Professional Development on Demand: IMUA's Builders Risk Guide to Loss Prevention Series
IMUA's Loss Control & Claims Committee, chaired by Barry Tarnef, updates a series of previously published Builders Risk papers relating to Fire, Water, Wind, Crime and Claims.
by Barry Tarnef, Chairperson of IMUA's Loss Control & Claims Committee
The IMUA Loss Control & Claims Committee is in the process of updating a series of papers on Builders Risk originally published in the early 2000s. We believe this review and re-release of the segments on Fire, Water, Wind, Crime and Claims are timely as residential and nonresidential building starts in the United States are increasing. While the figures do fluctuate month-to-month, the economic recovery appears to be taking hold and commercial market indicators, principally office vacancy rates and hotel occupancy levels, point to strength over the next five years as pent up demand is expected to produce an extended period of construction growth. We also know that these projects are prone to losses as evidenced by the ISO statistics.
The Committee has completed the first two modules, of an anticipated 5-part series: Fire-Related Exposures and Wind-Related Exposures. These documents build on the earlier foundational work but contain enough new material to make them a must read. For example, the next paper to be released in the series, Water-Related Exposures, will incorporate a number of lessons learned from Superstorm Sandy. We invite you to check them out.