October 16, 2014
To help risk managers and brokers serving the construction industry better understand and manage the specific insurance challenges they face, Liberty Mutual Insurance experts will participate in two workshops at the upcoming International Risk Management Institute’s Construction Risk Conference.
“The construction industry faces a host of complex risks,” notes Doug Cauti, chief underwriting officer for Liberty Mutual’s Commercial Insurance construction practice. “The IRMI Construction Risk Management conference is a great opportunity to learn how to manage these in order to better protect employees, the public and bottom lines.”
The two workshops at IRMI that will feature Liberty Mutual experts and risk managers are:
- Keeping Insurance Requirements Up To Date (Monday, November 10, 10:30 to 12:00) – Almost all construction contracts include sections detailing insurance requirements. However, the insurance language used in these is often outdated or incorrect. These inaccuracies often create conflict when parties try to meet the construction contract’s insurance requirements with standard insurance policies. The workshop reviews the common mistakes in insurance requirement language and suggests alternative contract language that uses the correct insurance terminology
- Building a Hazard Risk Analytics Platform to Reduce Tangible Cost of Risk (Wednesday, November 12, 8:30-9:45 a.m.; repeated at 10:05-11:20 a.m.) – The workshop reviews the key components of an analytics platform and how risk managers can establish such a platform to reduce their cost of risk. Specifically, the presentation explores:
- How construction companies can use benchmarking to better understand program performance, identify key cost drivers, and effectively address these
- Concepts in sourcing and using hazard risk data to help an organization more quickly identify and respond to opportunities to improve safety
In addition to Doug Cauti, other construction risk management experts from Liberty Mutual attending the upcoming IRMI conference include Tim Kania, senior vice president, Liberty International Underwriters and Roland Richter, vice president, Liberty Mutual Surety.
A video providing more information on some of the risk management challenges facing contractors and project owners can be seen on Liberty Mutual Insurance’s YouTube channel.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps preserve and protect the things people earn and own and build and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries around the world. The company is the third largest property and casualty insurer in the U.S. based on 2013 direct premium written as reported by the National Association of Insurance Commissioners.
Liberty Mutual is ranked 76th on the Fortune 100 list of largest corporations in the U.S. based on 2013 revenue. As of December 31, 2013, Liberty Mutual Insurance had $121.2 billion in consolidated assets, $102.2 billion in consolidated liabilities, and $38.5 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in approximately 900 offices throughout the world, and we offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more by visiting www.libertymutualinsurance.com.
