Levelset

SEPTEMBER 19, 2022

As you dig deeper into your construction insurance policy, you may come across the terms first-party insurance and third-party insurance. Mastering the difference between these two concepts is crucial to understanding how different types of construction insurance protect you.

Insurance 52

Insurance Liability Compensation Claims 52

Levelset

SEPTEMBER 23, 2022

General contractors know these risks when they take the role. Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? Who is covered by an insurance policy? GC insurance & subcontractor coverage. General liability insurance.

Insurance 52

Insurance Liability Accidents Risk 52

Levelset

JUNE 3, 2022

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. Project loss insurance coverage. How project loss insurance works. How much does project loss insurance cost?

Insurance 52

Insurance Cash Flow Claims Contractors 52

Construction Law

DECEMBER 3, 2023

Our insurance expert John D Wright of JD Risk Associates looks at the process of making a claim under an insurance policy, which generate a lot of court attention. There are pitfalls for the unwary, he warns - and for the insurers as well.

Claims 40

Claims Insurance Accounting News 40

Levelset

AUGUST 31, 2022

Whether you’re just starting your business or looking to change insurance carriers, it pays to go with a company that has experience and knowledge in providing insurance for the construction industry. These days you can purchase insurance on your own or go through a local agent. Best construction insurance companies.

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Insurance Liability Compensation Construction 52

Levelset

APRIL 28, 2022

While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. Subcontractor default insurance is one alternative to a surety bond that works to protect a contractor from the financial burden when one of their subcontractors defaults.

Insurance 52

Insurance Contractors Claims ABC 52

Construction Business Owner

OCTOBER 24, 2016

In today’s litigious environment, claims against construction companies are inevitable, and off-the-shelf solutions used to manage liability risks are too often inadequate. Construction defect claims are compounded by the fact that not all are covered by insurance, depending on the carrier and the applicable state statutes.

Claims 120

Claims Liability Insurance Risk 120

Levelset

OCTOBER 14, 2022

Plumbing contractors should include business insurance as an integral part of their financial strategy. With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. What is plumber’s insurance? Worker injury.

Insurance 52

Insurance Liability Injury Compensation 52

Levelset

AUGUST 24, 2022

Construction businesses need many different types of insurance to mitigate the risks associated with building projects. Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. What is builder’s risk insurance?

Liability 52

Liability Risk Insurance Contractors 52

Levelset

SEPTEMBER 6, 2022

An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. While it may sound unusual, adding additional insureds is common and extends benefits both to you as a policyholder – and the party being named on the policy.

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Insurance Liability Construction Contract 52

Levelset

APRIL 8, 2022

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding a homeowner’s insurance policy – and what it covers – can be helpful when deciding to take on a project. Understanding homeowner insurance policies.

Insurance 52

Insurance Claims Agreement Lien 52

Mr Ethics

APRIL 23, 2014

Ethics, There seems to be a growing trend in the construction industry whereby project owners are placing all risk on the design professional or contractor. Owners are assuming less and less risk exposure through contract provisions that assign risk away from them. This isn’t ethical, is it? Regards, Mr. Ethics

Risk 100

Risk Claims Insurance Liability 100

Mr Ethics

APRIL 23, 2014

Ethics, There seems to be a growing trend in the construction industry whereby project owners are placing all risk on the design professional or contractor. Owners are assuming less and less risk exposure through contract provisions that assign risk away from them. This isn’t ethical, is it? Regards, Mr. Ethics

Risk 100

Risk Claims Insurance Liability 100

Mr Ethics

APRIL 23, 2014

Ethics, There seems to be a growing trend in the construction industry whereby project owners are placing all risk on the design professional or contractor. Owners are assuming less and less risk exposure through contract provisions that assign risk away from them. This isn’t ethical, is it? Regards, Mr. Ethics'

Risk 100

Risk Claims Insurance Liability 100

Levelset

OCTOBER 20, 2022

Scenarios like these stress the need for an electrician to have insurance coverage in place. Thus, a strong insurance plan helps you rest easier both on and off the job. Why can an electrical contractor use insurance? Insurance policies can help your business cover the costs of both minor and major incidents.

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Insurance Liability Electrical Accidents 52

Levelset

APRIL 8, 2022

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding a homeowner’s insurance policy – and what it covers – can be helpful when deciding to take on a project. Understanding homeowner insurance policies.

Insurance 52

Insurance Claims Agreement Lien 52

Construction Junkie

JULY 27, 2020

Well, now at least one insurance company believes that, as well. Procore’s platform can help contractors avoid many costly losses and delays through effective risk management and cross-team collaboration,” said Lisa Morgan, President of Construction at Travelers. Announced today, The Travelers Companies, Inc.

ProCore 83

ProCore Travel Insurance North Carolina 83

Levelset

MARCH 21, 2022

Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Construction Marketing

MARCH 2, 2023

Help with negotiations This can be difficult, as insurance companies are often reluctant to pay large settlements. An experienced attorney will know how to negotiate with insurance companies and fight for the best possible settlement for you. These damages can include payments for your pain and suffering.

Injury 253

Injury Site Defense Compensation 253

ENR Construction

SEPTEMBER 13, 2022

Did the contractor's master policy cover the damage?

Insurance 55

Insurance Claims Risk Contractors 55

Levelset

OCTOBER 13, 2022

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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Insurance Certification Contractors Liability 52

Levelset

SEPTEMBER 20, 2022

HVAC contractor insurance is the primary way to help protect your financial interest if things go wrong on the job. This contractor’s insurance solution is typically the most cost-effective means to secure coverage and give you peace of mind. What is HVAC contractor insurance? Who needs HVAC insurance?

Insurance 52

Insurance Contractors Liability Accidents 52

Green Building Law Update

FEBRUARY 12, 2014

Insurance companies cannot recover environmental cleanup costs paid to their insured under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund, from another Potentially Responsible Party ( unless their insured had first pursued a separate claim to recover the cleanup costs from that PRP).

Insurance 120

Insurance Liability Legal Claims 120

Construction Law

MARCH 1, 2024

News Our regular news round up includes a call from insurance companies for pilot projects to find investment models for green infrastructure; failure of another legal challenge to the Stonehenge project; and a warning that the new Building Safety Regulator is looking for a high profile prosecution to make a point.

Insurance 40

Insurance Claims Safety Legal 40

ENR Construction

JUNE 12, 2019

A judge has cleared the way for PCL to collect a long-disputed builders risk claim from a Canadian insurer related to damage on a bridge construction project in Victoria, British Columbia, that occurred four years ago.

Claims 28

Claims Risk Insurance Construction 28

Levelset

SEPTEMBER 8, 2022

When it comes to protecting your contracting business from claims and lawsuits, it can be tough to know what type of insurance you should purchase. Liability insurance protects your business against claims for damages caused by you and your workers, if you have any. General liability insurance.

Liability 52

Liability Insurance Claims Legal 52

Construction Law

DECEMBER 5, 2023

News Our regular news round up of construction law and procurement stories reports on two highly critical reports of government spending plans for schools and hospitals; and record fines being levied on a landlord and property management company for fire risks. The programme, called CRUX, is based on expert diagnosis of claims and disputes.

Construction 52

Construction Insurance Claims Procurement 52

Construction Specifier

OCTOBER 9, 2023

In 2018 (latest data available), insurance companies paid nearly $1 billion in lightning-related claims to some 78,000 policy holders, according to the Lightning Protection Institute (LPI). In addition, approximately 3 to 5 percent of all commercial insurance claims involve lightning, which is a reliably preventable issue.

Insurance 62

Insurance Claims Commercial Electrical 62

ENR Construction

JUNE 15, 2023

An insurer claims manager told a risk conference audience four years ago that “in case you’ve been on another planet, there have been hundreds of design-build lawsuits.”

Design 41

Design Insurance Conference Claims 41

Viewpoint Construction Technology

JUNE 3, 2019

Conflicts and other project risks can delay work and negatively impact bottom lines. The suite of problems which may arise may include contractual errors, technical issues, contract breaches, delayed payment, insurance and damage claims and obviously, non-compliance with legal requirements. This may work for them.

Risk 130

Risk Software Software Construction 130

Best Practices Construction Law

FEBRUARY 21, 2018

Reading and understanding an insurance policy on a construction project can be a lot like understanding my kids playing Speak Out. Proper insurance coverage is an important risk management tool for contractors, subcontractors, project owners/developers and design professionals. Nautilus Insurance Co. ,

Insurance 54

Insurance Subcontracting Injury Construction 54

NH Construction Law

NOVEMBER 30, 2020

Because venue provisions can be waived, courts allow Miller Act claims to be litigated in a different court selected by the parties’ contract. ” This language can certainly be read as evidence of congressional intent that Miller Act claims not be arbitrable. Industrial Lumber Co. , Enterprises, Inc. , 3d 35, 36 (1st Cir.

Claims 40

Claims Subcontracting United States Contract 40

NH Construction Law

AUGUST 31, 2023

Subrogation – the right of an insurer, upon paying an injured party’s damages arising out of a negligence claim, to chase the negligent party for reimbursement – is a staple of the law. And the insurer will have no say in the matter. Notice that this clause expressly addresses only property insurance.

Insurance 40

Insurance Liability Claims AIA 40

Wolgast Corporation

JULY 6, 2022

Members include architects, risk managers, parking specialists, lawyers, and perimeter safety professionals. The emergency response report is also useful in your insurance claim for timing and dates. The Storefront Safety Council is a group of volunteers that are “passionate about ending vehicle-into-building crashes.”

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Insurance Claims Safety Michigan 107

Construction Law

DECEMBER 2, 2022

The next thing you might be contacting your lawyer about could be your potentially over-inflated sustainability claims. Virtue signalling by ‘greenwashing’ could end up being more expensive than taking the measures you have wrongly claimed to. Those projects failing to meet these criteria may struggle to access financing.

Claims 52

Claims Risk Infrastructure Finance 52

Levelset

SEPTEMBER 16, 2022

If a contractor’s work fails after a project is complete, completed operations insurance can help cover some of the expenses. It is sold as an extension to your general liability insurance policy and may be required by the state you work in or the project owner. Learn more: The most common types of insurance policies in construction.

Insurance 52

Insurance Liability Claims Contractors 52

Best Practices Construction Law

JULY 29, 2015

There are multiple types of insurance coverage for the various risks on a construction project. However, when there are multiple insurance carriers covering the same risk (i.e., However, when there are multiple insurance carriers covering the same risk (i.e., In a recent case, Cincinnati Insurance Co.

Insurance 48

Insurance Liability Claims Electrical 48