the issue is that most policies will exclude mold etc, leaving the contractor with the option to obtain a stand alone environmental construction policy.
However these policies are always “claims made” which will not cover for the full term of construction defect (which is 3-9 years)
You can buy a stand alone environmental policy to include mold coverage (typically claims made). Provided you keep the pollution policy in force, the policy will be able to provide coverage for work going back to the date coverage was first bound, so the construction defect term of 3 to 9 years would not be an issue.
Additionally, you can always buy a project specific pollution policy with a term of up to 10 years (construction term plus extended reporting period). This will definitely get you past the construction defect statute of repose in most jurisdictions.
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the issue is that most policies will exclude mold etc, leaving the contractor with the option to obtain a stand alone environmental construction policy.
However these policies are always “claims made” which will not cover for the full term of construction defect (which is 3-9 years)
any ideas?
You can buy a stand alone environmental policy to include mold coverage (typically claims made). Provided you keep the pollution policy in force, the policy will be able to provide coverage for work going back to the date coverage was first bound, so the construction defect term of 3 to 9 years would not be an issue.
Additionally, you can always buy a project specific pollution policy with a term of up to 10 years (construction term plus extended reporting period). This will definitely get you past the construction defect statute of repose in most jurisdictions.