Head of Home Builder Insurance for Berkshire Hathaway Specialty Insurance Katie Beck sits down with Jenny Simon, director of marketing communications for IBACOS to break down the challenges she faces when offering and underwriting coverage for builders.
Beck dives into the details on how insurance companies are changing their coverages and how builders can protect themselves through these ever-changing times.
“The number of different sources of loss, along with the timing of when those losses come in make it really hard for us to project losses,” says Beck. “If you couple that with the market changes that we’ve seen over time, whether it be the big boom in the mid-2000s, the decrease in the late 2000s, the changes in the builder processes and how they do things, builder codes— all of those things push and pull on what the losses are going to be.”
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