We have the same problem in Pennsylvania. If you want to expend the program to PA, we would gladly market it for you. After 100+ years of writing homebuilders the industry still hasn’t priced it properly to provide a consistent marketplace
Good News!
Let the private insurance market beware that they will lose market share and premium income never to be seen again. More industry groups should do the same thing and leave private insurance companies in the dust. Then lets see how much equity income the private insurance companies will show on their books.
Home builders should also consider express remedy aggreements if allowable by state statutes. Also, key aspects of risk managment for builders should include the proper disclosure acceptance expectations between the builder, the sub-contractor, and the homeowner. It is the reason some states have only a 3% loss ratio against construction defect
disputes. Any specialized captive would be wise to consider such additions mandatory to their coverage.
We have the same problem in Pennsylvania. If you want to expend the program to PA, we would gladly market it for you. After 100+ years of writing homebuilders the industry still hasn’t priced it properly to provide a consistent marketplace
Good News!
Let the private insurance market beware that they will lose market share and premium income never to be seen again. More industry groups should do the same thing and leave private insurance companies in the dust. Then lets see how much equity income the private insurance companies will show on their books.
Home builders should also consider express remedy aggreements if allowable by state statutes. Also, key aspects of risk managment for builders should include the proper disclosure acceptance expectations between the builder, the sub-contractor, and the homeowner. It is the reason some states have only a 3% loss ratio against construction defect
disputes. Any specialized captive would be wise to consider such additions mandatory to their coverage.
c’mon over to Jersey for the settlement meeting we’re pouring concrete today:)