Press Release

IRMI Construction Risk Conference Sets New Record for Attendance

Orlando, FL, November 1, 2007—Nearly 1,700 risk managers, agents, brokers, attorneys, and underwriters who specialize in managing or insuring the risks associated with construction projects convened here October 29-November 1 for the 27th IRMI Construction Risk Conference. This attendance figure marks a new record for the Conference, which boasts the largest gathering of construction risk professionals in the world.

The IRMI Construction Risk Conference is the only national symposium devoted exclusively to managing, insuring, and bonding the risks of construction projects. The Conference featured a general session, a full-day workshop, and 27 breakout workshops that were presented by 65 nationally recognized insurance, risk management, and surety experts.

Contractors large and small sent their risk, insurance, and safety managers. In addition, virtually all the major providers of insurance or surety services were represented, and a substantial number of risk managers representing project owners (i.e., companies with large construction projects planned or under way) attended this year. The hot topics at this year’s Conference were the new consensus contract documents and their contractual risk transfer implications, wrap-up programs, umbrella liability insurance coverage, and builders risk insurance coverage issues.

"While residential construction has slowed dramatically in the past year, increases in infrastructure and commercial construction activity have offset its decrease throughout the United States, and risk costs remain a major competitive factor for contractors," said IRMI president and Conference cochairman Jack Gibson. "The insurance market has softened considerably since last year’s Conference and many contractors are enjoying reduced premiums and expanded coverage terms. However, underwriters have not thrown caution to the wind and are trying to confine their best terms to the contractors with superior risk management programs. By bringing insurance underwriters, intermediaries, and buyers together, the Conference provides unique opportunities to learn the la market trends and explore solutions to the industry’s risk and insurance challenges. We believe this is the reason the Conference has consistently grown each year since 2001."

The 28th IRMI Construction Risk Conference will be held October 27-30, 2008, in Las Vegas. For information concerning the 28th IRMI Conference, visit IRMI or contact International Risk Management Institute, Inc., at 12222 Merit Drive, Suite 1600, Dallas, TX, 75251, phone 800–827–4242, in Dallas, 972–960–7693, or fax 972–371–5120.