Levelset

SEPTEMBER 12, 2022

” You may already have an insurance policy that offers coverage for business property and general liability. The floater can stand alone or be a limited part of a builder’s risk business policy. Subcontractors face risk from a variety of angles , and some of those exposures can be addressed through a GC’s policy.

Insurance 52

Insurance Liability Risk Materials 52

Levelset

OCTOBER 14, 2022

When you tackle the jobs you’ve secured, it’s also important to plan for the unexpected. A plumbing contractor’s insurance policy covers claims for property damage, but it may also help defend against lawsuits resulting from a work-related incident. The average cost for a workers comp claim in 2019-20 was $41,353.

Insurance 52

Insurance Liability Injury Compensation 52

Job Order Contracting

AUGUST 31, 2021

Traditional contracting methods typically involve the non-owner participants tendering a lump-sum price based on the owner’s proposed allocation of responsibilities and risks. The post Collaborative Construction Solution – Public Sector appeared first on 4BT.

Construction 124

Construction Procurement Liability Contract 124

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. ’” Security Fence Co. The contractor and therefore the contractor’s liability insurer will be off the hook.

Insurance 40

Insurance Liability Claims AIA 40

Construction Marketing

SEPTEMBER 24, 2015

A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Although public liability insurance is not a legal requirement, it should be regarded as essential. Your business plan should also identify potential risks that could result in cash flow problems.

Documentation 120

Documentation Insurance Legal Liability 120

Levelset

SEPTEMBER 6, 2022

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. Among a number of other issues, insurance risk shifting is a concern for carriers. Though not common, large and complex claims do occur.

Insurance 52

Insurance Liability Construction Contract 52

Federal Construction Contracting Blog

JANUARY 16, 2024

Following growing concerns within DoD that contractors were not consistently implementing the cybersecurity requirements of DFARS 252.204-2012, DoD responded with the creation of the CMMC Program in 2019 to move away from a “self-attestation” model of security. These affirmations are entered electronically in SPRS.

Certification 52

Certification Security Contract Defense 52

Construction Marketing

JUNE 20, 2022

If the construction company fails to keep the site safe, they could face liability. Incorrect stacking of materials puts them at risk of toppling over. . Negligence in securing equipment, particularly when it’s dangling from ladders, beams, or other surfaces. Ways To Minimize Risk For Falling Debris Injuries.

Site 156

Site Injury Construction Safety 156

Levelset

OCTOBER 13, 2022

Aside from owners and GCs, a government entity may want to see proof of liability insurance. You may be seeking to work for a local, state, or federal government, and these bodies will want to know that you carry liability insurance before you’re awarded — or even considered — for a bid. What information is included in a COI?

Insurance 52

Insurance Certification Contractors Liability 52

Levelset

OCTOBER 20, 2022

You pay pennies on the dollar for coverage that could range into the millions for general liability (GL) insurance, for example. General liability insurance : A GL policy may help cover the cost of bodily injury or property damage that occurs on a jobsite. General liability may help pay for the cost of repair. .

Insurance 52

Insurance Liability Electrical Accidents 52

Levelset

SEPTEMBER 20, 2022

This contractor’s insurance solution is typically the most cost-effective means to secure coverage and give you peace of mind. Liability insurance will help cover expenses for damage to someone else’s property and/or legal costs if another party decides to file a lawsuit. What is HVAC contractor insurance?

Insurance 52

Insurance Contractors Liability Accidents 52

Levelset

AUGUST 16, 2022

However, larger projects come with greater risks and additional challenges. Large, multi-year projects are also more likely to face risks from potential economic changes, supply chain issues, and other unforeseen pressures that can threaten them. GCs can also purchase subcontractor default insurance to reduce this risk.

Risk 52

Risk Cash Flow Construction Banking 52

Autodesk Construction Cloud

NOVEMBER 15, 2021

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. Owners pass on certain risks (contractually) to general contractors, who may do the same thing when hiring specialty contractors. Let’s meet in the middle.

Contract 52

Contract Contractors Negotiation Subcontracting 52

Green Building Law Update

DECEMBER 3, 2017

And there is some form of privacy law in at least 48 states (but not Alabama and South Dakota), including by way of example the California’s groundbreaking 2003 Data Security Breach Reporting Law , but most of those are reactive, that is most laws in the U.S. business seeking to mitigate the risk associated with data protection.

Green 120

Green Risk Claims Drafting 120

Construction Business Owner

NOVEMBER 23, 2020

How to Step Up Your Game on Loss Control & Claims Management. Strategically marketing your specific data is imperative to secure the best option available in the current market. . Risk Management. construction claims management. Author Bio Richard Kohn and William Lathem are Risk Consultants at Cobbs Allen.

Claims 156

Claims Virgin Islands Management Puerto Rico 156

Contractor Bookkeeping

JUNE 20, 2014

We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way.

Insurance 48

Insurance Construction Accounting Claims 48

Contractor Bookkeeping

JUNE 15, 2012

We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered.

Contractors 48

Contractors Insurance Claims Lien 48

GCP Applied Technologies

JANUARY 9, 2019

Replacing a floor that has been damaged by moisture can cost many times the original installation expense and this risk should be taken seriously. . Does your contract expose you to potential liability for moisture damage—and, if so, for how many years? return to top. . return to top. Moisture testing for new and replacement floors.

Concrete 92

Concrete Retail Schedule Renovating 92

GCP Applied Technologies

JANUARY 9, 2019

Replacing a floor that has been damaged by moisture can cost many times the original installation expense and this risk should be taken seriously. . Does your contract expose you to potential liability for moisture damage—and, if so, for how many years? return to top. . Learn about moisture testing and floor moisture barriers. .

Concrete 60

Concrete Retail Schedule Renovating 60

Contractor Bookkeeping

JANUARY 2, 2015

Get Organized - We strongly recommend a Subchapter S-Corp for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn. The Hard Way.

Construction 48

Construction Insurance Accounting Claims 48

GCP Applied Technologies

JANUARY 9, 2019

Replacing a floor that has been damaged by moisture can cost many times the original installation expense and this risk should be taken seriously. Does your contract expose you to potential liability for moisture damage—and, if so, for how many years? return to top. . return to top. Moisture testing for new and replacement floors.

Concrete 84

Concrete Schedule Retail Renovating 84

Job Order Contracting

DECEMBER 13, 2020

56% of trade contractors cite poor coordination and communication as negative impact on productivity 68% of trade contractors claim that poor schedule management is the top contributor to low productivity Only 22% of organizations use a PM software. Project Performance and the Liability of Group Harmony?, Klastorin, T. and Valluzzi, J.

Project Management 161

Project Management Capterra Organization Management 161

Construction Business Owner

DECEMBER 20, 2020

Strategically marketing your specific data is imperative to secure the best option available in the current market. . Risk Management. construction claims management. Author Bio Richard Kohn and William Lathem are Risk Consultants at Cobbs Allen. Fill out the form on this page to read the rest of this article. .

Insurance 156

Insurance Virgin Islands Puerto Rico Alabama 156

Buisness Facilities Contributed Content

APRIL 15, 2014

CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. The enterprise zone credit is equal to $2500 per permanent new employee and can be applied against the income tax and/or business privilege tax liability.

Income 108

Income Finance Zoning Employment 108

Buisness Facilities Contributed Content

MARCH 21, 2014

It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years. The credit is 20 percent of the actual costs limited to the employer’s income tax liability.

Income 75

Income Finance Zoning Equipment 75