Various mechanisms have been suggested to achieve this. The construction industry traditionally takes a cautious approach to risk, however. The construction insurance sector is a case in point. Although Lloyd’s of London has a reputation for covering complex risks, underwriters are by nature risk averse, and rely on previous claims data to cover risks. The untested risks inherent to new building materials and methods consequently pose a challenge for insurers. This conservatism reduces the chances that prototypical solutions will be adopted, particularly on large-scale developments, such as infrastructure, where lifespans are measured in decades, if not longer. Yet ‘the way we design and construct new building needs to change radically to achieve our climate goals’. Cross-laminated timber (CLT) is a good example. CLT utilizes low-grade, low-value timber, bonded together in a lattice pattern, to create a high-value, environmentally-sustainable structural building material. Yet the insurance industry has yet to fully embrace CLT because it’s not fully clear how it effects underlying long-term factors, such as water ingress or how a building will perform in a fire.