Construction involves both buyers and sellers of construction services. On the buyer side, there are developers and building owners - healthcare, manufacturing, higher ed, office, multi-family etc. Sellers of construction services include contractors, construction managers, design professionals, trade contractors, consultants, and suppliers. This complicated and multi-tiered industry deals with projects that cost tens of millions of dollars that can expose both construction sellers and buyers to significant risks. Well-written contracts supported by a robust insurance program can help mitigate these risks.
Attorneys Roy Wagner and Lee Seese designed this program for construction and facility owners to better identify key insurance issues, understand the risks insurance can solve, and provide insights to make better purchases of insurance services to support construction project risks. Topics discussed include:
- Interplay between construction contracts and insurance;
- Interplay between the owners and the contractor’s insurance program;
- How to determine how much insurance coverage is appropriate;
- Why the Additional Insured decision is one of the most critical insurance decisions;
- Claims covered or denied; and
- Insurance lawsuits - how to avoid no coverage.