Deadline for Insurance Survey Extended; More Participation From Builders Needed
The deadline for returning surveys and other materials for NAHB’s general liability insurance (GLI) initiative has been extended.
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.”