14A — October 12 - 25, 2018 — Insurance/Title — M id A tlantic

Real Estate Journal


I nsurance /T itle

By Kristin Marinelli, KLM Consulting, LLC Mold and Builders Risk


ave a new construc- tion site that has piles and piles of new lum-

the cleaning process, these materials should be removed and replaced.* Meet with your insurance broker to make sure that you have provided for mold pro- tection for your construction project. Kristin Marinelli is CEO of KLM Consulting, LLC in Wilmington, DE.  resources resulting from a seamless transition that offers greater value to the service relationship. “We are proud to have Title Village become a part of the Surety Title family of com- panies,” said Brian Klaus , president, Surety Title Com- pany, LLC. “Princeton and the surrounding region are an important and necessary addition to our footprint. We have found a great partner in Title Village and look forward to welcoming Richard Eland , his staff and the agency’s loyal customers.” 

time schedule management, and when to seek expert advice. • Surface molds and stain fungi present on lumber should be treated with an abrasive cleaning method, such as wire brushing, sand- ing, and media blasting. If lumber with decay fungi are present or the wood looses structural integrity during MARLTON, NJ — Surety Title Company, LLC , a title insurance firm serving resi- dential and commercial clients through New Jersey and Penn- sylvania announced its further expansion through the merger with Lawrenceville, NJ based Title Village Title Agency , effective September 1, 2018. This union brings together two like-minded title agencies and strengthens their commit- ment in providing comprehen- sive, quality title services for residential and commercial clients. Customers will benefit from the companies’ combined

ber? Here’s s o m e t h i n g y o u m i g h t not know -- there is a hid- den risk you m i g h t n o t have planned for in your in- surance cov-

Surety Title Company merges with Title Village Title Agency

Kristin Marinelli

erages - mold. That’s right! Surface mold can grow on the surface of freshly cut wood. Builders Risk Insurance usu- ally excludes or limits damages from mold. A sample Builders Risk Mold Exclusion provides: “The following types of dam- age (including but not limited to Dam- age and Contingent Damage) and resulting Time Element are not insured under any circumstance, regardless of whether caused by or resulting from an Insured Cause or Loss: bacteria, fungi, virus, mold, spores, wet or dry rot.” • Claims for mold and water damage should be kept separate so that when property must be

New project under construction open to mold conditions.

removed due to water damage regardless of subsequent mold growth, it is not excluded by a mold exclusion. Fungi grows in suitable tem- perature, oxygen, and moisture environments. Controlling temperature and oxygen is not possible but controlling mois- ture is. What should you do: • Examine all wood and wood products before they leave the lumberyard. • Building materials deliv- ered to a job site should be

stored appropriately. • Lumber should be stored off the ground and away from moisture sources. • Use tarps or plastic sheet- ing, which allows for air circu- lation Risk management steps should be taken to help prevent possible mold and moisture related problems at a con- struction site. These include, but are not limited to, the se- lection and quality control of materials used, proper storage techniques, moisture control,

Is your EMR (Experience Modification Rate ) keeping you from being competitive?

WE’VE GOT YOU COVERED. Nationwide Coverage. Personal Commitment.

KLM Consulting, LLC offers a Workers Compensation Cost Control System that has historically reduced open reserves by 30% and lowered experience modifiers by 27 points. This will not only help your company compete in the marketplace, but ultimately decrease your insurance premium costs.

Any contractor’s ability to compete in the marketplace shouldn’t hinge on their EMR rate being above 1.000, yet many contracts are awarded based on this requirement. If you find yourself unable to meet this requirement, here’s how we can help.

To discuss further, contact us today for a diagnostic analysis at absolutely no cost to you.



500 Delaware Avenue, # 1075 | Wilmington, Delaware 19899 | 800.520.8135 (Direct) Email: kristi@klmcons.com | Web: www.klmcons.com

Made with FlippingBook - Online magazine maker