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Deadline for Insurance Survey Extended; More Participation From Builders Needed

NAHB is partnering with Marsh, a global insurance and consulting firm, in an effort to develop new GLI products that will meet members’ needs. NAHB and Marsh are seeking to get an accurate national picture of the loss experiences of the residential construction industry and to develop new GLI products exclusively for the NAHB membership.

The first step in this initiative is to gather insurance information from members. NAHB is asking builder, remodeler and trade contractor members to complete an insurance survey and to send a consent letter to their insurance carrier giving the carrier permission to share loss information with Marsh.

”We have extended the deadline because we need participation from more builders,” said NAHB President Bobby Rayburn. “This effort to develop new GLI products will not work if builders, remodelers and trade contractors don’t provide their information. With insurance costs rising and exemptions making coverage less effective, it’s in everyone’s interest to participate in this effort.”

Rayburn also pointed out that the quality of the data is important. “Marsh needs five years of policy information, but 10 years is even better. And people should take a few minutes to do this right,” he added. “Make sure you’re completing the entire survey. Put the consent letter on your letterhead. Photocopy your policy information. Then send all those materials to Marsh.”

“Thirty minutes of your time could end up saving you thousands of dollars in GLI costs,” Rayburn said.

For the survey, consent letter and background information about the GLI issue, NAHB members can click here, or e-mail Blake Smith or call him at 800-368-5242 x8583.

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