Insurers Must Battle Mold Hype, Hysteria
Only a few years ago, mold was something you occasionally found on your bread or in your shower. Eliminating it consisted of throwing the bread to the birds or wiping the shower tile down with bleach. But now the mere mention of mold can strike fear in the hearts of many consumers and insurers because entrepreneurial lawyers, so-called remediation experts and some in the media have portrayed mold as a national health hazard.
Consumers, acting out of fear, have torn apart their homes, sometimes moving out for months on end, to rid their dwellings of what in most cases is harmless mold. Insurers have then been faced with claims for “losses” that most property policies never intended to cover. State insurance departments have been left with the task of trying to address consumer concerns while also protecting their insurance markets.
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