Presented by: James Bly, Managing Director, Alliant Chris DeBruin, Claims Director, Alliant
In today’s growing construction market the risk of construction defects is on the rise. With depleted labor pools, prime and subcontractors stretching their resources to work on larger, more complex projects and owners demanding shorter completion times the probability of imperfection increases.
MANAGING THE RISK OF CONSTRUCTION DEFECTS Ever since the unfavorable court ruling on the Kvaerner case, contractors in Pennsylvania have been exposed to construction defect risks that were formerly covered by their insurance policies.
Join us August 30,2017 for an informative Construction Defect Risk Management Seminar. This seminar will explore all coverage possibilities for CD’s including those that arise during the course of construction or in the completed operations phase, helping contractors protect their balance sheet and maintain their profitability through effective risk management strategies.
WHO IS IT FOR?
Union Contractor CEO’s, CFO’s
VP of Operations, Project Executives
Project Managers and industry professionals serving the construction industry
WHAT WILL YOU LEARN?
What insurance coverage applies to defects?
The difference between coverage triggers on an insurance policy v. a surety bond or SDI policy and why it matters?
Risk Allocation strategies, what party should own the risk?
Best practices to insure the risk in today’s construction market.
Safety and Quality Control initiatives to reduce the risk.
Hear and Share Case Studies
Learn what insurance policies may trigger for defects that are discovered during the course of construction or after the project is complete. Discover how you can manage the risk of construction defects? Review the case law in Pennsylvania that affects coverage. What are the best practices to manage defect risk? What should I ask for when negotiating my insurance coverage?
This seminar will include a case study and coverage review that will help the audience determine what coverage applies for different defect scenarios. The policies that will be included in the case study include General Liability, Professional Liability, Builder’s Risk, Surety, Subcontractor Default Insurance and Pollution policies. The case study will focus on the following:
What needs to occur for coverage to trigger?
What strategies should be considered when a defect occurs?
What does the contract say? Whose policy should apply?
What should you do if a defect claim is made against your bond?
What risk should be transferred to what party?
Structuring the contractual insurance and indemnification requirements. What is important?
What coverage can be negotiated in each policy to minimize your risk of construction defects?
Safety and quality control best practices to avoid construction defects before they occur.
