Affordable insurance coverage for EIFS projects remains a challenge for many. As EIMA works to address this, David Johnston discussed the topic in the October issue of Walls and Ceilings Magazine. As always, we want to thank the magazine for covering the important issue.
‘The insurance industry is slowly responding to this lack of affordable coverage, but the EIFS industry, particularly EIFS applicators, continues to be hard-pressed to find it. Although it is scarce, the good news is that coverage is available. The big problem is the perils covered by the Commercial General Liability policy, which responds to claims for damage caused by alleged faulty EIFS installations. The CGL market for EIFS applications is particularly tough for new and/or claims-ridden clients, and if the coverage for EIFS cannot be obtained, the owner and/or designer may seek an alternative exterior wall cladding in place of EIFS.”
Here’s the article in it’s entirely: http://www.wconline.com/articles/90434-insurance-coverage-for-eifs-how-to-get-it-and-how-to-buy-at-a-fair-price