2002 Mold News Stories
Toxic
Mold: The $1 billion Industry
Cleaning &
Maintenance Management Online, Sept. 23, 2002
WASHINGTON –– A new report is underscoring just how lucrative mold has
become for mold remediators, water damage restoration experts, indoor air
quality testers and others associated with the industry.
Mold claims cost homeowners insurers $1 billion in 2001 and are blamed by
insurers as being a major factor for the first recorded fiscal year loss
in the property/casualty insurance industry history, the Insurance Journal
reported.
While playing more of factor in the $7.9 billion deficit was the decline
in the stock market, the $1 billion in mold claim payouts still underscore
a huge problem for insurers and a huge potential for remediators and
indoor air quality specialists.
The Insurance Journal quoted the National Association of Independent
Insurers (NAII) as reporting that mold claim payouts for 2001 increased
five times over their 2000 levels.
JanSan industry experts told CM e-News Daily/CMM Online that the draw of
the mold industry is expected to only grow as public hysteria about mold
and a lack of clear science to either dispel concerns, or validate them,
continues.
Highlighted November 2002
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