How Lenders Were Left Unsecured For Mold-Relater Losses On Commercial Loans And How to Fix the Problem
By: Paul Duggan & David Dybdahl Vol. 20, No. 3 Fall 2006
Insurers implemented a drastic mold-risk management strategy after the explosion in “toxic mold” losses at the turn of the century. Lenders should specifically address mold coverage in their insurance coverage. There are environmental insurance options like Real Estate Environmental Policies that can cover the gaps created by exclusions in general liability policies.