PRESS RELEASE – For Immediate Distribution

 

C-Risk Expands Construction Defect Mitigation Focus.....

Denver, CO, February 26, 2001 – C-Risk President, David L. Grenier, announced the expansion of the www.C-Risk.com website to include more information on "Construction Defect". In addition to the construction risk management information and resources currently available in the C-Risk website and Reference Library, the expanded Construction Defect sections focus on construction defect mitigation practices, construction defect claims & litigation, Exterior Insulation and Finish Systems (EIFS)-related construction defect issues, and construction defect legislation and laws in certain parts of the U.S. Particularly, Colorado, and California, which has led the nation in construction defect-related claim issues.

"The construction defect dynamic has been plaguing the construction industry in various parts of the U.S., for the past decade. The focus is on CD awareness. We need to educate builders and developers involved in the construction of residential structures on quality improvement processes and provide programs in order to mitigate their CD risks and exposures. The CD issue has gotten out of hand. The trial attorneys are having a hay-day with the homeowners associations, at the expense of the builders and developers", says Grenier.

The proliferation of construction defect claims has resulted in many insurance companies recently abandoning construction contractors involved in residential building construction. Particularly, general contractors and artisan contractors in the excavation, concrete, carpentry, siding, stucco, and roofing trades. These contractors and subcontractors are not only having a difficulty time obtaining insurance coverages, but many are being declined coverage if they work on any multi-family attached housing projects or common interest developments, such as condominiums, cooperatives, townhouses, or planned communities. Some insurers have even incorporated residential construction and multi-family/attached-housing exclusions on their General Liability policies.

"The Construction Defect section is not only a major expansion to the C-Risk website, but it augments our Construction Defection Mitigation practice. The C-Risk CD Mitigation business unit provides construction defect investigation and analysis services to insurance companies for cause and origin of alleged defects, and a variety of other risk management consulting services to builders, developers, and contractors. Our emphasis is on quality-housing construction by offering innovative risk management solutions which provide real value to builders, while providing homeowners with assurance of a quality-constructed and defect-free home", says William J. Jorgensen, a construction defect expert from Southern California and a Vice President of C-Risk's CD Mitigation business unit.

For additional information about C-Risk Construction Defect Mitigation services and how we can assist you with your company's risk management program requirements, please contact us at 503-228-0884, email consulting@c-risk.com, or visit our website at www.C-Risk.com.