Mass Timber: New Technology Drives a New Construction Class
Is the insurance industry ready for the mass timber revolution?
Tall wood buildings, or mass timber construction, are proliferating as developers and builders embrace its environmental, aesthetic and economic advantages. Using solid wood panels to frame walls, floors and roofs, this evolving technology is taking a growing market share worldwide.
This trend challenges insurers to understand the materials, techniques, advantages, and potential pitfalls of mass timber construction to assess and rate these risks more accurately.
The rapidly increasing popularity of mass timber in building construction raises several questions. Is the insurance industry ready for the mass timber revolution? What rating methodology can insurers use to help them accurately underwrite property insurance policies for mass timber buildings?
2025 SCOPES Revision
Verisk plans to provide a mass timber rating schedule in the 2025 SCOPES Revision. With the release of the revision, Verisk will start to collect mass timber construction data through a unique on-site data collection system.