US developers of domestic homes and apartment buildings often rely on Lloyd’s and the London market to insure their risks. These insurance policies typically span multiple years and insurance towers, with long insurance "tails" allowing homeowners to submit claims over extended periods.
Given the nationwide construction of homes and large subdivisions, the volume of claims can be substantial. TMCM’s experienced adjusters work with the insured and insurers to oversee the entire program. They assess claim documentation and coverage, and monitor accounting to ensure proper application to the relevant policies.
The construction industry’s broad scope and scale can result in numerous claims, whether from the developer's perspective or building artisan programs. These claims often involve construction defects, including damages from footings, subsidence, and roof issues, triggered by the close of escrow dates. Additional claims can include:
- Disputes over the quality of work, defective work, compliance, or certification
- Defects identified after construction is completed and/or the building becomes occupied
- Contractual disputes
- Claims related to the suspension of works
- Personal injury claims
Claims may be raised by homeowners, the public, and regulatory bodies. When not managed correctly, these claims can have a significant financial and reputational impact. Studies have shown that improperly or inefficiently managed claims can lead to unnecessary disputes and additional claims.
For support with construction industry claims, Thomas Miller Claims Management offers the following services:
- Specialist claims handling
- Third-party administration
- Medical assistance
- Offshore personal injury
- Legacy claims solutions
- Audits
Work with a team that excels in handling construction industry claims at the highest level. Partner with TMCM. Contact us now for a free, no-obligation consultation regarding your requirements.
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