Tuesday, November 3—Afternoon Workshops (select two from T1-T8)
The planning was impeccable. The insurance was negotiated and accepted. The
foundation and surrounding infrastructure were erected … and then the dreaded
project delay occurs. What happens now? This workshop will provide a brief introduction
and overview of project delays and their causes/effects and then discuss in
detail the financial and legal implications of a project delay for owners as
well as contractors, including the impact on the insurance program. Mitigation
strategies and methods for preventing or addressing project delays will also
be examined.
Alejandra Evans,
Executive Vice President of Business Development, Allied North America
William Noonan,
Vice President—Risk Management, Structure Tone Organization
Tracy Alan Saxe,
Attorney, Saxe Doernberger & Vita, P.C.
As contractors anticipate an eventual hardening of insurance markets, many are looking
beyond the comfort of guaranteed cost insurance programs and reevaluating alternative
risk financing options that involve varying degrees of risk retention. This
session will review the various risk financing alternatives available to contractors,
including incurred loss and paid loss retros, investment credit retros, deferred
premium retros, large/matching deductible plans, self-insurance, and group and
single-parent captives. Pros and cons of each method will also be addressed.
Michael J.
O’Neill, Executive Vice President, American Contractors
Insurance Group, Inc.
The financial crisis of 2008-2009 demonstrates the need for construction
executives to aggressively identify and manage not only their property and liability
risks but a variety of corporate risks, as well. As contractors encounter new
and growing risks, including loss of funding that can shutter a project to emerging
liability stemming from new “green” building products, many are realizing the
benefits of looking at the overall company risk profile and developing integrated
solutions that enable them to systematically identify and mitigate risk. This
presentation will review the importance of ERM and show contractors how they
can establish and implement ERM programs on both a company-wide and project
basis.
William D.
Motherway, Executive Vice President, Tishman Construction Corporation
Jack Probolus,
CIP Marketing Director, Liberty Mutual Group
George D. Tolbert,
Technical Director—Construction Services, Liberty Mutual Group
Over the years, builders risk insurance has evolved from simple “sticks and
bricks” policies to highly sophisticated mechanisms covering a complete range
of course of construction risk exposures. Unfortunately, despite a vast array
of builders risk products, many construction risks are not properly insured,
and deficiencies in the program are not typically recognized until after a major
loss occurs. This workshop will examine some key aspects of builders risk coverage,
including covered parties, covered property, policy limits and sublimits, the
basis of loss recovery, and other factors that may have an impact on the ultimate
adjustment of a claim. Attendees will gain a better understanding of how builders
risk losses are evaluated, as well as ideas for developing a program that minimizes
the possibility of uninsured or underinsured losses.
Anthony J.
D’Amico, Vice President/Senior Loss Consultant, Goodman-Gable-Gould/Adjusters
International
Hayes M. Walker,
III, President, Rollins Accounting & Inventory Services, Inc.
Recent catastrophes involving cranes have created a renewed awareness of
the potential dangers on a construction project. Contractors need to establish
crane safety procedures, even if all crane work is performed by subcontractors.
This workshop describes the most common causes of crane accidents and outlines
best practices for eliminating crane losses, including key elements of a crane
safety program and required safety procedures for avoiding accidents.
Kevin D. Bland,
Esq., Partner, Granado Bland, APC
For many contractors, the current economic realities present more than the
usual number of challenges, particularly in the area of surety bonding. The
continued trend of consolidation in the surety market, dwindling backlogs, and
uncertainty about the short-term demand for construction all emphasize the contractors’
need to maintain an ongoing dialogue with their sureties. This workshop will
provide an overview of current surety market conditions, underwriters’ chief
concerns and requirements, and pricing trends. Strategies for maintaining bonding
capacity and positioning for the changes in construction demand will also be
provided.
Michael W.
Anderson, Executive Vice President & Managing Director—Surety/North
American Construction Practice, Willis
The preparation of quality insurance renewal specifications is crucial to
obtaining competitive rates and preserving contractors’ scope of coverage, especially
when insurance markets start to harden. Without a clear understanding of underwriters’
concerns, this task is virtually impossible to do in a way that will satisfy
their need for information. As capacity tightens, an incomplete marketing submission
is likely to be set aside in favor of those that provide more detailed answers
to the questions underwriters care about. This session outlines the process
for preparing a complete, professional underwriting submission and strategies
for highlighting the client’s strengths that will improve the underwriter’s
perception of the risk.
Steven D. Davis,
Director—Construction Risk Services, McGriff, Seibels & Williams
An interactive discussion of timely topics amongst risk management peers,
attendance is restricted to individuals employed directly by construction companies
or project owners (no agents, brokers, underwriters, attorneys, CPAs, or consultants,
please). This workshop provides an open forum for discussion between owners,
contractors, and subcontractors; affords an opportunity to learn how others
in the industry are handling key challenges; and facilitates networking within
the construction risk management community.
NOTE: The Risk Managers Forum does not
qualify for insurance continuing education credit. Anyone attending this session
will forfeit insurance CE credits for Tuesday afternoon.