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The term Exterior Insulation and Finish Systems (EIFS) refers to any material that is used and applied as a protective (insular) exterior coating to any building or structure. Items that qualify as EIFS include the insulating/protective material as well as the adhesives, coatings, fasteners, finishing materials (such as sealants) that are accessories or components of the foundation insulating materials.Over the last couple of decades, EIFS have become more widely used in both commercial and residential construction. The system's popularity increased due to it being an economical method to provide more efficient levels of insulation to both residential and commercial building projects. Further, the material is very flexible, permitting greater freedom in building design. The issue that has developed is losses caused by major defects in many of the installations. Due to a variety of causes, such as faulty application or installation, material incompatibility, failed or inadequate caulking, many systems tend to trap moisture that results in:
Such incidents create substantial rebuilding and replacement projects that were not intended for coverage under insurance contracts. The insurance industry was prompted to scrutinize the issue as a trend of EIFS-related losses developed, including a number of class-action lawsuits against some major manufacturers of certain types of EIFS. The result is that most insurance policies that cover commercial property now exclude losses involving EIFS. The typical exclusion wording bars coverage for loss involving:
of an Exterior Insulation and Finish Systems An exclusion may even apply to a loss involving a policyholder's product or work related to or used along with an EIFS. The emerging approach being used by insurers is to treat EIFS losses as ones involving faulty or defective work or construction rather than a fortuitous (accidental) loss exposure. COPYRIGHT: Insurance Publishing Plus, Inc. 2005
All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc. |
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