Insurance companies that have EIFS exclusions still exist. To many of you this is nothing new, so what’s being done to change this?
During the 2015 EIMA Annual Meeting, the Advocacy and Industry Relations Committee, chaired by Buck Buchanan, unveiled an insurance task force. The purpose of the task force is to take actions to improve the availability of affordable insurance coverage for EIFS. These actions include communicating with insurance carriers, brokers, and agents to inform them of the need for better access to insurance coverages for EIFS and to ask these insurance interests to take steps to ease access to and lower the price for this insurance, particularly for EIFS applicators and homeowners who currently live in EIFS clad homes.
Some of the steps that the task force will take include developing information and guidance on how EIFS applicators and homeowners can present their risk profile to improve their ability to obtain more affordable coverage.
Have you been working with any providers that exclude EIFS? How can we help you in educating these companies?
If you want to be involved in the task force or the larger committee, let us know.
EIMA currently has a database of access points for EIFS insurance at http://www.eima.com/eifs-insurance.shtml.