Tuesday, November 28, 2017


by: Richard Resnick
Property managers & owners have a strata of risk exposures to consider. From emergency situations to structural faults that can lead to physical harm or damage, any of those exposures can be catastrophic.  PM’s need about as much cognizance on safety as a contractor, but the PM's challenge is that their risk is spread over many different exposures. Historically, liability claims from infrastructure issues increases the cost of risk-- from auto damage inflicted by a pothole or even a personal injury from a crack in the sidewalk or parking lot. Any such claim could result in serious loss in business for the owner.  Codes are guidelines for the PM to be aware of these risks such as building access areas like parking lots and walkways.  I have seen enough cases proving that the exterior‘s safety considerations are often less prioritized- which is a huge mistake. 

Richard Resnick is CEO of Risk Management Consultants (NYC) with extensive experience in all construction project related insurance coverages.  www.project-riskconsultants.com

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