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For Second Straight Year, Liability Insurance Is Top Builder Concern
For the second straight year, issues relating to liability insurance, including cost, availability and deductible amount, ranked among the top issues on NAHB's annual Critical Issues Survey.
The annual survey asks executive officers at state and local builders associations across the country to rate emerging and existing industry issues, such as “workers compensation” or “cost of lots.” Issues are ranked on a scale of one to five, with one being not at all critical and five being very critical.
“Liability insurance cost” was rated as the number one issue for July 2002-June 2003 “liability insurance availability” was second, and the “development approval process” was third. Moving up from its number 11 ranking in 2002 was “liability insurance deductible amount,” which ranked fourth in this survey.
Mold, Labor Availability Drop from Top Ten
State and local associations' concern about mold issues has dropped significantly. The issue, which was ranked as the 4th most critical issue in last year's survey, dropped to 11th in this year's.
Consistent with an economic downturn, labor issues have dropped out of the top ten most critical issue list. "Labor availability," which was the top issue in 1998-2001, was ranked 11th during this survey period.
For more information on the Critical Issues Survey or to receive the full survey results, contact Marie Zenner at 800-368-5242 x8279.
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