Takeaways from the 32nd IRMI Construction Risk Conference
This year, as in years past, the IRMI Construction Risk Conference did not disappoint. The event was a wonderful opportunity to greet familiar faces and meet new ones in the industry, and to be informed on the state of wrap-up programs in construction.
We honed in on two sessions in particular that pertained to these topics.
The workshop, “What’s Working and Not Working About Wrap-Ups” was an advanced discussion on the finer details of CIP coverage. Geared towards risk managers at CIP Sponsor organizations and their advisors, the session gave us insights into deductible allocation, retention of counsel, contractual indemnity, defense and claims, and issues related to excess insurance coverage. The session was presented by Kurt Campbell of Klinedinst PC and Erik Davis of R-T Specialty Insurance Services, both very knowledgeable on the topics at hand.
The “Wrap-Up Feasibility—Beyond the Numbers” workshop was a detailed presentation on the technical aspects of measuring the feasibility of a wrap-up for a particular project. Presenters Kathleen Creedon of Creedon, Inc. and Catherine Wells of Ron Rakich and Associates discussed how a feasibility study should be performed in order to provide stakeholders with the information they need to make an informed decision on a CIP. This was a ‘must attend’ session for sponsors contemplating a CIP on their projects and brokers looking for more insight on preparing useful feasibility studies for clients.
All in all, our time in Orlando, just a drive away from our headquarters in Coconut Creek, FL, was productive and enjoyable. Workshops were enlightening and presented by knowledgeable industry leaders, Meals and networking receptions were graciously presented by generous sponsors, and the Gaylord Palms in Orlando, FL was a fitting and festive site for the event. We look forward to another exciting IRMI Construction Risk Conference next year.