IRMI Construction Risk Conference Draws More Than 1,200

Release Date: November 21, 2003
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CHICAGO—Approximately 1,234 risk managers, agents, brokers, attorneys, and underwriters who specialize in managing or insuring the risks associated with construction projects convened here November 17-20 for the 23rd IRMI Construction Risk Conference.

The IRMI Construction Risk Conference is the only national symposium devoted exclusively to insuring, bonding, and managing the risks of construction projects. The Conference featured four full-day seminars, one general session, and 27 workshops that were presented by 51 nationally recognized insurance, risk management, and surety experts.

Contractors large and small sent their risk, insurance, and safety managers. In addition, virtually all the major providers of insurance or surety services were represented, and a substantial number of risk managers representing project owners (i.e., companies with large construction projects planned or under way) attended this year.

"In addition to substantial increases in insurance premiums and deductibles, contractors remain very concerned about the unavailability of insurance coverage for certain construction trades or in certain areas of the country and for certain types of exposures," said Jack P. Gibson, IRMI's president and conference co-chairman. "For example, homebuilders are having a tough time getting general liability coverage, particularly in California and other states that have been hard hit with construction defect claims. Contractors are also seeing exclusions for such exposures as mold and claims associated with synthetic stucco (EIFS). While the market has eased up a bit as compared to last year, it's still pretty tough for construction."

The 24th IRMI Construction Risk Conference will be held November 8-11, 2004, in Orlando.

For information concerning the 24th IRMI Conference, visit www.IRMI.com or contact International Risk Management Institute, Inc., at 12222 Merit Drive, Suite 1450, Dallas, TX, 75251 (phone 800-827-4242, in Dallas, 972-960-7693, or fax 972-371-5120).