Construction Risk Management

Use it to control insurance costs.

Gain a better understanding of loss exposures, and identify common gaps in contractors’ insurance coverages.

Construction Risk Management provides you with a better understanding of construction loss exposures and applicable coverage for any type of contractor, enables you to provide practical feedback on contract insurance and indemnity requirements/provisions, and helps you control insurance costs and properly structure a more comprehensive risk management and insurance program.

Authors

Ann HickmanAnn R. Hickman
Senior Research Analyst
IRMI
 
Jack GibsonJack P. Gibson
President & CEO
IRMI
 

Construction Risk Management covers these topics.

  • Introduction to Risk Management
  • Insurance Program Administration
  • Loss Exposures and Underwriting Considerations
  • Loss Control
  • Risk Financing
  • Insurance
  • Construction Defects Coverage
  • Contractors Equipment Coverage
  • Contractors Pollution Coverage
  • Contractors Professional Liability
  • Subcontractor Default Insurance
  • Builders Risk Insurance
  • Professional Liability
  • Wrap-Ups/OCIPs & CCIPs
  • Contractual Risk Transfer Techniques
  • Contract Claims Litigation
  • Surety
  • Construct Insurance Checklists
  • Construction Risk Management Tips

Download Table of Contents

Agents, Brokers, and Account Support Staff

  • Identify common gaps in contractors' insurance policies and specify special policy endorsements and manuscript wording needed to properly cover unique construction exposures.
  • State-by-state analysis of laws governing hold harmless provisions in contracts help you determine whether contract hold harmless clauses are out-of-line with the requirements of the states in which your client operates.
  • Will help you determine if you should recommend the purchase of contractor pollution liability (CPL) insurance to cover your client's environmental exposures. Insight like this, with third-party support to your recommendations, strengthens client relationships with resulting growth in your business.
  • Understand and explain to others the completed operations coverage gap that your contractors may face after the closeout of a wrap-up under which they were insured, and how to arrange their policies to close it.

Risk Managers, Financial Executives, & Insurance Buyers

  • Identify common gaps in your insurance policies and work with your broker at applying special endorsements and manuscript wording needed to properly cover unique construction exposures.
  • State-by-state analysis of laws governing hold-harmless provisions in contracts helps you determine whether contract hold harmless clauses are out-of-line with the requirements of the states in which you operate.
  • Will help you determine if you should purchase CPL insurance to cover your environmental exposures.
  • Develop an understanding of the interplay between completed operations liability coverage and defective construction claims, and the key components to address in your insurance program to maximize your protection.
  • Identify often overlooked professional liability exposures and learn how to insure them.

Underwriters

  • Helps answer tough questions and solve problems posed by your agents, brokers, and insureds.
  • Third-party support to your answers and recommendations will reinforce client trust.
  • Excellent training tool for your staff about the unique risks of contractors, appropriate risk management strategies, and the contractual issues between the general contractor, project owner, and subcontractors.

Attorneys

  • Includes 626 case citations.
  • Helps you answer tough questions and give proper guidance to your clients.
  • Identify coverage best practices for construction companies to help increase your value-added service to clients.
  • Hone your ability to draft appropriate insurance specifications for contracts.

Consultants

  • Identify common gaps in your insurance policies and how to employ special endorsements and manuscript wording to properly cover unique exposures.
  • State-by-state analysis of laws governing hold harmless provisions in contracts helps you determine whether contract hold harmless clauses are out-of-line with the requirements of the states in which your clients operate.
  • Will help you determine if you should recommend CPL insurance to cover environmental exposures.
  • Explain the interplay between completed operations liability coverage and defective construction claims, and the key components to address in your insurance program to maximize your protection.
  • Identify often overlooked professional liability exposures and learn how to insure them.
  • This valuable insight will help justify your fees and enhance client trust and referrals.
Bonus Publication Icon

Your purchase of Construction Risk Management comes with the Construction Risk Management Newsletter. It provides a quick overview of the latest developments affecting construction risks and the tactics for insuring or managing them, including advance notice of changes in policy forms, such as important legislative developments, and developments in the insurance marketplace.

Bonus Publication Icon

In addition, you will get access to hundreds of ACORD forms that have been approved for use in all 50 states and are accepted by more than 1,000 companies. Using standard forms such as these increases efficiency in insurance transactions. This InfoBase includes all the ACORD forms in PDF files.

Bonus Publication Icon

You will also get a copy of the Contractor's Guide to OCIPs, a handy reference that provides guidance on 39 issues contractors should consider when accepting coverage through a wrap-up or controlled insurance program. This publication was prepared by the OCIP Task Force of the AGC of America.

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