Mold Coverage Offered By ACCA Insurance Services

March 24, 2005
/ Print / Reprints /
ShareMore
/ Text Size+
The Fideli Group management team of Stephen Bernstein (left) and Robert Snyder provided information on the new Environmental Pollution Liability Policy, available only to ACCA members.
AUSTIN, Texas - The Air Conditioning Contractors of America (ACCA) announced that its members can now receive mold insurance coverage as part of a new Environmental Pollution Liability Policy. The policy was introduced at the ACCA 37th Annual Conference & Indoor Air Expo.

ACCA members are eligible to enroll in the program, which is being offered through ACCA Insurance Services and its partnership with the Fedeli Group. Robert Snyder, Fedeli Group vice president of insurance and risk management, spoke with ACCA members during an informational seminar at the Indoor Air Expo. Snyder told contractors their mantra should be, "I am who I am - I don't do mold."

He said that during the 1980s, when environmental issues became important, insurance companies began to focus in on "environmental insurance," which included mold coverage.

But as mold became a prominent issue, fueled by highly publicized cases and million-dollar judgments (according to Snyder, mold damages went from $7.9 million in 1994 to $94 million in 2001), insurance companies began dropping mold coverage or limiting the amount a business could carry. These exclusions in the policies had a dramatic affect on some HVACR contractors.

"Contractors don't understand the true nature of their insurance and how exclusions work," Snyder said. "Insurance can be a distraction for some. The distraction of an uncovered financial loss can be huge for your business."

Snyder added that the ACCA insurance program would build a defense for contractors and eliminate this distraction. He noted that having mold coverage could be an asset when a contractor is trying to win high-margin contracts.

Risk Management

Aaron McQueen is an attorney with Roetzel & Andress, Akron, Ohio. His law firm is working with Fedeli to set up risk management training and testing. ACCA members can qualify for the environmental insurance but must be certified through testing and training, which includes jobsite inspections and documentation.

"Contractors would prefer to shift risk to the insurance company," said McQueen. "But the premium to do so would be too high or unavailable - a Catch-22.

"Unfortunately, you don't have to do anything wrong to be sued. Risk management is about doing what you need to protect yourself before a mold claim is filed."

In an ACCA press release, Skip Snyder, president of the Snyder Co., Upper Darby, Pa., and 2004 ACCA national chairman, said, "It is imperative that ACCA Insurance Services create insurance programs that will serve our members needs and attract the quality contractors in the HVACR industry to membership in our association.

"The environmental insurance including mold coverage is exclusively for our membership and addresses a vital need at this time in the history of our profession."

For more information, contact ACCA at www.acca.org or e-mail Robert Snyder at rsnyder@thefedeligroup.com.

Publication date: 03/28/2005

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

Recent Articles by John Hall

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Jeremy Begley

Jeremy Begley, home-performance specialist and Web and social media manager with National Heating and Air Conditioning Co. in Cincinnati discusses how and why you should add home-performance philosophies to your contracting repertoire. Posted on Sept. 12.

More Podcasts

ACHRNEWS

NEWS 09-15-14 cover

2014 September 15

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Venting R-22

The NEWS reported that a man received prison time for venting R-22. Should EPA step up enforcement?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con