Managing Risks and Opportunities: The Impact of Artificial Intelligence (AI) on the Construction Industry
Monday, Jan. 29, 2024 - 4:30 PM - 6:00 PM EST
Bethany L .Barrese, Saxe Doernberger & Vita, P.C.
Joe Poliafico, CSP, Construction Risk Partners
Trent Miskelly, Document Crunch
Emily Short, Baldwin Risk Partners
Shaun Carvalho, Shawmut Construction and Design
As artificial intelligence (AI) continues to weave its way into our daily lives, it’s vital to grasp its implications for the construction industry, particularly in the realm of risk management. Join us for this thought-provoking session, which serves as one of two dynamic kickoff breakouts at the conference.
From insurance carriers to construction companies and everywhere in between, our panel will delve into the transformative potential of AI on insurance coverage, underwriting, and claims processing, as well as the growing use of AI-driven solutions like ChatGPT within an organization and the possible risks/benefits of AI. While AI technology is evolving quickly, this session aims to foster awareness, spark discussions, and anticipate future directions for AI.
Join us for a compelling session to:
Gain a comprehension of AI’s broad-reaching influence on our daily lives and business operations.
Learn how AI is being used by insurance carriers to improve efficiency and risk prediction.
Explore how AI could affect insurance coverages moving forward and the effect it will have on underwriting all lines of coverage as well as look at potential legal issues around cyber coverage.
Discuss the legal implications of AI and how to navigate the opportunities and risks.
Navigating Insurance Coverage for Accident-Related Project Delay
Tuesday, Jan. 30, 2024 - 10:00 AM - 11:00 AM and 4:30 PM - 5:30 PM (repeat) EST
Jeremiah Welch, Saxe Doernberger & Vita, P.C.
Russ Johnson, VP, Skanska USA Building Inc.
Patrick O’Connor, The Walsh Group
Tammy Pike, Kiewit Corporation
The industry is plagued by misunderstandings about insurance coverage for delays. This session will focus on describing and quantifying delay using real scenarios, and then on working through the presentation and coverage for those delays through the lens of builders risk, general liability, and professional liability insurance. We will highlight common disagreements between insurers and insureds, and the panel’s and audience’s experiences with each, ultimately arriving at strategies to facilitate claim payment and avoid insurance disputes.
Join us so you can:
-Develop a consistent understanding and way of describing delay damages for the purposes of an insurance claim (what types of delay are there and how it changes depending on who is making the claim).
-Understand how builder’s risk coverage applies to delay damages (including dispelling myths about how “delay exclusions” apply).
-Learn how general liability insurance applies to delay damages.
-Identify strategies to address common disputes arising out of delay claims.
Essential Issues in Builders Risk: Examining the Critical Modern Strategies That Drive a Successful Product
Tuesday, Jan. 30, 2024 - 11:25 AM - 12:25 PM and 3:05 PM - 4:05 PM (repeat) EST
Gregory D. Podolak, Saxe Doernberger & Vita, P.C.
James Moye, Jr., Nielson, Hoover & Company (NHG Specialty)
Andrea Nelson, Manhattan Construction Company
Alex Stephens, Stratus Risk Associates
This discussion – featuring legal and risk management veterans – will examine cutting-edge issues and negotiating tactics in program placement and claim adjustment. It will explore all aspects of a successful placement, including navigating hard market conditions, identifying critical language negotiations, anticipating emerging legal strategies that may undermine coverage, and proactively preparing claims to achieve maximum recovery.
-To understand and learn how to anticipate emerging legal strategies aimed at undermining coverage.
-To obtain tactics for earlier and more comprehensive language negotiation designed to reinforce coverage intent.
-To gain a better understanding of market conditions from industry leaders and identify opportunities for creating negotiating.
-To develop best practices for thorough, timely, and cost-effective claim preparation to enhance recovery potential.
Understanding Coverage Nuances Between Builders Risk and CGL Coverage for Damage to the Project
Wednesday, Jan. 31, 2024 - 9:30 AM - 10:30 AM EST
Jeffrey J. Vita, Saxe Doernberger & Vita, P.C.
Regina Adler, Marsh
In any complex construction claim involving property damage to the project, CGL and Builder’s Risk coverages are typically the initial targets of recovery. Understanding the extent to which these coverages dovetail and whether there are any unexpected coverage gaps is essential for successful risk transfer. In addition, the parties involved will need to coordinate their contract language with the applicable coverages. The timing and cause of damage, whose property is damaged, and how the loss or claim unfolds will directly impact: 1) whether both policies are triggered; 2) whether only one of the coverages is available; or 3) whether neither coverage is triggered due to a coverage gap, exclusion, or other limitation of coverage.
Come to this session to learn how to identify these coverage challenges as well as the potential solutions. The speakers also will identify recent cases that illustrate these concepts. Appreciating these nuances and avoiding coverage gaps is critical to presenting the claim and maximizing coverage.
Hope to see you there!