The Atlantic Companies: Renovations Add Risk for Homeowners

NEW YORK, NY, (March 21, 2007)— Homeowners face increased risks when they renovate or expand their houses, noted Dan Olmsted, president and CEO of The Atlantic Companies, which is best known for the Atlantic Master Plan insurance policy.

"Planning and diligence before, during and after construction are the best ways to remedy increased risks of fire, theft, and injury," said Olmsted.

The Atlantic Companies is offering advice in the Spring 2007 issue of its SafetyWise consumer newsletter, which can be found at www.atlanticmutual.com.

Before you start a project, advises the newsletter, take steps to manage risks:

Before Construction
Call your insurance agent for guidance on several issues:

  • If you move out of the house during renovation, you’ll need special coverage.
  • Contractors, subcontractors, and tradesmen must have adequate insurance to cover injuries on the job. Otherwise, you may be held liable.
  • Upgrading alarm, plumbing, or electrical systems may earn discounts on home insurance premium.

During Construction

  • Have debris cleaned up daily, especially rags and solvents, which can spontaneously ignite if stored improperly.
  • Keep alarm systems active.
  • Post emergency numbers prominently and close to telephones.
  • Place portable fire extinguishers in easily accessible spots on every floor.

After Construction

  • Let your agent know the project is complete and discuss proper adjustments to the replacement value of the home.
  • Consider increasing liability coverage if improvements included, for instance, a swimming pool.

Consult the newsletter for details and further tips.

About The Atlantic Companies

The Atlantic Companies, also known as Atlantic Mutual, is a group of diversified financial services companies with a Wall Street heritage dating back to 1842. The group is widely known for the Atlantic Master Plan insurance program, which is designed specifically for affluent individuals and sold through a select group of independent agents. The Atlantic Companies acts as a property-casualty insurer, manages claims for commercial insurance, and helps other business partners target profitable niches in the insurance marketplace. Additional information about The Atlantic Companies and the Atlantic Master Plan can be found at www.atlanticmasterplan.com.


Contact: Peter G. Scott
Corporate Marketing & Communications
973-408-6044