Recent Cases Suggest that there is Gold in Mold

Mold costs quadruple at luxury hotel. The cost to repair mold damage at the Hilton Hawaiian Village has reached $40 million-four times the cost of the original estimate according to a filing with the Securities Exchange Commission. The hotel is trying to recover mold repair costs and lost revue from business interruption under its insurance policy. But according to the SEC filing, the insurers have not decided whether coverage is available. Attorneys inspired by the Texas jury's award of $32 million for a mold contamination claim have rushed in and scored some hefty wins over insurers. Proof is in these jury awards for mold and mildew:

$18.5 million to a California homeowner of which 18million was punitive.

$60 million for a toxic mold infestation in a Florida county courthouse

6.7 million to a North Carolina motel owner when construction defects allowed water intrusion and mold.

According to industry research the cost of inspection and testing for mold infestation ranges from $1500-2500. Extensive mold infestation can cause some structures to be a total loss with additional cleanup expenses ranging from $30,000 to $300,000.

As mold catches on as a leading hazard, observers believe that costs for mold remediation and related legal expenses could cost billions.

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