Mould was a standout topic at this year’s Independent Insurance Agents and Brokers of America (IIABA) Convention and InfoXchange in Las Vegas.

Bill Wilson, Director of the “Big I” Virtual University, says mould is one of the hottest topics facing the insurance industry. Urging brokers to learn as much as possible about mould exposures, he added: “You need to be able to distinguish between what is truth and myth, and so fully understand what is and isn’t covered.”

In just two years, one large adjusting firm has gone from experiencing no mould claims to around six or seven a day. Two years ago that company had no microbiologists on its staff: now it has nine. “For one large insurer, the average water damage claim three years ago was $5,198, and today it is $51,986,” Mr Wilson said.

IIABA has set up a mould checklist for brokers, outlining some special risk management techniques aimed at mitigating water intrusion and mould problems. The checklist is available at the Big “I” website – www.independentagent.com – at the Virtual University tab.