Homebuilders in California, who became frequent targets of construction defect lawsuits a decade ago, have seen the litigation pendulum swing back in their favor more recently, an insurance market expert says.
But as these same builders eye construction projects in the Southeast, and even in the Midwest, the past could repeat itself in these new locations, according to Robert Gore, director of insurance operations for Aon Construction Services Group in Irvine, Calif.
“We see our clients moving into these areas–exploring land purchases and joint ventures,” Mr. Gore said, referring to large homebuilders and developers who are opening satellite offices, relocating members of land acquisition staffs and hiring people who previously worked for real estate firms throughout the South, especially.
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