Remove Agreement Remove Consulting Remove Insurance Remove Management
article thumbnail

What is Project Loss Insurance?

Levelset

Project loss insurance has the potential to save contractors from devastating project losses, no matter the cause. Project loss insurance, or PLI, is designed to mitigate catastrophic construction project losses. It also helps contractors manage cash flow during a loss. Project loss insurance coverage.

article thumbnail

Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs. Setting up an AOB.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

PSMJ Resources Blog: XL Insurance Enters Collaborative.

PSMJ Resources

XL Insurance Enters Collaborative Agreement With PSMJ Resources, Inc. to Advance A/Es Risk and Practice Management. This agreement is an unprecedented exchange, which comes at a time of unprecedented change, to further our clients’ efforts to not only protect their firms, but help them thrive. PSMJ Resources, Inc.

article thumbnail

Advise & Consult: Serious, expert legal insights for the construction industry

Construction Marketing Ideas

The Advise & Consult blog pulls together content from 23 experts in 15 states on a diversity of construction law issues. The Advise & Consult blog certainly isn’t light reading — but you wouldn’t want it to be dumbed down simple.

Legal 48
article thumbnail

Setting up a Job Order Contract Using Best Management Practices

Job Order Contracting

Setting up a Job Order Contract Using Best Management Practices involves a mix of strategic and operational steps including a gap analysis of current and planned outcomes. . e) Each signed task order becomes, in effect, a fixed price, lump sum contract and is managed accordingly. Planning and coordination. (a) Procedures.

Contract 100
article thumbnail

Obtaining the Proper Bonding for Government Jobs

Construction Business Owner

MANAGEMENT |. INSURANCE |. General Management. People Management. Equipment Management. In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. Better Project Management through Better Communication. Management.

Cash Flow 168
article thumbnail

Common Types of Construction Contracts And Their Use

cnstrctr

The different types of construction projects include: Lump Sum Construction Management (Cost Plus / Guaranteed Maximum Price) Design Build Design Build Finance Maintain. Under a lump sum contract the consultants are typically engaged by the owner and the contractor falls under a separate contract with the owner.