Builders are finding it expensive — for some, impossible — to get liability insurance, according to Timothy Harris, general counsel for the Building Industry Association of Washington . “A number of insurers have pulled out of the market entirely,” he says.
Harris indicates he’s heard from several builders, with good records and no claims, whose premiums have gone up four and five-fold. Those who may have a claim against them are truly in dire straits, he says.
The BIAW has worked legislatively to reduce the liability on builders. read more »