On May 10, 2022, Marsh hosted a panel discussion with industry experts from Woodworks, Zurich North America, FM Global, Smartlam and Lendlease to discuss the use of Mass Engineered Timber (MET) in construction. MET is a product that offers versatility, as well as a number of positive environmental, aesthetic and construction factors. As such, we expect to continue to see a significant increase in the use of MET. However, insurers continue to note some critical challenges with the use of MET, especially pertaining to fire, structural issues, water damage, smoke damage and steel connection.
While many insurers are taking a conservative view on MET and are seeking to limit their exposure, it's essential to plan ahead. All stakeholders will need to work collaboratively to better understand the product and create insurable solutions in a sustainable manner.
Building with mass engineered timber: Insurance considerations – 2022 Marsh webinar