News

Raleigh, NC (November 25, 2024) – Builders Mutual, a leading writer of commercial insurance for the construction industry, has announced that Jodi Vedelli has been named Vice President of Strategy, the newest addition to the company’s Executive Team.

Vedelli has been a part of the Builders Mutual team for more than 17 years, having operated in nearly every area of the company, playing a critical role in its growth and success.

In her most recent role as AVP of Strategy, she has been instrumental in leading corporate strategic efforts, guiding the company’s leadership team in defining key differentiators, and helping to create actionable outcomes that drive business results.

“This is an exciting addition to Builders Mutual’s Executive Team, and I am thrilled for Jodi, who has been a champion of our brand, our culture, and our competitive differentiation for nearly two decades,” said Builders Mutual CEO Mike Gerber. “Her leadership has been critical in ensuring our vision and goals align with our long-term growth objectives, and as we continue to build for the future, Jodi will play a pivotal role in establishing and guiding our strategic direction.” Learn more about Builders Mutual at buildersmutual.com.

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 7,000 sales agents and employs more than 450 staff at its Raleigh headquarters.

Raleigh, NC (October 21, 2024) – Builders Mutual, a leading writer of commercial insurance for the construction industry, held their 5th annual Guardrail Safety Week from October 14-18. The company joined forces with the National Association of Homebuilders, Safety Maker, and the Job-Site Safety Institute to promote the initiative.

On average, more than 140 people visit a residential job-site during a building project. That includes construction workers, as well as homeowners, real estate agents, and children. Proper guardrail installation takes just a few minutes but can be the difference between life or death.

This year’s campaign highlighted videos, blog articles, and training resources that focus on the importance of guardrail safety. All these materials are available at www.buildersmutual.com/pygu. Builders Mutual also offers these critical safety materials in Spanish through their Sube La Guardia initiative, which you can find at https://www.buildersmutual.com/espanol/pygu.

Throughout Guardrail Safety Week, Builders Mutual Risk Management staff were on job-sites across the company’s footprint speaking with contractors about the importance of guardrail safety on the job-site.

Additionally, Builders Mutual recognized 18 companies as leaders in guardrail safety. Each company goes above and beyond throughout the year, from proper supervision and leadership to employee education before workers step foot on a job-site, these companies are all industry leaders in promoting the importance of guardrails.

• Above All Roofing (TN)
• Atlantic Refinishing & Restoration (MD)
• Carolina Commercial Contractors (NC)
• Copper Builders (NC)
• DOW Construction (VA)
• Ducks Roofing Co (VA)
• Gabriel Builders (SC)
• Gordon Contractors (MD)
• John E. Nicely, Jr. Construction (TN)
• Kenpat (FL)
• MH Masonry (VA)
• North South Construction (VA)
• Ryse Construction (NC)
• Thomas May Construction (FL)
• True Homes (NC)
• Tongue & Groove (NC)
• Tony Watson Electric (MS)
• United Homes Group (SC)

“We are committed to ensuring that everyone in the construction industry knows how important it is to ‘Put Your Guard Up’,” said Builders Mutual CEO Mike Gerber. “Proper guardrail installation, use, and safety is of the utmost importance to us and we are proud to shine a spotlight on this issue during Guardrail Safety Week. Guardrails are a proven way to prevent injuries and save lives, and they should always be top of mind on any job-site.”

Learn more about Builders Mutual at buildersmutual.com.

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 7,000 sales agents and employs more than 450 staff at its Raleigh headquarters.

RALEIGH, N.C. (July 11, 2024) – Builders Mutual, a leader in providing insurance coverage to the construction industry, is proud to announce it has been named to the prestigious Ward's 50 group of top performing companies for the sixth consecutive year. The recognition focuses on Builders Mutual’s outstanding financial results in the areas of safety, consistency, and performance over a five-year period (2019-2023).

This annual designation from the industry-leading organization, Ward Group, identifies companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results. To be awarded this designation, insurance companies must pass thresholds of performance and excellence. 

“We are delighted to be recognized once again by Ward Group in Ward’s 50 for the sixth consecutive year,” said Mike Gerber, President and CEO of Builders Mutual. “We know the esteem that comes with this designation and are proud of the work of our staff day in and day out to excel in safety, consistency, and performance in support of our policyholders, our agents, and the entire construction industry.”

Ward Group is the trusted leader of benchmarking and best practices services for the insurance industry. For over 30 years, the firm has analyzed the financial performance of nearly 3,000 property-casualty insurance companies, identifying the top performers per segment. Each Ward’s 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed.

Learn more about Builders Mutual at buildersmutual.com

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 7,000 sales agents and employs more than 450 staff at its Raleigh headquarters.

INDIANAPOLIS (June 24, 2024) – The National Association of Mutual Insurance Companies today presented its annual Award in Innovation, sponsored by Guy Carpenter, to Builders Mutual, headquartered in Raleigh, North Carolina. With the creation of the Job-Site Safety Institute, the company has taken successful steps forward in its mission to eliminate construction injuries and deaths.

“At Builders Mutual, we work each and every day to protect and advance the unique needs of the contractor community,” said Mike Gerber, CEO of Builders Mutual. “For ten years, the Job-Site Safety Institute has funded significant research and educational tools and resources that will play a critical role in the reduction of job-site injuries and fatalities. We are honored to receive this award from NAMIC and will continue to push for innovation in the industry to improve safety for anyone who steps foot on a jobsite.”

In Builders Mutual’s 40-year history, not a single year has gone by without at least one job-related death or one permanent injury claim. Knowing many of these fatalities and injuries could have been prevented with additional education and practical training, led to a greater passion for job-site safety, and a dream to bring job-site safety to the forefront of all job-site employers and workers regardless of location.

In presenting the overall award to Builders Mutual during NAMIC’s 2024 Management Conference, Neil Alldredge, NAMIC president and CEO, said, “Builders Mutual’s efforts to educate and train construction workers and employers show the company is deeply committed to what all NAMIC members value – improving the safety of policyholders.

“The Job-Site Safety Institute is the hallmark of innovation at Builders Mutual and demonstrates the difference it can make when insurers embrace and implement innovative processes, technologies, and critical thinking. Through its online education and research programs, the company reaches tens of thousands of construction workers every year to promote jobsite safety. I’m grateful for Builders Mutual’s continued ingenuity and commitment to education.”

Award in Innovation Judging Criteria

• Impact in perpetuating mutuality
• Creativity of idea
• Numbers and/or dollar impact – relative to size of insurer, i.e., biggest and best are not an influence
• Potential for the idea to be adapted and used by other NAMIC members
• Alignment with the NAMIC Management Conference focus areas: strategy, innovation, leadership, industry trends, and the economy

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About NAMIC: NAMIC membership reflects many of the country’s largest national insurers as well as regional and local mutual insurance companies on main streets across America. NAMIC members write $391 billion in annual premiums and account for 68 percent of homeowners, 56 percent of the automobile, and 31 percent of the business insurance markets.

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 7,000 sales agents and employs more than 450 staff at its Raleigh headquarters. Learn more at buildersmutual.com.

About JSI: Founded by Builders Mutual, the Job-Site Safety Institute (JSI) is a nonprofit 501(c)(3) organization. This research and educational organization is dedicated to eliminating all job-site related injuries and deaths in the construction industry. Research by JSI will play a critical role in improving on-the-job safety and saving lives. Learn more at jssafety.org.

RALEIGH, N.C. (May 7, 2024) – Builders Mutual is pleased to announce that our Financial Strength Rating of A (Excellent) was once again reaffirmed by AM Best Company, the world-wide leading source for information on the financial condition and operating performance of insurance companies, on May 3, 2024. This marks the 25th consecutive time Builders Mutual has earned this rating.

In AM Best’s Rating Rationale Summary, Builders Mutual’s balance sheet was categorized as “Strongest”, supported by its risk-adjusted capitalization, conservative reserving practices, consistent leverage metrics and favorable liquidity.

“We are proud to once again receive this important designation from AM Best,” said Mike Gerber, President and Chief Executive Officer of Builders Mutual. "Builders Mutual being rated as an “A” company remains important to us, as it reflects the strength of our company and reinforces our ability to support our policyholders and agents.”

You can learn more about Builders Mutual here.

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 7,000 sales agents and employs more than 450 staff at its Raleigh headquarters.

RALEIGH, N.C. (February 27, 2024) – Builders Mutual is distributing a $3.3 million dividend to eligible policyholders in Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and Washington, D.C.

For 40 years, Builders Mutual has returned dividends to eligible policyholders that put safety first by implementing safety and risk management programs that protect their workers. This year, Builders Mutual is proud to return a dividend to nearly 13,200 eligible Workers’ Compensation policyholders. Returning a dividend to policyholders recognizes their focus on safety in the workplace and the positive results of our company.

“Every day, we work to protect and advance the unique needs of the contractor community. Our dividend distribution is one way Builders Mutual can reward policyholders who make safety a priority,” said Mike Gerber, President/CEO of Builders Mutual. “Ensuring safety remains top of mind in a construction industry that continues to thrive, along with our company’s financial strength, makes distributing this dividend possible.”

You can learn more about Builders Mutual here.

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About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 5,000 sales agents and employs nearly 450 staff throughout our footprint.

Each year, Builders Mutual recognizes our Champions Club and Builders Reserve agencies for the profitable partnerships they maintain with our company. As agencies look to grow their book of business, these programs are one way we can reward that success.

A special congratulations goes out to our 2024 Builders Reserve members, our 'best of the best.' Being recognized in this elite group is an exciting accomplishment. 

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MARSH & MCLENNAN AGENCY, MD
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MCGRIFF, NC
MORGAN MARROW COMPANY, VA
NFP PROPERTY & CASUALTY SERVICES INC, NC
NOVATAE RISK GROUP LLC, VA
RELATION INSURANCE SERVICES, NC
SIA GROUP INC, NC
SOUTHEASTERN AGENCY GROUP, INC, NC
STANBERRY INSURANCE AGENCY, NC
TOWNE INSURANCE AGENCY, LLC, NC
TOWNE INSURANCE AGENCY, LLC, VA
USI INSURANCE SERVICES LLC, NC
WATSON & WATSON INSURANCE, MD

December 21, 2023 – Builders Mutual Insurance Company (“Builders Mutual” or “We”) discovered an incident that may have impacted the privacy of information related to certain clients, claimants and current or former employees. As we continue to investigate and work toward notifying impacted individuals directly, we are providing information about the event, our response, and steps potentially impacted individuals can take to better protect against the possible misuse of their information should they feel it is appropriate to do so.

What Happened? On December 14, 2022, Builders Mutual discovered suspicious activity on certain computer systems. We immediately launched an investigation with the assistance of third-party specialists. Our investigation determined there was unauthorized access to our network beginning on December 14, 2022, and certain files were copied on December 15, 2022. We undertook a comprehensive review of the files to determine whether these files contained any sensitive information. This review was completed on August 1, 2023, but only a small percentage of potentially impacted individuals had addresses listed in the relevant files. As such, Builders Mutual began a multi-pronged approach to attempt to identify address information for the remaining potentially affected individuals.

On September 12, 2023, Builders Mutual began the notification process by engaging an additional third-party notice vendor specialized in communications and credit monitoring services for the individuals who were owed notice and Builders Mutual had an address. On September 29, 2023, Builders Mutual began providing written notification to the potentially impacted individuals, however, ultimately Builders Mutual was unable to determine address information for every affected individual.

What Information was Affected? The type of potentially impacted information differs from person to person but includes name and one or more of date of birth, Social Security number, financial account information, with access code, driver’s license number, state or federal-issued identification number, employee identification number, workers’ compensation information, full-access credentials, medical information, and health insurance information.

How Will Individuals Know If They Are Affected By This Incident? Builders Mutual mailed notice letters to individuals whose protected information was contained in the data at issue and for whom they have a valid mailing address. Individuals who have not received a notice letter but believe their information may be at risk may call the dedicated assistance line we established at 844-264-3728 toll-free Monday through Friday from 8 AM – 10 PM Central, or Saturday and Sunday from 10 AM – 7 PM Central (excluding major U.S. Holidays).

What We are Doing. We take this event and the security of your information very seriously. Upon learning of this event, we immediately took steps to secure our network and we are working to implement additional administrative and technical safeguards to further secure the information in our care. Notice was also provided to federal law enforcement and applicable state regulatory agencies.

What Affected Individuals Can Do. Potentially affected individuals are encouraged to remain vigilant against incidents of identity theft by reviewing their account statements and explanation of benefits for unusual activity. Additional information can be found below in the Steps You Can Take to Help Protect Your Information below and in the notification letters that will be sent to affected individuals.

For More Information. We understand you may have questions not addressed in this notice. To ensure your questions are answered in a timely manner, please call the dedicated assistance line we established at 844-264-3728 toll-free Monday through Friday from 8 AM – 10 PM Central, or Saturday and Sunday from 10 AM – 7 PM Central (excluding major U.S. Holidays).

Steps You Can Take to Help Protect Your Information

Monitor your credit reports for suspicious or unauthorized activity. Under U.S. law, a consumer is entitled to one free credit report annually from each of the three major credit reporting bureaus, Equifax, Experian, and TransUnion. To order your free credit report, visit www.annualcreditreport.com or call, toll-free, 1-877-322-8228. You may also directly contact the three major credit reporting bureaus listed below to request a free copy of your credit report.

Place a fraud alert on your credit file. Consumers have the right to place an initial or extended “fraud alert” on a credit file at no cost. An initial fraud alert is a one-year alert that is placed on a consumer’s credit file. Upon seeing a fraud alert display on a consumer’s credit file, a business is required to take steps to verify the consumer’s identity before extending new credit. If you are a victim of identity theft, you are entitled to an extended fraud alert, which is a fraud alert lasting seven years. Should you wish to place a fraud alert, please contact any one of the three major credit reporting bureaus listed below.

Place a security freeze on your credit file. As an alternative to a fraud alert, consumers have the right to place a “credit freeze” on a credit report, which will prohibit a credit bureau from releasing information in the credit report without the consumer’s express authorization. The credit freeze is designed to prevent credit, loans, and services from being approved in your name without your consent. However, you should be aware that using a credit freeze to take control over who gets access to the personal and financial information in your credit report may delay, interfere with, or prohibit the timely approval of any subsequent request or application you make regarding a new loan, credit, mortgage, or any other account involving the extension of credit. Pursuant to federal law, you cannot be charged to place or lift a credit freeze on your credit report. To request a security freeze, you will need to provide the following information:

1. Full name (including middle initial as well as Jr., Sr., II, III, etc.);
2. Social Security number;
3. Date of birth;
4. Addresses for the prior two to five years;
5. Proof of current address, such as a current utility bill or telephone bill;
6. A legible photocopy of a government-issued identification card (state driver’s license or ID card, military identification, etc.); and
7. A copy of either the police report, investigative report, or complaint to a law enforcement agency concerning identity theft if you are a victim of identity theft.

Should you wish to place a fraud alert or credit freeze, please contact the three major credit reporting bureaus listed below:

Equifax
https://www.equifax.com/personal/credit-report-services/
1-888-298-0045
Equifax Fraud Alert, P.O. Box 105069 Atlanta, GA 30348-5069
Equifax Credit Freeze, P.O. Box 105788 Atlanta, GA 30348-5788

Experian
https://www.experian.com/help/
1-888-397-3742
Experian Fraud Alert, P.O. Box 9554, Allen, TX 75013
Experian Credit Freeze, P.O. Box 9554, Allen, TX 75013

TransUnion
https://www.transunion.com/credit-help
1-800-916-8800
TransUnion Fraud Alert, P.O. Box 2000, Chester, PA 19016
TransUnion Credit Freeze, P.O. Box 160, Woodlyn, PA 19094

Additional Information

You may further educate yourself regarding identity theft, fraud alerts, credit freezes, and the steps you can take to protect your personal information by contacting the consumer reporting bureaus, the Federal Trade Commission, or your state Attorney General. The Federal Trade Commission may be reached at: 600 Pennsylvania Avenue NW, Washington, DC 20580; www.identitytheft.gov; 1-877-ID-THEFT (1-877-438-4338); and TTY: 1-866-653-4261. The Federal Trade Commission also encourages those who discover that their information has been misused to file a complaint with them. You can obtain further information on how to file such a complaint by way of the contact information listed above. You have the right to file a police report if you ever experience identity theft or fraud. Please note that in order to file a report with law enforcement for identity theft, you will likely need to provide some proof that you have been a victim. Instances of known or suspected identity theft should also be reported to law enforcement and your state Attorney General. This notice has not been delayed by law enforcement.

RALEIGH, N.C. (December 12, 2023) – Builders Mutual is proud to announce several changes to our Board of Directors.

At the most recent meeting of the Board in early December, it was announced that current Board Chair Rick Judson will retire following two decades as a member of the board. Longtime Board member and former Vice Chair, Dave Stormont, was announced as the new Chair. The Board also added new member Jennifer Taylor.

Judson served as Board Chair since 2006, having managed through the housing boom, economic downturn, and helped capitalize on the housing rebound as Builders Mutual expanded into new states and grew from $145M in premium to more than $500M. He also served as NAHB Chair during this time, spending extensive time traveling the country advocating for affordable housing and builder members.

“We have been incredibly fortunate to have a Board Chair as engaged and enthusiastic as Rick Judson,” said Mike Gerber, CEO of Builders Mutual. “As a developer and builder with broad connections in the industry, Rick has led us through dramatic growth and countless changes and challenges in the industry, all while navigating with a steady hand. I want to thank Rick for all he has given Builders Mutual over the years.”

With Judson leaving the Board, Dave Stormont will now take over as Chair. Stormont is the retired owner of Storm Coast Homes, a custom home builder in Kitty Hawk, NC. He has been a member of the Board since 2004.

“I am proud to be named as Chairman of the Board for Builders Mutual,” said Stormont. “I’ve spent years working alongside Rick and know his are big shoes to fill. However, given the strong position he’s left us in, I am incredibly confident that moving forward we can continue to achieve new heights and push forward into the future. Builders Mutual is blessed to have such an awesome and capable Board of Directors who truly understand the construction industry and the needs of all of us who depend on a strong insurance partner.”

In addition to adding a new Board Chair, the group also added Jennifer Taylor to the Board, marking the first woman to serve on the Builders Mutual Board of Directors. Jennifer spent more than three decades as an insurance agent, including owning Senn Dunn Insurance in Raleigh.

“First and foremost, Jennifer is an unquestionable home run addition to our Board. Her decades of agency experience will be invaluable leading us into the future,” said Gerber. “As a company that is committed to inclusivity, we know how important it is to have different voices contributing to all discussions. Jennifer’s joining our Board marks a major step forward for us in that regard.”

Finally, the Board also announced that former Board Secretary Erik Anderson will serve as Vice Chair and Mark Martin, a Board member since 2019, will take over as Secretary.

For full details on our Board of Directors and to learn more about Builders Mutual, visit buildersmutual.com/about-us.

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 5,000 sales agents and employs nearly 450 staff throughout our footprint.

RALEIGH, N.C. (September 14, 2023)– Builders Mutual is pleased to announce that Keith Goad has been appointed as the company’s Chief Financial Officer.

“I’ve long admired Builders Mutual for being leaders in their field and I’m excited to join the team,” said Goad. “I’m looking forward to being a part of a company with such strong relationships and deep expertise supporting the construction industry.”

Goad brings three decades of experience to his role at Builders Mutual. He began his career with Fifth Third Bank and eventually moved to a financial analysis role with Columbia Energy Group. He then broke into the insurance industry in 2005 and spent more than a decade at Nationwide, where he worked as a business unit CFO and in corporate strategy.

In 2016, Goad became the Chief Financial Officer of Central Insurance Companies, which saw dramatic financial growth under his leadership.

“We are absolutely elated to bring Keith on board as our Chief Financial Officer,” said Mike Gerber, President and CEO of Builders Mutual. “With an impressive background in finance and a proven track record of strategic leadership, I am confident that Keith will play a pivotal role in shaping the financial future of our company.”

As CFO, Goad will oversee all financial, accounting, actuarial, and analytics operations at Builders Mutual.

About Builders Mutual: Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 29,000 policyholders through more than 5,000 sales agents and employs nearly 450 staff throughout our footprint.