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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.

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PSMJ Resources Blog: XL Insurance Enters Collaborative.

PSMJ Resources

XL Insurance Enters Collaborative Agreement With PSMJ Resources, Inc. XL Insurance’s Design Professional group, specializing in professional liability insurance for architects and engineers and a part of the global underwriting operations of XL Group (NYSE: XL), and PSMJ, Resources, Inc., PSMJ Resources, Inc.

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Common Law Analysis – Pay-if-paid, Pay-when-paid & Liquidating Agreements in Construction Contracts

Construction Law Monitor

Liberty Mutual Insurance Company (“Sloan”), the US Court of Appeals for the Third Circuit has an in depth discussion regarding some technical yet very important clauses found within many construction contracts between general contractor, subcontractors, owner and the surety. Liquidating Agreement. Sloan pg 17. Lawyer, Oct.

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Indemnification Clause in Construction Contract was Expensive for Contractor

Construction Lawyer

There was an indemnification provision in the contractor/subcontractor agreement that read as follows: A. As this case shows, this can present a significant exposure for such an architect or contractor, even if that party complies with all laws and standards of care. contracts insurance litigation'

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Tax Reform Impact on Employers and Employees

Revit OpEd

On December 15, 2017, Congressional Leaders announced that the conferees appointed by both the House and the Senate reached an agreement to reconcile differences between the House’s version of the Tax Cuts and Jobs Act (the “House Bill”) with the Senate’s version of the Tax Cuts and Jobs Act and unveiled the text of a final bill (the “Tax Bill”).

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Contractor License Bonds: Everything You Need to Know

Levelset

A contractor bond is a three-party agreement. However, surety companies evaluate each state’s requirements individually so rates for similar limits in other states may be different should there be a greater risk present. When the project is completed successfully, the bond expires. What does a contractor license bond cover?

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Recent Downturn in Architecture Firm Billings Accelerates

PSMJ Resources

More firms buying more insurance. Despite the economic downturn, the majority of firms continue of carry some kind of professional liability insurance. Nearly 8 in 10 firms carry firm-wide coverage, with 14% carrying firm-wide insurance plus supplemental coverage for specific projects. Business Presentations.