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Construction and Fire Risk: An Insurance Perspective

Aug 1, 2024   |   1:00 PM – 2:30 PM ET
Virtual Event

Buildings are built using a variety of construction types, methods, and materials. There are many risks to property and occupants, including fire, water, intrusion, extreme weather, and other natural disasters.

Developers and owners of multifamily buildings must insure these buildings during construction and occupancy over the building lifetime against these risks. Fire, however, continues to result in more fatalities in the United States than all other disasters combined.

Jeff Benson will present on the current state of the construction insurance marketplace, focusing on underwriting issues related to the increasing wildfire exposures around the country and how construction materials affect availability and cost of insurance for projects under construction.

Shamim Rashid-Sumar will provide an overview of the 2024 survey of insurance costs for multifamily buildings constructed with wood-frame and concrete, quantifying differences in costs to insure buildings of combustible versus non-combustible construction.

Dr. Anne Cope will discuss the ongoing wind and wildfire research of the Insurance Institute for Business & Home Safety (IBHS). Dr. Cope will provide insights on how the findings lead to actionable resiliency guides and voluntary designation programs.

Speakers

 
Jeff Benson
Jeff Benson

Vice President and Program Manager, Victor Insurance

Shamim Rashid-Sumar
Shamim Rashid-Sumar

Senior Vice President, Codes and Standards, National Ready Mixed Concrete Association

Edgar Westerhof
Dr. Anne Cope

Chief Engineer, Insurance Institute for Business & Home Safety

 

Learning Objectives

  • Understand the risk to buildings posed by fire.
  • Develop an awareness of the current state of the construction insurance marketplace.
  • Recognize how construction materials affect availability and cost of insurance for building projects.
  • Learn how current research in wind and wildfire translates into resiliency programs.

Accredited by

AIA Learning Units:

1.5 LU

ICC CEU:

0.15 CEU

Sponsored by

NRMCA

View the Recorded Webinar