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Week of June 21, 2004

Front Page

* NAHB, Treasury, HUD Extol Local, National Economic Benefits of New Housing
* Register Now for IBS and Save
* Builders Urge Democratic Party to Adopt Housing Policy Agenda
* Housing Snapshot

President's Message

* You Can Help Solve the General Liability Insurance Problem

Housing and Economics

* Prospective Home Buyers Hoping for Decline in Prices Could Be Out of Luck, Report Suggests
* Home Price Increases Slow to More Sustainable Rate in First Quarter
* Senate Approves Greenspan for Fifth Term as Fed Chairman
* May Housing Starts Virtually Unchanged From April
* Eye on the Economy

State and Local

* Voters Face Bigger Decision Than Bush vs. Kerry in 2004 Elections

Seniors Housing

* Tighten Up Your Focus Groups for Better Quality Feedback

Design

* Inside Design: Smaller Rooms, More Creativity, Flex Space
* Best in American Living Awards Entries Due in July

International

* Opportunities Abound to Improve Mexico's Housing Delivery System, Harvard Study Finds

Small Builders and Remodelers

* What Do Customers Say About Your Service?

Environment

* State Legislatures Keeping Irrational Mold Fears Alive

Green Building

* Tucson Builder Lauded for Achievement in Residential Energy Efficiency
* Green Building Featured in Grand Rapids Parade of Homes

Construction Safety

* Free Construction Safety Seminars at Various Locations This Summer

Business Management

* How to Make Your Business Presentable So You Can Sell It
* Build Your Knowledge at the Custom Builder Symposium

Building Systems

* Enter the Systems-Built Marketing and Design Competition

Building Quality

* Competition Opens for EnergyValue Housing Awards

Building Products

* Fiberglass Gains Entry Door Market Share

Builder's Engineer

* Spreadsheets Rock

Building News Coast To Coast

Association News & Events

* National Housing Endowment Provides Support for Symposium on Housing Needs of Mentally Ill
* Only YOU Can Help Solve the GLI Crisis!
* Sign Up for 2005 Committees and Councils by July 9
* Awards Programs Deadlines
* Calendar of Events

NBN Back Issues

 

You Can Help Solve the General Liability Insurance Problem

Costs for insurance are skyrocketing, and in some markets, builders can’t get coverage at any cost.

This is one of the biggest challenges facing home builders and contractors today, and it is a top issue for our federation.

In response, NAHB has formed a partnership with Marsh, the global risk management consulting firm. In a plan endorsed by the NAHB Board of Directors, our association and Marsh are gathering data from builder, remodeler and trade contractor members to create a comprehensive profile of the home building industry’s risk management needs. Marsh will then use that profile to develop effective new general liability insurance (GLI) products for NAHB members.

The first and most important step is to understand the actual loss experiences of the residential construction industry. Marsh is surveying thousands of NAHB members to learn more about their businesses and their insurance needs. Members will also need to provide Marsh with a letter addressed to their insurance carrier giving the carrier consent to share loss information with Marsh.

Over the next 60 days, NAHB and Marsh will be contacting builder, remodeler and trade contractor members and asking them to complete the survey, put the consent letter on their letterhead and send those materials to: Marsh, c/o Jessica Hatch, 1166 Avenue of the Americas, New York, NY 10036.


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Marsh will use the information gathered from builders, remodelers and trade contractors to develop a sophisticated profile of the residential construction GLI market. This broad understanding of the market will enable Marsh to develop risk-management strategies that improve the coverage, cost and availability of GLI for the home building industry.

We need your help.

If you are a builder, remodeler or trade contractor, then we need you to fill out the survey, put the consent letter on your letterhead and send these materials to Marsh. If you are one of the 44,000 members who receives the GLI mailing, then please complete the survey and consent letter and send these materials to Marsh as soon as possible. If you do not receive these materials in the mail, then I strongly encourage you to go to www.nahb.org/gli. There you will find all the materials from the mail piece.

We need as many builders, remodelers and trade contractors as possible to participate in this effort. Please note that your insurance agent can be an important resource in finding this insurance information.

I want to stress two points: 1) All information in the database will be kept in strict confidence; and 2) Your current insurance agent will have the opportunity to sell new products developed through this initiative.

This is about your business profits. This is about the long-term health of our industry. Taking a few minutes to gather your insurance information and send it to Marsh could be the first step in solving one of our industry’s toughest challenges — and in saving you thousands of dollars in insurance premiums.

Please do your part.
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