Wednesday, April 1, 2009

The First to Market Insurance Program Designed to Protect Developers, Contractors and Subs Removing Chinese Drywall

The First to Market Insurance Program Designed to Protect Developers, Contractors and Subs Removing Chinese Drywall

Beane & Bennett, a Miami based insurance brokerage company specializing in the construction industry, who have earned an outstanding reputation as one of the nation's leading Construction Risk Specialists, is taking their expertise to address a new area of concern - Chinese drywall.

Miami, Florida (PRWEB) September 4, 2009

Beane & Bennett, a Miami based insurance brokerage company specializing in the construction industry, who have earned an outstanding reputation as one of the nation's leading Construction Risk Specialists, is taking their expertise to address a new area of concern - Chinese drywall.

Beane & Bennett has introduced an innovative insurance program for Developers, Contractors and Subcontractors which is the first of its kind in the market. They have structured Commercial Liability Insurance for the General Liability, Pollution Liability and Professional Liability risks associated with the remediation - the actual tear out and replacement of this toxic Chinese drywall. "With Chinese drywall being so prevalent in the news, and more and more companies being contracted to remediate the problem, we began researching the types of insurance programs that existed to protect those responsible for the removal," said Brandon Beane, the company's CEO. "We were surprised to discover that there were, in fact, no insurance programs like this available and realized there was an opportunity here."

Chinese drywall has gained a tremendous amount of public attention over the past year. Homeowners in Florida, as well as other parts of the country, have claimed that drywall which was imported from China is making them ill and corroding the HVAC systems and plumbing in their homes. It is estimated that over 100,000 homes and commercial grade structures in the United States - most of which were built between 2003 and 2007, may contain some of the allegedly defective drywall, which is currently being investigated by a number of government agencies, including the Environmental Protection Agency and the Centers for Disease Control.

Decisions are still pending regarding the impact Chinese drywall may have on general liability carriers. Regardless of where the responsibility will ultimately lie, homeowners are forced to repair the damages to their home. "There are inherent risks associated with the removal of toxic Chinese drywall," said Richard Bennett, the firm's COO. "Being that we specialize in construction risk management, this was a natural fit."

Remediation protocols for Chinese drywall have not yet been established and if not performed correctly or adequately, remediation of homes with Chinese drywall could lead to even more problems. Cross-contamination is occurring, and after homes have the sheetrock torn out and replaced sulfur diffusion continues to occur. The problem seems to be that diffusion of sulfur gases will continue to occur because the protocol for removal and replacement are greatly flawed. Simply removing drywall from the home and replacing it with new drywall will not protect occupants from possible health problems. This is now being documented not only in laboratories but also in Florida case histories.

Beane & Bennett's insurance program will offer protection for those Developers, Contractors and Subcontractors that have been hired to remediate Chinese drywall and give them some peace-of-mind as they delve into this unchartered territory.

About Beane & Bennett

Beane & Bennett are Construction Risk Specialists that are solely committed to servicing the construction industry. From establishing the scope and budget to understanding the risks and current levels of protection, there needs to be a solid plan in place that will help companies build on a solid foundation. By drawing on years of experience, Beane & Bennett identifies costly risks before they occur and helps turn them into potential profit centers. Throughout the entire construction process, they perform risk assessments at every stage of a project's life. They are involved at every level, from owners, contractors and subcontractors to architects, engineers and suppliers working with them to keep the project moving. Their Construction Risk Specialists collaborate with their clients and their client's team to develop the right program to fit each client's specific needs. Their team of dedicated professionals bring nearly 50 years of combined experience to the industry. By integrating their diverse expertise and keen insight, they have advised many industry insiders on how to mitigate risk.

At Beane & Bennett, each of their services is tailored to meet a client's specific requirements. Throughout the duration of a project, their Construction Risk Specialists will work closely with all parties involved to ensure that the goals and budgets are managed. They take pride in how they service their clients as well as the positive outcome of each project. 

If you'd like more information about Beane & Bennett's Commercial Liability Insurance for the General Liability, Pollution Liability and Professional Liability risks associated with the remediation of Chinese drywall or to schedule an interview with Brandon Beane or Richard Bennett, please call: (305) 722-2690.

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