for $5,952.
  • $13M Soil excavation/grading contractor purchased a $1M/$1M CPL policy for $6,945.