Written by highly regarded insurance experts, The Builders Risk Book
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.
Builders risk insurance is the backbone of every construction
project's insurance program because it provides a means for critical
funding to quickly repair damages following a loss and get the project back
on track. With so much at stake, those who develop, underwrite, sell, and
purchase such policies need authoritative resources to guide them in
structuring builders risk policies and coverages that adequately respond to
stakeholders' needs.
The Builders Risk Book delivers with 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 Builders Risk Book covers these topics.
- Introduction
- Introduction to Builders Risk Insurance
- History of Builders Risk Insurance
- State Regulations: Property vs. Inland Marine Insurance
- Contractual Requirements
- Builders Risk Policy vs. Other Property Insurance
- Who Is Covered: Naming the Parties Appropriately
- Covered Property, Covered Locations, and Coverage Period
- Extensions and Optional Property Coverages
- Covered and Excluded Causes of Loss
- Other Exclusions
- Subrogation Problems in Construction
- Renovation Work
- Installation Floaters and Rigging Coverage
- Other Builders-Risk-Related Coverages
- Delay in Project Completion
- Green Building and the Role of Builders Risk Insurance
- Comparison of Builders Risk Insurance Requirements
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Table of Contents
Claims Managers, Adjusters and Adjuster Trainees
- Gain a better understanding of all claims operations and how the
operations interrelate with other departments.
- Learn the details of the variety of claims operations in different
risk financing structures, such as captive insurance companies.
- You'll be able to gauge the results of proper claims staffing on
the claims operation, and the impact from utilizing an effective staffing
model.
- Understand the impact of reserve management on profitability or
loss.
- Takes the mystery out of third-party claim administration (TPA)
operations.
- New adjusters will receive a consolidated understanding of the claims
process. Perfect for a claims trainee program.
- Claims adjusters and claims managers will better understand each
other's role in the claims process and their combined impact on
results.
Claims Executives & Insurance Buyers
- Achieve a balance between adequate adjuster caseloads and meeting
budgetary constraints.
- Understand the TPA pricing models and factors impacting pricing.
- Learn how increased staffing with manageable caseloads can positively
impact results with reduced loss costs.
- Provide guidance with a "best practices" claim model.
- Implement a best-in-class claims trainee program.
TPA Management
- An excellent resource for understanding the TPA operations and their
impact on the core services provided of technical claims handling and
claims management.
- Understand the effect of inadequate pricing on results and client
retention.
- See examples of adverse results from improper or inadequate staffing
decisions.
- Learn how improper claims handling can affect the financial stability
of the company with errors and omissions and poor quality.
Insurance Agents, Brokers and Claim CSRs
- Learn how claims investigations and reserves impact results.
- Get the right questions to ask about claims operations and their
impact on your agency.
- Understand what is behind the loss run numbers and if the incurred
losses are adversely affected by the claims operation.
- Gain insight into whether the insured’s workers compensation
experience modification factor is adversely affected by the claims
operation.
Risk Managers
- Outlines how to develop a company-owned claims facility to handle
claims within self-insured retentions.
- Understand how improper claims handling can affect the financial
stability of the company.
- Gain insight into whether the insured's workers compensation
experience modification factor is adversely affected by the claims
operation.
- Learn how claims investigations and reserves impact results.
- Provides a practical guide to which questions to ask during the
selection process for insurers.
Underwriters
- Learn how results are impacted by claims handling (re: loss ratios)
and claims investigations as the basis for claims reserves.
- Understand why adequate staffing is so important in a claims
operation and how it impacts underwriting results.
- Gain a better understanding of how claim reserves are established,
including the evaluation basis for bodily injury case reserves.
- Provides guidance for a "best practices" model.
Your purchase of the online version of Claims Operations: a
Practical Guide comes with a digital copy of the Fundamentals of Insurance Law. A comprehensive, 150-page overview of legal principles
for risk and insurance professionals. Fundamentals of Insurance Law has 13
chapters addressing topics such as: insurance regulation, characteristics
of contracts, the anatomy of an insurance policy, property law, legal
liability, the legal environment for underwriting and claims adjusting, and
consumer laws affecting insurance.