February 20, 2002—A group of insurance leaders who gathered for the Chelsea Groups annual look at the future of indoor air quality, revealed that good indoor air quality is increasingly important when considering the issuance of property insurance.
According to the Chelsea Group, a Chicago-based consulting firm specializing in indoor air quality, as the insurance industry learns how good IAQ and construction practices can reduce the risk of claim payouts and litigation, policy coverage and rate options will be developed that will motivate the use of those practices and make ignoring those practices very expensive.
In addition to issues surrounding “toxic” mold, actual and feared bioterrorism also will be a major factor in reshaping the IAQ market. A sense of urgency has developed to move from the research and product development phase to commercialized solutions, Chelsea Group principal Fred Bartl said.
“The industry leaders we spoke with agreed that there is no lack of opportunity, with a residential and commercial market that has the potential to grow to four or five times its current size,” Bartl said.
For more information about this years participants, visit the Chelsea Groups newsletter or the Chelsea Group online.
