Property Insurance Roundtable

Builder's Risk Insurance


This podcast and the corresponding Adjusting Today article titled, “Builder’s Risk Insurance: Specialized Coverage for Construction Projects,” focus on a policyholder and which steps they should take to ensure there is adequate insurance coverage on their upcoming or existing new construction project. Important points of this roundtable include identifying exposures, increased costs due to the shelf-life of previously acquired bids and basing your Builder’s Risk Insurance policy on the anticipation of a total loss.

Key Takeaways

  • [01:14] How to define Builder’s Risk Insurance.
  • [02:31] Who purchases Builder’s Risk Insurance?
  • [03:51] When a building is being constructed what kinds of risks is it exposed to?
  • [05:54] Who and what can be covered under a Builder’s Risk policy?
  • [10:31] How do you define the term builder?
  • [13:22] Does this policy cover materials in transit to the job site as well as when materials are in storage awaiting transit?
  • [18:03] What is the best way for a buyer to get adequate coverage?
  • [21:06] What are common errors on the Completed Value Form?
  • [27:43] What is the difference between a Completed Value Form and a Reporting Form?
  • [31:07] What role does a deductible play when calculating penalties relating to Builder’s Risk Insurance?
  • [32:40] What are examples of covered causes of loss and exclusions under a Builder’s Risk policy.
  • [45:38] What options are available if a Builder’s Risk policy is terminated but there is still work to be completed on the building?
  • [51:41] What beneficial optional coverages are available for a policyholder to add in a Builder’s Risk policy?
  • [57:32] What is Contingent Coverage with regards to Builder’s Risk Insurance?
  • [01:02:04] Who should a person seek out when investing in an insurance policy or after sustaining a loss?
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Tony D’Amico has been evaluating property insurance claims since 1976. Prior to joining Goodman-Gable-Gould/Adjusters International, Tony was a Regional Property Supervisor for Travelers Insurance Company. Tony’s primary role with Goodman-Gable-Gould/Adjusters International is the evaluation and supervision of business income/extra expense losses, specialty lines claims such as builders risk, boiler and machinery and crime and fidelity claims.

A sampling of significant insured losses Tony has supervised are Atlantic Premium Brands; Beaulieu of America; Boral Industries; Durst Corporation; Federal Realty Investment Trust; General Cigar/Culbro Tobacco; Gerber Childrenswear; IP Casino – Resort – Spa; Iron Mountain; J.C. Penney Company; Macklowe Development Corporation; Malden Mills; MeriStar Hotels; Morgan Stanley /Pyramid Advisors; Pan Am Equities; Rauch Industries; Revel Entertainment/Revel Hotel & Casino; St. Lukes Episcopal Hospital; Syratech Corporation; Texas Heart Institute; The New York Mercantile Exchange (NYMEX); The New York Palace Hotel; and York International Corporation.

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C. Todd Thomas
Vice President of Risk Management

Todd Thomas is the Vice President at Adjusters International (AI) and Tidal Basin (TB). He is also the Chief Consultant and Partner of Adjusters International’s affiliate Sigma Consulting Corp. He has worked in the Management Consulting industry for 23 years. Currently, he works with AI and TB's strategic partners to offer the highest quality Risk Management and Disaster Recovery consulting services possible. Thomas has worked in a management capacity on high-profile FEMA, insurance and construction projects since 1996. Thomas regularly serves as an expert witness and Special Master to courts in the area of finance & insurance.

Thomas’ experience assisting public entities, non-profits and other organizations with risk management and insurance includes but is not limited to broker selection, insurance marketing, total cost of risk, risk identification, risk allocation, underwriting, claims, financial risk management, FEMA obtain & maintain compliance, risk analysis, risk management information systems and enterprise risk management.

He is a Fellow of the American Academy of Financial Management (FAAFM), Member of the American Economic Association, Member of the Association of Certified Chartered Economists, a Fellow of the Risk and Insurance Management Society, Member of the Global Risk and Insurance Management Institute, Caribbean Actuarial Association and Member of the Institute and Faculty of Actuaries. Todd is a Chartered Economist (ChE), Certified Risk Analyst (CRA), Certified Organizational Risk Manager (CORM), RIMS Fellow (RF), Fellow of Risk Management (FRM), Chartered Property & Casualty Underwriter (CPCU), Associate in Risk Management specializing in Public Entities (ARM-P), Master Project Manager (MPM), Accredited Financial Analysis (AFA), Accredited Management Accountant (AMA) and Workers Compensation Claims Law Specialist (WCLS).

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James R. Mahurin
Risk Management Consultant and member of the Society of Risk Management Consultants

Self-employed Risk Management and Insurance consultant providing fee-for-service assistance to the insurance buyer.  Perform risk management studies, independent evaluations of commercial insurance programs, conduct competitive proposal/bid process and self-insurance feasibility studies.  Work experience includes projects in approximately twenty states.  Litigation support and expert witness services to law firms began following the Daubert decision in 1993. This work split is approximately fifty/fifty between plaintiff and defense.  Litigation involvement includes agent custom and practice, flood (including both NFIP and private insurance), property, crime, liability, employee benefits, property leases, Broad Form Property Damage (BFPD), etc.  The BFPD includes both course of construction and construction defects.


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Brianna Moyer
Digital Marketing Manager & Website Administrator

Brianna Moyer joined the Adjusters International team in 2014 as the Social Media Specialist and was promoted to Digital Marketing Manager and Website Administrator. Brianna collaborates with AI’s nationwide firms to create robust social media campaigns while assisting the firms with updates to their websites regarding new search engine optimization techniques, content, imagery, the latest technology, and more. She regularly reports to management and the firms while measuring the effectiveness of different strategies. Brianna monitors the latest trends in social media and web design to keep AI on the cutting edge.

Since joining Adjusters International, Brianna has introduced new media ventures such as a podcast series titled, Property Insurance Roundtable and producing video clips. Ms. Moyer writes content for the websites which include blogs, web news stories, and landing pages. She has also been instrumental in creating Standard Operating Procedures for various AI initiatives such as trade shows and disaster plan protocols.

Prior to joining Adjusters International, Brianna worked as an Assistant Business Manager and Sales Assistant at Townsquare Media. In her free time, she pursues freelancing opportunities as a graphic designer and website developer.

For further information on this topic, please read our Adjusting Today article: “Builder’s Risk Insurance: Specialized Coverage for Construction Projects.”