Block gains advantage as insurers recognize the risks of wood frame buildings and new data shows the competitive nature of block construction.
A hardening up of the property and casualty insurance market and new data showing the true economy of concrete masonry construction are boosting block’s advantage against competitive building systems.
That was the takeaway from a webinar – “Resilient Community Risk Reduction, an Economic Approach to Multi-Residential Structures” sponsored Sept. 16, 2021 by the Pennsylvania Concrete Masonry Association (PCMA). The webinar featured a detailed presentation from Walter G. M. Schneider III, Ph.D., P.E., CBO, MCP, CFO, MIFireE, FACSE – The Pennsylvania State University. Schneider, who serves as an adjunct professor in the Architectural Engineering and Agricultural & Biological Engineering Departments, reviewed data from a multi-city comparison of construction system costs that confirms block’s economic competitiveness with other building systems.
Also presenting was Patrick Riley, CPCU, ARM, CRIS, vice president, property and casualty, USI Insurance Services LLC. Riley told attendees that environmental factors are causing insurers to take a harder look at building materials and construction systems when writing policies and setting insurance rates.
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