Builders Risk And Related Tax Credits-Builders Risk And Related Tax Credits

Video Transcription

Video Summary

Today's webinar, hosted by the Inland Marine Underwriters Association, focused on Builders' Risk and Tax Credits. The presenter, Ray Stutzke, an Account Engineer for CHUB's Inland Marine Unit, delved into the underwriting challenges associated with Builders' Risk renovation projects and the unique considerations surrounding Engineered Risk Accounts. Ray emphasized the importance of understanding the historic tax credit program and its all-or-nothing nature based on the placed-in-service date. He provided insights into coverage extensions such as soft costs and time element related aspects. Moreover, he discussed the underwriting evaluation and risk management strategies for projects seeking historic tax credits, including state and federal incentives. Ray outlined case studies highlighting the underwriting considerations for both historic and low-income tax credit projects, emphasizing the need for specific endorsements tailored to address tax credit coverage. The webinar concluded with an interactive Q&A session addressing queries on tax credit agreements, loss scenarios, and underwriting practices. Ray's comprehensive overview underscored the intricacies of insuring and underwriting historic tax credit projects, emphasizing the importance of thorough risk assessment and tailored coverage provisions.

Asset Caption

Date of Publication: June 27, 2017
Duration: 61 minutes

Tax credits can be an important component of a builders risk project. This session will provide a look at the issues underwriters should be aware of regarding types of projects and related tax credits.

Meta Tag

Module Builders Risk, Installation & Rigging

Keywords

Inland Marine Underwriters Association

Builders' Risk

Tax Credits

Ray Stutzke

CHUB's Inland Marine Unit

Underwriting Challenges

Engineered Risk Accounts

Historic Tax Credit Program

Coverage Extensions

Risk Management Strategies