Builders Risk: Water Damage & Hot Work-Builders Risk: Water Damage & Hot Work

Video Transcription

Video Summary

In the video, a class on Builder's Risk, water damage, and hot work is presented by the Inland Marine Underwriters Association. The discussion explores the rise in water damage claims in construction projects due to various causes like plumbing failures and negligence, emphasizing the financial impact on projects and the role of builder's risk insurance in covering losses. Prevention measures such as the use of PEX piping are highlighted. The importance of hot work safety measures in construction sites is also underscored, focusing on the need for designated work areas and safety protocols to prevent fires. The significance of a formal hot work permit system, adherence to safety protocols, and the preventable nature of fires through proper planning and implementation of fire safety measures are discussed. The class emphasizes the crucial role of contracts, quality control, risk management, and training in mitigating water damage and fire risks in construction projects.

Asset Caption

Date of Publication: February 2, 2021
Duration: 3 hours

This comprehensive class on examines these two dangerous builders risk exposures. Water damage has been referred to as "the new fire" and hot work is the leading cause of fire on a construction site.

Presented by:
Dustin Jones, AVP, Marine Manager, AXA XL
Robert Almond, Loss Prevention Consultant, Great American

Meta Tag

Module Builders Risk: Water Damage & Hot Work

Keywords

Builder's Risk

Water Damage

Hot Work

Inland Marine Underwriters Association

Construction Projects

Plumbing Failures

Negligence

Builder's Risk Insurance

PEX Piping

Hot Work Safety Measures

Designated Work Areas

Safety Protocols

Hot Work Permit System

Fire Safety Measures

Risk Management