David Pacifici of Berkley Construction Professional to Discuss Progressive Design-Build – the Solution for Unbalanced Risk Transfer? at IRMI Construction Risk Conference
Morristown, NJ, October 19, 2021 --(PR.com)-- David Pacifici, a senior vice president at Berkley Construction Professional, a Berkley Company, will answer the question, is “Progressive Design-Build–the Solution to Unbalanced Risk Transfer?” at the IRMI Construction Risk Conference to be held at the Hilton San Diego Bayfront in California. Scheduled for Tuesday, November 9th at 8:30 a.m. PST, the SNAP Talk session will highlight the benefits of using the Progressive Design-Build method to reduce the uncertainty and financial losses contractors commonly face.
“The use of fast-track scheduling combined with a fixed price on many public infrastructure projects utilizing the Design-Build project delivery method has led to an increase in large losses, creating an unsustainable long-term situation for contractors,” says Pacifici. “Using the Progressive Design-Build method may help to resolve these challenges by applying a guaranteed maximum price to the project only after the design has been confirmed during the preconstruction phase.”
According to Pacifici, the owner’s participation is key to the entire model. After clarifying the scope and priorities during the project’s initial phase, the owner and contractor will then be able to reach an agreement that’s meant to decrease the design risks to a manageable level before the construction stage begins. As a result, the reduction of these uncertainties may not only lower the costs for both the design-builder and owner, but also enhance the project’s transparency with an open-book approach.
Pacifici has more than 30 years of experience as an underwriter and licensed broker specializing in Construction and Design Professional Liability Insurance. For the past 20 plus years, his focus has been on providing professional liability insurance to real estate developers, construction contractors and design professionals. He specializes in insurance solutions for large infrastructure and vertical projects.
About Berkley Construction Professional
Berkley Construction Professional specializes in construction professional liability and pollution insurance for construction-related industry exposures. Berkley Construction Professional is a division of Berkley Alliance Managers which is a member company of Berkley, whose rated insurance company members are assigned A+ (Superior) ratings by A.M. Best Company and A+ (Strong) ratings by S&P. For more information, please visit berkleycp.com.
“The use of fast-track scheduling combined with a fixed price on many public infrastructure projects utilizing the Design-Build project delivery method has led to an increase in large losses, creating an unsustainable long-term situation for contractors,” says Pacifici. “Using the Progressive Design-Build method may help to resolve these challenges by applying a guaranteed maximum price to the project only after the design has been confirmed during the preconstruction phase.”
According to Pacifici, the owner’s participation is key to the entire model. After clarifying the scope and priorities during the project’s initial phase, the owner and contractor will then be able to reach an agreement that’s meant to decrease the design risks to a manageable level before the construction stage begins. As a result, the reduction of these uncertainties may not only lower the costs for both the design-builder and owner, but also enhance the project’s transparency with an open-book approach.
Pacifici has more than 30 years of experience as an underwriter and licensed broker specializing in Construction and Design Professional Liability Insurance. For the past 20 plus years, his focus has been on providing professional liability insurance to real estate developers, construction contractors and design professionals. He specializes in insurance solutions for large infrastructure and vertical projects.
About Berkley Construction Professional
Berkley Construction Professional specializes in construction professional liability and pollution insurance for construction-related industry exposures. Berkley Construction Professional is a division of Berkley Alliance Managers which is a member company of Berkley, whose rated insurance company members are assigned A+ (Superior) ratings by A.M. Best Company and A+ (Strong) ratings by S&P. For more information, please visit berkleycp.com.
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732-541-2971
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