In the wake of Hurricane Milton, developers and contractors in the Tampa Bay area are evaluating damage at project sites, calling insurers and preparing to resume construction work.
In The Real Deal CEO of NSI Insurance Group, Oscar Seikaly said, “Even if damage on project sites is minimal, developers and general contractors have a lot of work to do. Damage at construction sites usually is from water intrusion, which could lead to mold and mildew. Contractors and developers have to document the issue, as well as document that it was fixed and the precautions they will take to avoid the same problem in the future. There’s a lot of mitigation that has to be done even if you have a small water claim. Otherwise, those water issues could cause bigger problems for buyers of those units down the line.”
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