Building Owners Loss Assistance Program Safeguards Properties and their Owners through Disaster
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Posted On :
Jun-23-2010
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Article Word Count :
467
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South Florida construction consulting company Paul J. Del Vecchio Construction Consultants, Inc. unveils new program for fighting insurance claims
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When Hurricane Wilma ripped through South Florida causing an estimated reported $16.8 billion in damage, building owners thought they had their share covered with property insurance.
For Paul J. Del Vecchio’s client, a condominium owner, this was not the case.
Del Vecchio, principal of Paul J. Del Vecchio Construction Consultants, Inc., provided litigation support as a 3 and a half year battle ensued between his client and the insurance provider. The 20-story building experienced substantial storm damage with shattered floor-to-ceiling windows, a thrashed air conditioning system, an obstructed pool and significant interior ruin resulting in multi-million dollar repairs. Disputed claims made by the insurance company had forced Del Vecchio’s client to finance repair costs until they were resolved in early 2009.
The resulting case led Del Vecchio and his team to design a program founded in protecting property owners when filing insurance claims due to a loss.
Today, the Building Owners Loss Assistance Program (BOLAP) provides consistent documentation of a property to institutional, commercial and multi-family building owners should a fire, flood, hurricane or other associated loss occur. Written reports, video records, and photographs are taken, and each year, changes in the building are noted and stored in a comprehensive archive, made available off-site to building owners and their representing attorneys for a filed claim.
Should a loss occur, Del Vecchio says, “An accurate and indisputable picture of the property prior to a loss is already made available.” He adds, “This expedites the prosecution of an insurance claim, eliminates disputed items and provides an accurate cost to remediate.”
The program’s initial phase includes a condition assessment where property deficiencies and recommendations to “safe-up” the building are made, altogether ensuring that the property is and remains at an optimal state.
Paul J. Del Vecchio has more than 35 years experience in Florida project development and construction services. A Florida certified general contractor since 1979, Del Vecchio has overseen construction operations and further provided infrastructure support to private sector clients as well as local, state and federal governments on featured projects that include mid-rise and high-rise condominiums, parking garages, office buildings, shopping malls, hospitals, and government facilities. He serves as a board member for the Construction Industry Licensing Board and is co-author of The Construction Manual, Millenium Edition and The Florida Contractor’s Manual, 2008 Edition.
Paul J. Del Vecchio Construction Consultants, Inc. provides comprehensive services and technical expertise for development and risk management of construction projects, including project planning, field inspection, litigation support and construction claims analysis. Through concise management and a commitment to solving construction-related issues using a pro-active approach, Paul J. Del Vecchio Construction Consultants, Inc. addresses the unique challenges faced by real estate owners, developers, contractors, attorneys and other professionals within the construction community.
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Article Source :
http://www.articleseen.com/Article_Building Owners Loss Assistance Program Safeguards Properties and their Owners through Disaster_23154.aspx
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Author Resource :
For more information, please visit Paul J. Del Vecchio Construction Consultants, Inc. online.
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Keywords :
Construction claim consultant, construction claims, construction consultants, construction consulting, construction managemen,
Category :
Finance
:
Real Estate
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