AWCI Moves Forward With Plan To Help EIFS Contactors Obtain Insurance

AWCI President Patrick Boyd, Vice President Ken Navratil and Executive Vice President Steve Etkin met with six manufacturers of exterior insulation and finish systems on December 10, 2002, to review AWCI’s preliminary feasibility study regarding providing a captive insurance company that would provide general liability insurance coverage to contracting companies that include EIFS work. The meeting also served to gauge the manufacturers’ interest in providing the capital for the captive insurance company.

Representatives from Dryvit, Sto, Parex, Senergy, TEIFS and Bonsal were in attendance, and they were unanimously supportive of AWCI’s efforts and agreed to consider contributing the necessary capital.

Letters were mailed to 19 EIFS manufacturers (including the six who attended the meeting) asking them to respond indicating their willingness to provide capital and how much. The requested response date was January 6, 2003; however, this issue of the newsletter went to press before the January 6 deadline, so we will update you in the February issue of the newsletter. Prior to the deadline, representatives at TEIFS indicated they would consider a $250,000 contribution.

Courtesy of EIFS Alliance