RIMS Canada Conference 2023 will take place Monday, September 11 - Thursday, September 14 at the Shaw Convention Centre in Ottawa. This industry focused event is well-known for providing top keynote speakers, stimulating panel discussions and informative education sessions with risk management experts. Experienced risk professionals attend the conference to learn about solutions to everyday challenges they face as well as find products and tools that will assist them to do their jobs better and more efficiently. Through education and networking with exhibiting partners and other risk management professionals, attendees will walk away with new resources and techniques to demonstrate risk management value for their organizations.
When a Natural Disaster Strikes! Best Practices for Readiness and Response to Fully Recover Through an Insurance Claim
Wednesday, Sept. 13, 2023 - 12:00 PM - 12:20 PM EDT
Tracy Alan Saxe, Saxe Doernberger & Vita, P.C.
Frak Russo, Imperium Consulting Group
Amjad Khadhair, PCL Construction
Since the turn of the millennium, natural disasters have been occurring more frequently and with greater potency, creating a real and heightened financial risk to construction projects of all sizes.
Given that natural disasters can strike at any moment and have the ability to cause unprecedented damage, destruction and delays to construction projects, contractors must carefully review their contracts and insurance policies to be ready to quickly implement recovery strategies and to effective present loss costs following catastrophic natural disasters.
Risk management, insurance and claims strategies related to natural disasters must be well considered ahead of a disaster. These pre-loss activities should happen early and often and should become a part of a contractor’s operations and culture. As the economist Howard Ruff famously commented, ‘It wasn’t raining when Noah built the Ark’.
Equally important are the immediate response activities and strategies after an event that focus on mitigating delays, impacts and cost increases to the project while working to optimize the presentation of the loss for financial recovery.
This panel of experts representing a large National Contractor, claims management, and litigation will present best practices for Contractors when preparing for and mitigating the project financial and delays impacts of a natural disaster. This will include a discussion of loss mitigation strategies; ways to navigate through complex property, builder’s risk, delay in start-up, business interruption insurance and FEMA claims; and recommendations for optimizing presentation of the loss costs for reimbursement.
To learn more or to register, click here.