Insurance Essentials for Precast Industry Professionals-Insurance Essentials for Precast Industry Professionals Presentation Handout

Insurance Essentials for Precast Industry Professionals Presentation Handout

Pdf Summary

The document details a webinar titled "Insurance Essentials for Precast Industry Professionals" held on May 1, 2025. Hosted by the Precast/Prestressed Concrete Institute (PCI), this educational session offers insights into navigating the insurance landscape tailored specifically for the precast industry professionals. The session aims to demystify complex insurance topics, equipping participants with knowledge to handle contractual insurance requirements effectively.<br /><br />The webinar is presented by Gary Semmer from Assured Partners, a seasoned executive in construction insurance, and Justin Schneider, a construction practice attorney. The course provides attendees with 1.0 Professional Development Hour (PDH) through the Registered Continuing Education Program (RCEP). Upon completion, participants receive a certificate, though the program is not an endorsement by RCEP.<br /><br />Key topics include indemnification clauses, where attendees are advised to review contracts for indemnity language that might fall outside liability insurance coverage. The webinar also covers workers' compensation, detailing statutory limits and employers' liability, emphasizing the importance of considering waivers of subrogation.<br /><br />General liability topics include typical limits for various covers, additional insured coverage for different operations, and potential endorsements like primary/non-contributory status and riggers liability. Umbrella/excess liability, professional liability, pollution liability, and property coverage are explored, with a focus on limits, claims made coverage, and additional insured terms.<br /><br />Further, the session outlines additional insurance requirements such as A.M. Best Ratings, certificates with endorsements, and maintaining coverage post-construction completion per Statute of Repose. Compliance with stringent insurance terms in primary contracts with key project stakeholders is emphasized, along with obtaining similar coverage from subcontractors and suppliers.<br /><br />Audience engagement is facilitated through a question section where participants can seek clarifications within a structured digital interface.

Keywords

Insurance Essentials

Precast Industry

Webinar

Precast/Prestressed Concrete Institute

Professional Development Hour

Indemnification Clauses

Workers' Compensation

General Liability

Umbrella Liability

Construction Insurance