For this week’s Coffee Break, we have a special presentation
Understanding Owner Carried Insurance Policies for Cottage Cluster Developments
1 AIA LU Available
As the real estate market changes in the Northwest, developers and builders are constantly chasing new product types to maintain sales volume. In Oregon particularly, a new zoning change has opened the option to build “cottage clusters” as a for-sale product. Oftentimes a wrap/OCIP/CCIP policy is pitched as the solution to protect everyone involved with a condo or for sale project. But does a wrap actually do what they promise? And do architects even get coverage through them? This presentation will help you understand how these policies work in practice and what kind of coverage they can provide.
Learning Objectives:
Understand how the insurance market covers owners, contractors, architects, and engineers through various insurance products.
How the zoning of cottage clusters creates a concerning coverage gap in the general liability insurance of most general contractors and artisan contractors.
Dive into what are known as wraps/OCIPs/CCIPs to better understand what they cover and what they don’t.
What insurance should an architect carry for themselves on a for-sale project.
If you would like to be added to the calendar invite, please contact Kathy Wendland.
Speaker
Andy Oldenburg
Senior VP, Producer, Alliant Insurance Services
Andy Oldenburg has been an insurance agent in Portland, OR since 2006. Andy came to insurance after completing one year of Law School at Lewis and Clark College in Portland.
The combination of law and insurance knowledge has led Andy to a very risk management focused approach to helping his clients. There is more to being a risk advisor than telling a customer what insurance product to buy.
Andy’s primary focus is in the real estate vertical. From the land development and vertical construction up through insuring the finished building and it’s tenants. A majority of Andy’s time is spent discussing issues around contracts and insurance as it relates to new builds and remodels here in the Northwest. Andy represents some of the largest volume developers and builders of apartments, condos, and single family homes in the region.