Understand the types of risks addressed by insurance, and the advantages and disadvantages of those three options.
Owners and contractors have been subject to increased litigation arising from risks created by construction operations. However, due to changes in the insurance market, contractors are increasingly challenged to secure insurance coverage to meet owner insurance requirements. As a result, many owners have turned to incepting an owner-controlled insurance program or relying on a contractor-controlled insurance program to address the project risks.
This topic will arm you with an overview of the types of risks typically addressed by insurance, and a review of the advantages and disadvantages of the three options of insuring those risks: traditional insurance, owner-controlled insurance or contractor-controlled insurance. Whether you have ongoing maintenance projects or you are planning to build a large project, this topic will equip you with an understanding of your options for managing those project risks.
Agenda
Faculty
Michael B. Lapicola
Faegre Baker Daniels LLP
- Partner in the law firm of Faegre Baker Daniels LLP
- National construction law practice, representing project owners, contractors, subcontractors, suppliers, architects, engineers, lenders and sureties in dozens of states across the United States
- Provides daily consultation to clients regarding procurement, licensing, liens, bonds, insurance, indemnity, delays, defects, changes, payment, termination and other construction project matters
- Listed in Chambers USA: America's Leading Lawyers for Business — Construction, 2011-16
- Frequent speaker and has written several publications
- J.D. degree, cum laude, Northwestern University School of Law; B.A. degree, magna cum laude, Brigham Young University
- Can be contacted at 303-607-3680 or [email protected]
William Buchan
- Currently a Senior Risk Manager for Gilbane Construction
- More than 30 years of experience in the risk management, insurance, and construction industries
- Is a National Risk Management resource
- Provides a rounded and measured advisory service, which includes contract review, risk transfer method, captive utilization, claims advice, and senior leadership consulting for program construction
- B.A. degree, North Park University
- Can be contacted at [email protected]
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