The construction industry is working diligently to manage supply chain challenges. The following trends were documented in the Corelogic Q4 Quarterly Construction Insights report:
- The cost of lumber has increased by 34%.
- The average annual cost increase for U.S. commercial building materials was 9.6%.
- Contractors reported material shortages of lumber, steel, and electrical products.
- Increasing labor costs across all occupations with roofers leading the charge at almost 6%.
We've assembled a panel of experts from insurance, law, bonding, and in-the-field construction to discuss the challenges the industry is facing due to rising material prices and supply shortages.
Topic of discussion will include:
- What is currently being experienced in the market (including horror stories!)
- New best practices that have developed in response
- Contract language, clauses, and solutions for negotiations
- Should you buy materials now or wait?
- What happens if a project is delayed or falls through?
- Builders risk insurance and stored materials
- How the hard insurance market factors in
Who should attend?
- Contractors and Subcontractors
- Architects and Engineers
- Public Officials
- Anyone working in the Construction space
Our team of panelists:
Moderator: Pat McKenna
Principal & Vice President - Surety at Hausmann-Johnson Insurance
Pat has been with Hausmann-Johnson Insurance since 2007, and oversees the Surety Department and the Construction Industry Group. He has been in the surety industry for over 27 years, including 13 years with a top 3 national surety underwriting company. By breaking down risk factors and demonstrating how they will be handled, he is able to help surety clients maximize individual job size.
President at Sure-Fire
Casey is President and a third-generation family owner of Sure-Fire, Inc., a residential and commercial HVAC mechanical contractor serving the Madison, Milwaukee, and Fox Valley areas since 1947. Casey (re)joined Sure-Fire in 2011 as its Risk Manager. In 2015, he was promoted to Sure-Fire’s Vice President/General Manager and in 2017 took on the President’s role from his father, Tom Malesevich.
Chief Operating Officer at Joe Daniels Construction
Sam Daniels is the COO at Joe Daniels Construction (Daniels General Contractors) and oversees day to day operations. Sam continues 3rd generation family ownership and leadership for the Company which is a multi-trade self-performing General Contractor located in Madison, WI.
Property & Casualty Consultant at Hausmann-Johnson Insurance
Bill joined the Hausmann-Johnson Insurance team in 2019. Hiss passion lies in ensuring people and their businesses are in the best position possible to be successful. He builds strong, lasting relationships with his clients who entrust him with their insurance programs so they can focus on what is most important.
Partner at Husch Blackwell
Years in the trenches as in-house counsel for a major construction firm have given Josh a real-world understanding of the concerns of owners, developers, architects and contractors. Each group recognizes Josh’s advice as authentic − from the onset of planning to the ribbon-cutting ceremony. He is motivated to the core to help his clients navigate the complexities of commercial construction projects.
Senior Claim Counsel at Travelers
John M. Fouhy is a Senior Claim Counsel for Travelers Casualty & Surety Company of America, where he has worked since 2010. He graduated with a B.B.A. from Pacific Lutheran University, and received his J.D. from the University of Oregon School of Law. He is admitted to practice in Washington State.