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For more information information, click here to download a PDF version.

 

Insurance Information Institute: 
"Insurance carriers are looking at the 80-plus percent loss rate for builders involved in CDL cases (The contractor liability insurance cost and coverage problem, Ducker Worldwide).  They are looking at the jury awards which have increased ten-fold in the past dozen years.  Several carriers recognize that comprehensive documentation programs – and this includes document retention and document provision initiatives – can lower risk profiles and are willing to consider this when adjusting insurance costs."


     
 

 

 

 


Reducing Exposure to Risk

Building used to be about building homes, but in today’s business environment, builders have to worry just as much about insurance, liability, paper-trails, contracts and transparent accountability.  A builder has some liability for every component in every home in every community they have built for up to twelve years (in some states).  Despite the minefield of risk and legal action, a builder can actually reduce their exposure to risk if their documentation is in good order.

And during a time when homeowners feel their homes have been somewhat devalued by market forces, they are more apt to “protect” their investments in the form of lawsuits.  What makes this a perfect storm is that as many builders downsize and cut costs, the lack of maintainable resources leave them more vulnerable to legal action.

Our solutions help mitigate builder risk by:

Providing documentation that promotes a strong affirmative defense for CDL, warranty claim or other lawsuits
   
Meeting the compliance requirements of all 50 states right to repair laws including CA SB800, TX TRCC requirements, AZ HB2620, NV SB241, FL SB1286, WA SB5536, CO HB1161 and many others
   
Lowering a builder's risk profile, which in, turn may reduce insurance premiums and legal expenses
   
Promoting smart transference of maintenance and warranty information
   
Simplifying warranty issue operations including the warranty recovery process
   
Ensuring instant access to the right document at the right time: eliminating the epidemic of missing or misfiled documents
   
Establishing best practices and processes regarding corporate accountability

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