A.Steve Williams, senior
vice president with Heffernan Insurance Brokers in
San Francisco, Calif., responds: Claims
against contractors brought by those who suffer
from mold ailments are severe and costly.
Fortunately, there are affordable insurance
coverages available to contractors to protect them
against such claims.
Before seeking out a new policy or coverage
plan, contractors should review their current
insurance policy to determine if they are covered
against mold claims. Commercial liability policies
that have covered mold claims in the past, when
they’re renewed, may exclude mold, so GCs
should be alert.
If your policy does not cover such claims, seek
out one that does, such as a pollution policy. In
the past, the premiums for such policies ranged
from $10,000 to $25,000 per year, but they are now
much lower. Our company, for example, offers an
exclusive pollution policy for contractors, with
premiums starting at $2,500 for a $1,000,000