Thought leadership: CIS/Construction sponsors Lamberson Low Bidders Invitational
One of the many ways that Zurich is staying close to its construction customers is through thought leadership. That's why it makes so much sense for Zurich to co-sponsor the 2011 Lamberson Low Bidders Invitational.
Low Bidders is a customer-centric “thought leadership” event attended by more than 150 contractors and 50 construction industry suppliers.
Zurich’s construction casualty, property and surety underwriting teams partner with co-sponsors FMI Corporation, a leading provider of management, consulting, investment banking and research to the engineering and construction industry, and GALLINA LLP, a premier West Coast provider of accounting, auditing, tax and financial management consulting solutions to the construction, real estate and related industries.
Senior executives from our national and regional underwriting teams had the pleasure of meeting with select Zurich customers to build on existing relationships. They asked for feedback on the value we bring to our customers and held frank discussions about our success in addressing our customers' needs.
The Invitational’s event schedule began with partner presentations on emerging trends and opportunities for the construction industry. Zurich’s Construction and Surety executives kicked off the seminar by providing observations of the property, casualty and surety markets based on insurance industry results and trend analysis.
GALLINA LLP then provided an overview of tax changes impacting contractors including Section 199 Deduction – manufacturer’s deduction, 3% withholding on government contracts, international taxation and foreign reporting and an update on gift and estate taxes.
The closing presentation by FMI, “Construction Acquisitions in a Downturn”, included a discussion of the current economic, demographic and social climate and how well-run companies who adapt and change their strategies will have significant capital to move into new markets while taking full advantage of highly-qualified personnel.
As the day progressed, golf events allowed participants to interact with peers and friends. This year we changed things up a bit and created the first annual Lamberson Low Bidder Awards to recognize contractors who made significant contributions to the construction industry and their communities. Award recipients were:
- Ron Fedrick, Chairman and CEO, Nova Group
- C. C. Myers, Principal, Myers and Son Construction, LP
- Larry Nibbi, Nibbi Brothers Construction
- Jerry Overaa, CEO, C. Overaa & Company
The awards dinner was followed by a fast-paced auction run by Ritchie Brothers Auctioneers, the world’s largest auctioneer of heavy equipment. The auction raised $140,000 for The Beavers Charitable Trust, a trust established by The Beavers that devotes its proceeds for the exclusive purpose of assisting students entering the heavy construction industry. The trust has grown to $8 million dollars and in 2010 generated $750,000 in scholarship grants and construction professor endowments.
Presentation materials from The Lamberson Low Bidders event: