29th IRMI Construction Risk Conference Attracts Over 1,000 in Washington, D.C. 

Release Date: November 2, 2009
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WASHINGTON, D.C.—Nearly 1,100 risk managers, agents, brokers, attorneys, and underwriters who specialize in managing or insuring the risks associated with construction projects convened here November 1–5 for the 29th IRMI Construction Risk Conference. The IRMI Construction Risk Conference is the only national symposium devoted exclusively to managing, insuring, and bonding the risks of construction projects. The Conference featured a full-day seminar, a general session, and 26 workshops that were presented by 52 nationally recognized insurance, risk management, safety, 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.

“The recession has slowed construction activity and resulted in increased competition in all sectors. Smart construction executives recognize that good risk management enhances their firms’ competitive positions and have resisted any temptation to reduce or eliminate risk management programs to cut costs,” said IRMI president and conference cochair Jack Gibson. “As a result, there were nearly as many contractors in attendance this year as last, though the number of insurance professionals was down a bit. The contractors are focusing on ways to control their costs through careful insurance purchasing, safety programs, and good claims management. The insurance marketplace has remained soft despite the economic downturn, and one concern is how the reduced insurance pricing will affect the quality of safety, claims, and other services.  By bringing the marketplace, intermediaries, and buyers together, the Conference provides unique opportunities to explore solutions to the industry’s many risk and insurance challenges. We believe this is the reason the Conference attendance remained steady this year in spite of the global financial crisis.”

The 30th IRMI Construction Risk Conference will be held November 7–11, 2010, in Nashville, TN. For more information, visit www.IRMI.com/Go/CRC or contact International Risk Management Institute, Inc. (IRMI) at 12222 Merit Drive, Suite 1450, Dallas, TX, 75251, phone 800–827–4242, in Dallas, 972–960–7693, or fax 972–371–5120.