Insurance for mass timber projects still too high | America's "uniquely terrible" public transit | Canvassing LA's network of broken EV chargers
infrastruttura
no. 41
Premiums are coming down but insurers aren't sold (yet) on mass timber projects.
The benefits of using mass timber as the primary structural member in new construction are well-known; some studies peg the reduction in carbon footprint at over 70 percent compared to concrete and steel construction. Timber buildings are lighter so foundations are shallower, reducing material and labor costs. They can also shrink construction schedules and effectively guard against hazard risks (fire, earthquakes, hurricanes). So why are insurance premiums on timber jobs still stubbornly high? There are a few key reasons detailed in this interesting recent article from Risk & Insurance.