Do you know how to avoid exposure to litigation as a builder?
Construction Defect liabilities are TORT losses (ie, civil litigation; negligence; lawyers; time; expense; uncertain outcomes) by definition because of the ambiguous Implied Warranty Laws in Georgia (most states have implied warranty laws; meaning a builder impliedly warrants a home free from construction defects). Many TORT losses can be avoided with the use of good contracts (warranties; subcontractor agreements; consistent sales contracts; coordinated General Liability Insurance). In this session, we will discuss the implied warranty case law; the statute of repose (8 years), and how to avoid potentially devastating TORT losses. This session will review contracts important to a builder, and the key elements of each contract. Participants will walk away with suggested language, and sample agreements.
ISG’s James Leach will facilitate this session. He is an attorney, working in the field of construction defect liabilities for over 15 years. He is a CPCU, CLU, graduate of Duke University and holds an MBA and MI from Georgia State University. He has served as Executive Vice President and Counsel for Insurance Specialty Group (ISG) since 2005. ISG has a strategic relationship with HomeBuyers Warranty Corp. ISG and HBW are members of the Atlanta Homebuilders Association.