We probably all agree that most of the untold story by the media is that most of the high density projects lost in 2018 were probably not an accident but intentionally lit arson fires.
It’s In The Books, Avalon Bay (AVB) wins The Gary E. Bird Horizon Award. The prestigious award, sponsored by Travelers, is presented annually by the International Risk Management Institute, Inc. (IRMI), in recognition for a demonstrated commitment to improving construction risk management through the implementation of innovative, cost-effective, and efficient risk management techniques.
“Inside 2018 IRMI Fire Award”
AVB accepted the IRMI award on behalf of the Company’s innovative loss prevention program designed to eliminate construction site fires on wood frame multifamily projects. view article
Without the industries newest, safest, cleanest, and most cost-effective fire chemistry Mighty Fire Breaker™, there may not have been an award like this at IRMI. Mighty Fire Breaker™ stalls and eliminates the advance of fire on more than just the traditional fire walls, it defends all the raw interior lumber that up until now was never fire defended. The AVB senior construction and safety team guys really showed up and we dutifully honor them for recognizing an opportunity to set a higher standard. The whole AVB team really showed up in the due diligence and has since set a higher standard for the building industry by proactively making it safer from the type of fire loss they experienced first hand. They truly deserved this great award as they now make every job safer for their workers and all stakeholders.
M-Fire will be using AVB as the Model Builder of the Future when we meet LEED in DC to raise the bar on defended carbon storage. Hopefully, as we gain USGB LEED support, we can attempt to amend the 45Q Carbon Tax Credit to included fire defended wood framed buildings. view article
As part of the recent budget bill, Congress passed legislation to expand and reform a key tax credit called 45Q for deployment of carbon capture and storage projects in the United States. Up until now the Lumber Industry in the US has not been successful in carbon value. Now that our builders can finally afford to defend one hundred percent of the interior lumber, does amending the carbon tax credit make sense? When Conboy was asked by Congress Huffman, "why does M-Fire carbon tax amendments make sense, when others have tried?" Conboy’s responsed, "If you can’t defend it from fire you can claim it. M-Fire seeks to get tax credit for defending carbon storage in wood framed buildings for our great builders.""
Investor Notice in 2019 Award Winning Best Fire Practice Can Lower Insurance Risk Premiums
Builders risk insurance provides financial protection for building projects while they are under construction or renovation for investors. Coverage includes fire, theft, vandalism, arson attacks and extreme weather.
The cost of builders risk insurance was normally and typically averaged between (1) and (4) percent of the total construction costs. Today it varies based on several factors, including type of project, infill location, and construction type but after all the recent arson attacks on high density wood framed infill, risk premiums could be much higher in 2019 without a real fire elimination plan.
In 2019, It’s Best To Impliment Fire Risk Planning With A Known Fire Elimination Award Winning Expert and bring them in to convince your insurance risk team. Don’t try to represent yourself in the newest Applied Fire Science for wood framed buildings these risk guys are smart and understand science.
To protect all your projects from a high risk arson fire type premium spikes contact a proven fire elimination expert, because in order to lower your risk premium their needs to be a comprehensive technical conversation with your risk assessors.
A good Fire Elimination Consultant today is different than ever before, because they must understand the codes, assemblies and fire chemistry. Without the right Fire Elimination Consultant that understands the newest award winning fire elimination program how can you expect the Insurance Risk Underwriter to recognize less risk to support a lower premium.
A good high density investor should bring a neutral Fire Elimination Expert in early on every project since in most cases they are paying the risk premiums.
For the builders that are moving too fast to miss the fact that there is a New Best Practice Fire Elimination, the investor may need to get involved to defend the investment from replacement loss, delays that shelf their ROI, and high risk premiums that could easily be avoided.
Building any high density wood framed project (in the USA Today), whether stick-framed or mass timber today is risky business that pays more ( for insurance )like bad credit would for money.
Contact Steve, it costs nothing to vet the new Fire Elimination Risk Premium Reduction.