KOHLER, WI — According to a report from the Plumbing-Heating-Cooling Contractors—National Association (PHCC), the dollar amount related to mold claims on a single New York City apartment complex is higher than the estimated cost to rebuild the World Trade Center.

Insurance Information Institute statistics shared at a Sept. 19 mold seminar stated that plaintiffs in a lawsuit against the developer of the Phipps Apartment Complex in New York are alleging $12 billion in mold-related damages. In comparison, the estimated cost for rebuilding the World Trade Center is $6.7 billion.

The seminar, held at the American Club in Kohler, WI, was sponsored by the Kohler/PHCC Educational Foundation Seminar Series and the Construction Contractors' Alliance.

Publication date: 09/23/2002