Hurricane Sandy has left its mark on the East coast and now even a bigger risk is at stake for Hurricane Sandy Victims – mold.
No one is really insured from mold after Hurricane Sandy. In fact, commercial mortgage-backed securities (CMBS) have been affected by the destruction of Hurricane Sandy and there’s a good chance there will be a market-wide effect.
Most buildings hit by Hurricane Sandy will suffer from mold damage and mold insurance often lacks for the majority of buildings.
Mold is one of the largest risk properties flooded for weeks face. Traditionally, mold is excluded from the standard insurance policy.
CMBS loans often do not require mold insurance unless there’s known environmental issues at the location of the property.
When you do not have mold coverage, the best you can do is hire a professional for mold remediation and water remediation.
Advance Mold Environment, a mold remediation and environment restoration company, can inspect your home or commercial business for asbestos, mold and lead exposure.
Advance Mold Environment will provide you mold contamination testing, complete mold or water remediation services; decontaminate your HVAC, and more.
For professional help and questions on remediation, contact Advance Mold Remediation by calling 1-877-411-MOLD or click here today!
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Source: http://www.businessinsider.com/citi-hurricane-sandy-mold-insurance-risk-2012-11
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