What does Exterior Insulation and Finish Systems mean? Read on to discover the definition & meaning of the term Exterior Insulation and Finish Systems - to help you better understand the language used in insurance policies.
Exterior Insulation and Finish Systems
Multilayered exterior wall systems designed to provide high energy efficiency in both residential and commercial buildings. Typically, an EIFS system includes insulation board that is secured to the exterior wall surface with a specially formulated adhesive, a water-resistant base coat that is applied on top of the insulation, and a finish coat. EIFS gained attention from the insurance industry when claims began to arise alleging damages caused by moisture. This resulted in liability claims against contractors and the manufacturers of EIFS. Additionally, a considerable number of first-party claims have been brought under homeowners policies. Insurers have attempted to limit their exposure with exclusions or by refusing to insure risks with a substantial exposure (e.g., EIFS homes or contractors that install EIFS).
We hope the you have a better understanding of the meaning of Exterior Insulation and Finish Systems.