January 24, 2003—The Insurance Information Institute reports that mold-related expenses cost companies that underwrite homeowners insurance $1.3 billion in 2001. As a result, some insurers have started excluding mold from their property-damage policies.
Mold in buildings is being blamed for health problems such as breathing difficulties, headaches, nausea, gastrointestinal ailments, skin rashes, severe allergic reactions, and neurological damage.
The American Industrial Hygiene Association offers the following advice to building buyers:
- Watch for clues on property tours such as leaks, wet spots, condensation, and stains or musty odors;
- Ask property managers, engineers, and occupants about mold;
- Obtain copies of all existing indoor air quality and mold reports;
- Consider performing a mold survey if warning signs exist; and
- Review property and casualty insurance for mold and environmental exclusions.
Based on a report from Safety Currents.
