Mold Claims Growing Fast
Wednesday, October 3rd, 2001 PropertyGrowing public health concerns could lead to more mold-related claims for risk managers, industry sources warn. "Mold claims have gone from no suits to thousands today that cannot be explained by science," according to Robert Hartwig, vice president and chief economist at the Insurance Information Institute in New York. Mr. Hartwig did not have supporting figures available, but plans to present a detailed study in the coming weeks looking at the cause of emerging claims and the impact of mold on the commercial and personal insurance markets. Insurance lawyer Joann Selleck of Cozen O’Connor in San Diego blames faulty building materials for the increasing number of mold claims. She also believes insurance adjusters who see mold claims as "a source of revenue potential for each claim filed" are driving up the volume of claims.
