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NAHB Members Urged to Watch the Mail for Liability Insurance Survey

A "call to action" on general liability insurance (GLI) went out last week to more than 50,000 NAHB members via a special mailing, as part of the association's ongoing effort to ensure effective and affordable GLI coverage options for its members in the years to come.

“NAHB members should be watching their mailboxes this week, and if they receive the mailing, they should sit down and complete the survey and provide the materials needed to make this project a success,” said NAHB President Bobby Rayburn. “With insurance costs rising and exemptions making coverage less effective, it’s in everyone’s interest to participate in this effort.”

NAHB is partnering with Marsh, a global insurance and consulting firm, to develop new GLI products that will meet members’ needs. NAHB’s relationship with Marsh is intended to:

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• Provide an accurate national picture of the loss experiences of the residential construction industry through comprehensive data collection
• Use actual loss experience and exposure data to develop new GLI products for association members
• Structure any new GLI products so that they can be purchased from state-licensed local insurance agents with whom NAHB’s members already do business

The objective of the GLI initiative is to gain an accurate national picture of the loss experiences of the residential construction industry so that new GLI products can be developed exclusively for the NAHB membership. The contents of the mailing, which are also available online at www.nahb.org/gli, include insurance surveys — one version for builders and remodelers and another for trade contractors — plus a model consent letter authorizing insurance providers to supply crucial background information for this effort.

The mailing is also going to NAHB-member insurance agents, who will play an important role in the GLI initiative, Rayburn said. “We're encouraging builders to use their insurance agents as resources for their data submissions,” he said.

Marsh and NAHB are working on a timetable that would bring new GLI products to the market by January 2005.

For more information about the GLI initiative, NAHB members can go to www.nahb.org/gli; or e-mail Clayton Traylor at NAHB or call him at 800-368-5242 x8490 or contact Blake Smith x8583.
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