WoodWorks Releases U.S. Edition of Mass Timber Insurance Playbook

WoodWorks - Wood Products Council has launched the U.S. edition of the Mass Timber Insurance Playbook. This guidance aims to assist developers and insurers in addressing the challenges associated with insuring mass timber buildings. The initiative is a significant step for integrating mass timber into U.S. construction, following its roots in the UK with the Alliance for Sustainable Building Products (ASBP).

Mass timber's notable strength and fire resistance allow for its use in constructions up to 18 stories in many U.S. regions. Despite its potential, the lack of historical loss data makes risk evaluation difficult for insurers. The Playbook aims to bridge this gap by fostering better communication and understanding between insurers and developers.

WoodWorks President Jennifer Cover highlights the untapped potential for sustainable construction with mass timber, revealing over a billion square feet of potential projects in 2023 that didn't utilize wood materials. While regulations differ from Europe, the Playbook provides a framework for improved terms in insurance agreements.