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#91:  Liability Insurance for a Subcontractor's Defective Work

NH Construction Law

“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” But what makes Skanska interesting is that the court took pains to distance itself from an earlier Michigan decision, Hawkeye-Security Ins.

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What Contractors Need to Know About Surety Bonds

Construction Marketing

If the principal’s bond application is approved, the surety company will require the principal to sign an indemnity agreement before it will issue the bond. The indemnity agreement provides that the principal will hold the surety harmless if a claim is filed against the bond. Surety bonds do not protect you against liability.

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What Is an Insurance Endorsement? A Contractor’s Guide

Levelset

At the core, you have property coverage for your tools and equipment, along with a liability component that protects your financial assets in case there’s a work-related accident or injury that you may have some responsibility for. . It’s prudent to look back and realize that potential liability doesn’t end when the project is completed.

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GHG, SHG, SEC Regulations – Facilities Regs and Reporting Changes Coming Soon

Job Order Contracting

The Securities and Exchange Commission (SEC) proposal to require that public companies disclose climate-related information. The proposed rules contain a “safe harbor” for liability for Scope 3 emissions disclosure. Take back agreements. ISO14064 Boundaries. Organizational. Equity share. Operational. Energy indirect emissions.

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Additional Insured Endorsements & How They Work in Construction

Levelset

In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. An additional insured agreement allows a policyholder to extend their business insurance coverage to a specific third party. What is an additional insured?

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What Is an Installation Floater?

Levelset

” You may already have an insurance policy that offers coverage for business property and general liability. Frequently, the terms of a construction contract require that a sub be named as an additional insured on the contractor’s general liability policy. But, therein lies the rub. .

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Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

The difference between secured and unsecured debts. Karalynn also brought up the tendency of the industry to pass liability down the chain when drawing up contracts. For this reason, construction professionals must find better ways to craft and negotiate agreements. We discuss: The current state of construction contracts.