View this article online: https://www.claimsjournal.com/news/west/2009/06/05/101118.htm
San Diego-based Forensic Imaging & Archiving (FIA), an assurance firm offering expertise in vertical construction, has created a new Repair & Renovation Division to handle repairs and renovations for projects that have systemic construction defects. The new division is designed to help developers, WRAP insurers and general contractors “take the sting” out of construction defect lawsuits, which are increasingly becoming more frequent in the down economy.
The division has implemented a protocol that will photographically document found conditions, protection practices, repairs, and left conditions to protect all parties involved. It will be involved from inception to completion of the project to provide an independent third-party account of the events taking place. The company said the independent account will provide leverage and goodwill in the case of defect litigation.
“Now that the real estate boom has gone bust, many new home and condo owners are finding themselves with drastically reduced property values and are looking for ways to recover,” said Marlon Akins, sales vice president of FIA. “Construction defect lawsuits have risen steadily since the 1980s, however the current economic conditions could foster a record jump. This economy has already sapped property values and diminished retirement savings at a pace faster than most individuals can offset with current earnings.”
“As a developer, I realize that now is the time to be proactive, because the question is not if there will be a lawsuit, but when,” said FIA President David A. Blackburn. “Our new division will protect developers, insurers and contractors from many types of damages.”