Circue
Every year, insurance companies across Europe settle billions of Euros in building damage claims. The prevailing approach is new-for-old where damaged materials are replaced with brand-new products, while materials removed for cosmetic reasons become waste. In Denmark alone, water and fire damage repairs exceed €500 million annually. This default represents a significant but overlooked part of the insurance industry’s environmental footprint.
The Re:Claim project, developed by Circue within the Circular Buildings Coalition (CBC), set out to challenge this default. Responding to CBC Open Call Challenge Area 1, which seeks initiatives that build market confidence in secondary materials through quality assurance and scalable insurance models, the project investigates what it will take for insurers to settle claims with secondary materials of equivalent quality. Working with insurance companies and industry organisations, Re:Claim explored this question across three interconnected dimensions.
From New-for-Old to Like-for-Like: How Insurance Can Drive Circularity in Building Repairs
Every year, insurance companies across Europe settle billions of Euros in building damage claims, with a default new-for-old material substitution model. The Re:Claim project, developed by Circue within the Circular Buildings Coalition (CBC), set out to challenge this default exploring like-for-like insurance models. Read more here to find out about how insurance can drive circularity.
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