Course Details
hours
7.0
price
$99.00
This course is not subject to discount pricing.
  • Course:
  • Internet
  • Exam:
  • Internet

Additional Credit Available:

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Design-Build Risks and Insurance

Reaccreditation >> IRMI Renewal

 

Course Description
Design-Build Risks and Insurance offers an introduction to important risk management techniques and concepts for design-build construction project participants. It provides a general overview of the design-build construction project delivery method, including the advantages and potential disadvantages of this approach for both project owners and the design-build team. Specific attention is given to the risks encountered in design-build construction with an emphasis on those provisions that present unique or nontraditional risk allocations. Significant attention is given to the scope of coverage contractors have for these risks in their basic insurance program, and well as their professional liability insurance policies. A detailed overview of the purpose and function of contractors professional liability insurance and architects and engineers professional liability insurance is provided, including a discussion of coverage triggers, covered damages, exclusions, and policy conditions, to name a few.

This is an intermediate-level course. Students who successfully complete this course will be able to

  • recognize the key differences between the design-build construction project delivery method and traditional design-bid-build construction method; 
  • identify the common barriers to design-build construction; 
  • recognize typical contractual risk allocations in design-build construction and the unique exposures they create for the project participants; 
  • identify typical design-build contract insurance requirements, challenges in complying with these requirements, and strategies for negotiating changes; 
  • identify coverage for design-build liabilities in standard insurance policies; 
  • distinguish among the mechanics of a professional liability insurance policy, including strategies for filling potential coverage gaps due to the claims-made coverage trigger in professional liability policies; 
  • identify the scope of coverage provided under typical contractors professional liability and architects and engineers professional liability insurance policies; 
  • identify the purpose, availability, and challenges of project-specific professional liability insurance; and 
  • identify the impact of design-build construction on surety bond underwriting.

Prerequisites

While there is no required prerequisite or advance preparation for this course, students might find it beneficial to take Commercial Liability Insurance for Contractors before taking this course.  

CPE Field of Study
Management Services/Risk Management

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.


By IRMI
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference services. IRMI publications are considered the ultimate authority by leading insurance practitioners and even federal appellate courts when interpreting insurance coverage. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.