Three New Books From IRMI Help Avoid Costly Mistakes

DALLAS—International International Risk Management Institute, Inc., announces its release of three new books that will help contractors; project owners; and the insurance, risk management, and legal professionals who serve them avoid costly errors. The IRMI books are The Additional Insured Book, fourth edition; The Wrap-Up Guide, third edition; and Insurance for Defective Construction: Beyond Broad Form Property Damage Coverage. 

The Additional Insured Book, Fourth Edition 

Requiring one company to add another as an additional insured on its policies is commonplace with almost every type of contractual transaction, and there are good reasons for it.  However, it is a highly misunderstood and controversial area that can cause significant problems.  The Additional Insured Book, fourth edition, points out these problems and offers you practical ways to avoid them. 

The book examines problems with standard endorsement forms, including those that attempt to preclude coverage for completed operations; presents suggestions for modifying coverage to correspond with contractual risk transfers involving less than sole fault of the parties; critiques the good and potentially troublesome areas of several manuscript additional insured endorsements that are in use; and explains how certificates of insurance can be used in tandem with insurance policies to broaden or limit the extent to which coverage may apply to additional insureds. 

The Additional Insured Book, fourth edition, was written by Donald S. Malecki, CPCU, chairman and CEO of Donald S. Malecki & Associates, an insurance and risk management consulting firm; Pete Ligeros, JD, a California-based lawyer who is president of Ligeros & Associates; and Jack P. Gibson, CPCU, CLU, ARM, president of IRMI. 

The Wrap-Up Guide, Third Edition 

Wrap-up (or owner-controlled) insurance programs have quickly become the preferred way to insure large construction projects.  Owners and contractors may benefit from improved coverage at reduced costs.  But, if wrap-ups are used for the wrong projects or are not administered properly, the savings quickly disappear. 

The Wrap-Up Guide, third edition, explains when it is best to use wrap-ups and when it is not.  This guide also helps OCIP administrators plan, implement, and manage successful wrap-up programs.  The author, Gary Bird, CPCU, ARM, is director of risk management for Phelps Dodge Corp., a multinational mining and manufacturing company.  Mr. Bird's extensive experience as an underwriter and risk manager lends practical insight to his strategies and recommendations. 

Insurance for Defective Construction:  Beyond Broad Form Property Damage Coverage 

When the structure collapses, leaks, burns, or just does not work as it should—and the contractors are sued—unraveling the complicated exclusions and provisions of the CGL policy becomes a time-consuming and expensive proposition.  Insurance for Defective Construction explains the latest legal theories and policy form changes to give its readers the knowledge to decipher coverage intent and develop winning coverage arguments.  The following are just a few of the arguments settled within this guide. 

• The insurer's argument that a breach of contract does not give rise to a legal obligation covered by the CGL policy

• The insurer's argument that breach of contract does not constitute an accident or occurrence under a CGL policy

• Coverage arguments that go beyond the language of the policy, including "work product" exclusions, noninsurance "business risks," and the "CGL policy as performance bond."

Insurance for Defective Construction was written by Patrick J. Wielinski, a shareholder in the law firm of Ford White Wielinski & Salazar P.C. in Dallas.  Mr. Wielinski also is a co-author of the IRMI reference Contractual Risk Transfer.  IRMI President Jack Gibson commented, "Pat is a great author for IRMI because he is an expert attorney who writes in our language!"

The prices of these books are as follows: The Additional Insured Book, fourth edition, $49.98 each; The Wrap-Up Guide, third edition, $53 each; Insurance for Defective Construction,  $52 each. To order or obtain more information, contact customer service at International Risk Management Institute, Inc., 12222 Merit Drive, Suite 1450, Dallas, TX  75251, telephone: 800-827-4242, fax: 972-371-5126, or e-mail: info@IRMI.com. You can also visit the IRMI web site at www.IRMI.com.