Insurance is such an important part of any construction project; from building phase through to completion insurance provides a level of comfort in the protection of an asset. In this episode we talk with Marcus Saunders and Jake Concannon from Gallagher a global insurance broker who are creating awareness and education about mass timber through the insurance sector. Gallagher is a full-service insurance broker and risk management advisor working together with businesses of all shapes and sizes. The keys to the approach are, understanding testing and performance of systems, early engagement in the design phase to support understanding of the building process which allows for the calibration of premiums and to mitigate prejudice.
We discuss insurance as a passports for buildings, and look at the recent success that Arthur J. Gallagher insurance has had working with AXA XL and insurance for mass timber in North America. We explore some of the barriers, and how to overcome them, in particular the approach government and regulators take in assessing mass timber, and explore a registration of buildings around the world to assess the risk of the buildings at a global level to make more informed decisions about premiums.
We also discuss the formation of Global 20 (G20) of countries to participate in an international collaboration for insurance and construction as an inter-dependant objective group reviewing the risks in construction and providing authoritative information to insurance providers. Jake talks about his association with Gary Kaplan and the progress on AXA XL insurance project and the release of a market-appropriate insurance product. Marcus explains his passion for timber and timber construction and what drives his passion for he sector.
A very important episode of the mass timber construction podcast, please enjoy the conversation with Marcus and Jake, as they seek to support industry and invite you to work with them in transforming the insurance sector in garnering greater acceptance of mass timber as mainstream.
Production by Deeelicious Beats
Music "Game Play" by Quality Quest
Podcast is a Mass Timber Construction Journal Production