NAHB Kicks Off General Liability Insurance Initiative
In an effort to solve the home building industry’s growing general liability insurance (GLI) crisis, NAHB last week kicked off an intense effort designed to bring new GLI products to the market.
Working in partnership with Marsh, the global risk management firm, NAHB is gathering exposure and loss information from builders, remodelers and trade contractors. That information will be used to evaluate the industry’s risk management needs and to create new GLI products.
The information gathered from NAHB members will be held in strict confidence and will not be seen by NAHB members or staff. Revenues from the new products generated as a result of this initiative will be shared with state and local home builders associations.
Over the next three weeks some 42,000 builder, remodeler and trade contractor members will receive a mailing about this initiative. The mailing will include an insurance survey and a consent letter that gives Marsh permission to contact a builder’s insurance carrier to obtain loss-run information. It will also include additional information about this GLI initiative.