Release Date: October 27, 2010
Contact: Contact Us
DALLAS—Builders risk insurance is the
backbone of every construction project’s insurance program. Without it,
lenders would not lend, builders would not build, and owners would not own.
It provides a means for funding at a very critical juncture in a project:
the time an accident causes damage that must be quickly rectified for the
project to continue on time and on budget.
With so much at stake, those who develop, underwrite, sell, and purchase
builders risk policies need authoritative resources to guide them in
structuring the coverages that adequately respond to stakeholders’ needs. To
meet this need, International Risk management Institute, Inc. (IRMI), is
proud to announce publication of
The Builders Risk Book. This new book provides an understanding of the
laws governing builders risk insurance, knowledge of the risk exposures and
contract requirements that must be satisfied, and specific advice for
structuring the best coverage terms.
Written by highly regarded insurance experts, it provides key insight and
practical guidance into a number of cutting-edge areas, such as delay
coverage and green construction, that are barely touched by most other
publications. Helpful all the way from groundbreaking through final closeout
of the project and beyond, The Builders Risk Book
also offers a myriad of suggestions for avoiding the pitfalls experienced by
others, based on the authors’ analyses of well over 100 cases (cited in the
book), and their own personal experience.
The authors are Steven A. Coombs, CPCU, ARM, and Donald S. Malecki, CPCU.
Mr. Coombs is president of Risk Resources, a risk management and insurance
consulting firm. Mr. Malecki is an insurance consultant, expert witness, and
author of many books on insurance, including
The Additional Insured Book. With combined business experience of over
80 years, they have been—and continue to be—heavily involved in pre-loss and
post-loss consulting work involving builders risk insurance, installation
floaters, and commercial property policies that include course of
construction and other construction-related coverages. Both authors have
backgrounds in underwriting are research buffs with a burning desire to
learn, and convey, all that is possible about various aspects of insurance
and risk management.
“Steve and Don made impressive use of their expertise in researching and
writing The Builders Risk Book, filling a
real need for a comprehensive source of information focused on this
important topic,” said Jack P. Gibson, CPCU, ARM, CRIS, president of IRMI.
“These policies are highly complex, and there is no standard form used
consistently by insurers to cover larger projects. This thoroughly
researched and well-written treatise will help risk professionals avoid the
costly mistakes that are so easily made by those with limited knowledge of
this complicated insurance.”
The Builders Risk Book is now available
in print format for $139 and, for IRMI Online access, $69.50 for individuals
or $139 for small businesses. For more information about the book, visit
http://www.irmi.com/products/store/the-builders-risk-book.aspx/a> or call
1–800–827–4242.