Building Institute Council addresses finance, insurance, and real estate.
Press Release Summary:
National Institute of Building Sciences has created Council on Finance, Insurance, and Real Estate to promote cooperative process and open dialogue among banks, insurance companies, and real estate firms. This will promote collaboration and buy-in across these sectors involved in developing high-performance buildings. Architects, engineers, contractors, owners, and insurance representatives, as well as investment, appraisal, and testing and validation representatives will participate.
Original Press Release:
New Institute Council Addresses Finance, Insurance, and Real Estate
A new council established by the National Institute of Building Sciences will help to promote collaboration and buy-in across a number of important sectors engaged in the building process. Banks, insurance companies and real estate firms all play a significant role in how buildings are procured, designed and constructed. The new Council on Finance, Insurance and Real Estate will promote a cooperative process and open dialogue that will be especially important as demands on buildings increase.
"I see the establishment of this new council as especially timely," said Institute President Henry L. Green, Hon. AIA. "With the increasing demand for buildings to move towards achieving high performance, more and more financiers and insurance companies are evaluating how the risks and benefits of building improvements impact the bottom line. The new Council on Finance, Insurance and Real Estate brings everyone to the same table to analyze and answer these important questions."
The Institute, based on its congressionally mandated role to work across the public and private sectors for the advancement of building sciences and policy, is the perfect organization to engage the proper stakeholders and host the necessary dialogue for this new council.
Council participants will include architects, engineers, contractors and owners; insurance representatives, including professional, property, casualty, environmental and surety; banking representatives, including construction and permanent; investment representatives, including real estate investment trusts, pensions and others; appraisal representatives; and testing and validation representatives.
Earlier this year, key representatives from the finance, insurance, real estate, design, construction, ownership and operation sectors convened at the Institute. Participants identified opportunities, including data needs related to the financial implications of high-performance attributes, as well as the importance of educating building occupants, policymakers and the building community on their role in achieving high-performance buildings. At the meeting, the representatives agreed to pursue continued discussions and identify opportunities for further cooperation towards the achievement of cost-effective high-performance buildings. The new Council on Finance, Insurance and Real Estate grew from that discussion.
Industry professionals interested in participating on the Council on Finance, Insurance and Real Estate may contact Ryan Colker, Director, Consultative Council/Presidential Advisor, at rcolker@nibs.org.
About the National Institute of the Building Sciences
The National Institute of Building Sciences, authorized by public law 93-383 in 1974, is a nonprofit, nongovernmental organization that brings together representatives of government, the professions, industry, labor and consumer interests to identify and resolve building process and facility performance problems. The Institute serves as an authoritative source of advice for both the private and public sectors with respect to the use of building science and technology. For more information, please visit www.nibs.org.
