Construction Law

MARCH 1, 2021

Insurance has never felt cheap to companies in the construction sector, although many or most of them never took the sort of risk management measures highlighted in our regular insurance articles, so to a large extent often had only themselves to blame if they were paying higher premiums than they need have.

Insurance 97

Insurance Risk Industrial Plans 97

Construction Dive

AUGUST 16, 2023

Required disclosures could prompt more lawsuits as plaintiffs leverage what companies file with the agency, driving an increase in insurance exclusions, industry experts say.

Insurance 62

Insurance Industrial 62

Construction Business Owner

FEBRUARY 18, 2016

Like many businesses, the insurance industry is cyclical in nature. The insurance cycle is important to business owners because it directly impacts insurance premiums. As for insurance pricing today, Table 1 provides a historical picture of insurance industry rates calculated by MarketScout, with 2004 as the base year.

Insurance 120

Insurance Forecasting Profitability Industrial 120

Construction Business Owner

DECEMBER 4, 2023

mhodges Mon, 12/04/2023 - 08:13 According to Joe Tejeda, Practice Leader for PCF Construction, one of the most pressing issues in the construction industry today is the unforeseen or unintended increase in risk exposures due to rising construction material costs.

Insurance 156

Insurance Risk Security Contractors 156

Construction Law

JANUARY 11, 2024

Construction insurance will experience increasing impacts from the accelerating spread of Artificial Intelligence technology across the industry, warns law firm RPC in its Annual Insurance Review. To read more of this and every other news story on this site, please log in with your Construction Law membership account details.

Insurance 52

Insurance Claims Accounting News 52

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.

Insurance 52

Insurance Liability Compensation Construction 52

Construction Dive

OCTOBER 4, 2023

Construction industry news, trends and jobs for building professionals who want mobile-friendly content.

Insurance 132

Insurance Mobility Construction News 132

Construction Business Owner

MARCH 25, 2015

With the start of a new year, the construction insurance market is showing signs of ambivalence from most insurers. Insurance underwriters will likely focus on keeping existing clients happy (through pricing flexibility, broad coverages and service commitments), while simultaneously trying to grow business.

Insurance 120

Insurance Finance Industrial Construction 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

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.

Insurance 52

Insurance Liability Construction Contract 52

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

Construction Business Owner

OCTOBER 30, 2015

Unmanned aircraft systems (UAS), commonly referred to as drones, represent an enormous growth industry with potential uses across many trades. Drones are well suited for applications in construction, agriculture, energy, wireless communications, insurance, search and rescue, law enforcement, firefighting, real estate, photography and film.

Insurance 120

Insurance Industrial Construction 120

Business Facilities

OCTOBER 7, 2021

Biometrics, artificial intelligence and blockchain are being embraced by the financial services and insurance sectors, fueling a wave of fintech startups. The post Finance & Insurance: Fintech’s Future Is Now appeared first on Business Facilities Magazine - Area Economic Development, Site Selection & Workforce Solutions.

Insurance 64

Insurance Finance Site North Carolina 64

Green Building Law Update

MAY 12, 2019

In a case having broad implications given the wide mandatory recycling of restaurant waste cooking oil across the country, in a decision filed on April 29, 2019, a federal appeals court held that contaminated recycled fat could trigger the “pollution exclusion” in an insurance policy. In Restaurant Recycling, LLC v.

Insurance 120

Insurance Employment Commercial Products 120

Levelset

APRIL 28, 2022

Construction is a risky business, with among the highest rates of failure of any industry. 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. Related: 16 types of insurance coverage for contractors.

Insurance 52

Insurance Contractors Claims ABC 52

Construction Business Owner

JANUARY 10, 2024

Cutting-edge technologies are being integrated into every stage of the construction process and revolutionizing the industry in several ways. Ultimately, those who fail to embrace some of these emerging technologies will find themselves paying for cost overruns, project delays, liquidated damages and potentially higher insurance rates.

Insurance 156

Insurance Accounting Innovation Sustainability 156

Construction Business Owner

JUNE 27, 2023

How AI Solutions Can Ease Water Woes & Control Costs ccapoccia Tue, 06/27/2023 - 18:58 Water waste and damage are enormous problems for the construction industry.

Insurance 156

Insurance Materials Contractors Management 156

Pro Builder

FEBRUARY 4, 2021

What Home Builders Should Know About Liability Insurance. Head of Home Builder Insurance for Berkshire Hathaway Specialty Insurance Katie Beck sits down with Jenny Simon, director of marketing communications for IBACOS to break down the challenges she faces when offering and underwriting coverage for builders. cbroderick.

Insurance 52

Insurance Liability Risk Management 52

Autodesk Construction Cloud

SEPTEMBER 13, 2022

As with every industry, everything ultimately boils down to the bottom line. However, the industry is at a pressure point and unfortunately, the unexpected is one of the few things companies can expect. It’s currently difficult for insurers to quantify and price risk effectively for construction companies.

Autodesk 105

Autodesk Risk Industrial Construction 105

Construction Business Owner

APRIL 5, 2021

The still-evolving circumstances of the COVID-19 pandemic paired with construction’s already demanding work environment has the industry operating at the height of caution and risk management. But for business owners, now is as crucial a time as ever to assess some of the more familiar pillars of protection: insurance. Alex Headley.

Risk 334

Risk Insurance Safety Environment 334

Construction Law

MAY 2, 2024

Our insurance expert John D Wright of JD Risk Associates examines Joint Names Clauses which have been in use for over 40 years and were hoped to result in less litigation, but the industry still struggles to gain the benefits and court analysis of clauses themselves is common.

Insurance 52

Insurance Risk Industrial Construction 52

Viewpoint Construction Technology

SEPTEMBER 27, 2018

We know many of you have had a busy summer, so it’s a good time to take a breath and see what’s been going on in our industry (like rising material costs), as well as what’s on the horizon (like more green building ). Wearables’ ROI Is in Safety and Insurance, Expert Says. 19 Mayors Pledge to Make All New Buildings Net-Zero by 2030.

Industrial 162

Industrial Construction News Insurance 162

Construction Junkie

MARCH 16, 2021

Last summer, we learned that Travelers Insurance believed that using Procore as a project management tool helped contractors reduce risk on their projects so much that they were willing to help pay for them to join the platform. Arkansas 4. Colorado 5. Connecticut 6. Delaware 7. Illinois 12. Kentucky 15. Maryland 16. Massachusetts 17.

ProCore 62

ProCore Travel Insurance Rhode Island 62

Green Industry Professionals

JANUARY 5, 2018

Fines totalling more than £150,000 handed down over use of private detectives to illegally obtain private banking records An insurance firm and two senior figures connected with the company have been given record fines for using private detectives to illegally obtain the private banking records of a businessman they were investigating.

Insurance 111

Insurance Banking Security Industrial 111

Construction Business Owner

JANUARY 15, 2017

Currently, the construction insurance marketplace, excluding health insurance, proves to be a favorable environment for the insurance buyer.

Risk 208

Risk Insurance Negotiation Commercial 208

Construction Dive

JULY 18, 2018

Recent announcements include autonomous drone thermal imaging from 3DR's Site Scan, industry-tailored cyber insurance from Willis Towers Watson and an automated supply chain tracking system from Command Alkon.

Insurance 62

Insurance Site Industrial 62

Construction Business Owner

OCTOBER 27, 2016

Part of an effective risk management program involves monitoring the industry and economic trends that could affect your business. Cal Beyer is the director of risk management at Lakeside Industries in Issaquah, Washington.

Risk 273

Risk Management Insurance Washington 273

Construction Law

JUNE 1, 2021

The Times gave more space to construction and its problems in a series spread over three days in May than the industry has probably ever received at one go from a national newspaper. The industry was characterised as ‘toxic and dysfunctional’ and racing to the bottom. None of it was good. They won’t stay so well hidden for much longer.

Industrial 52

Industrial Insurance Banking Procurement 52

NH Construction Law

JULY 26, 2020

“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” When the subcontractor installed the expansion joints in the steam boiler and related piping backwards, the heating system got damaged.

Insurance 40

Insurance Liability Accidents Michigan 40

Construction Business Owner

NOVEMBER 10, 2015

While proper staffing is an area of constant concern for business owners, one area of particular concern is the impact of substance abuse on the construction industry. With this increase in project volume, project owners, developers and contractors will have a greater challenge finding employees to adequately staff projects.

Insurance 120

Insurance Residential Commercial Contractors 120

Construction Business Owner

MAY 30, 2013

The cost of theft in the construction industry is estimated to be a billion dollars by the National Insurance Crime Bureau. Additionally, heavy equipment owners can’t rely entirely on insurance to offset the cost of theft. Unsecured equipment and materials are especially at risk.

Insurance 304

Insurance Equipment Estimating Risk 304

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

Construction Law

OCTOBER 3, 2022

Some interesting insights on the state of the industry and its contractual relationships emerge from the RIBA Construction Contracts and Law report (see News), the first since 2018. For a start, it confirms that for an industry supposedly striving to move towards a more collaborative future, there is clearly a lot to be done.

Industrial 52

Industrial Contract Consulting Negotiation 52

Construction Business Owner

OCTOBER 26, 2012

While crime exposures for some businesses can be measured and quantified by the amount of cash or other valuables on hand, employee fidelity claims in the construction industry and the losses arising out of such acts can be difficult to identify or quantify. No construction firm is immune to employee dishonesty or crime losses.

Liability 149

Liability Insurance Employment Claims 149

Construction Business Owner

JUNE 1, 2023

Turner-Moffatt is the CEO and president of the certified minority- and women-owned business enterprise (MWBE) safety firm CDT EHS Consulting LLC, established in 2007, and she is proud to be a woman of color in a male-dominated industry. Turner-Moffatt is a Ph.D.

Safety 287

Safety Equity ASPE Consulting 287

BD+C

JANUARY 2, 2015

The construction industry and real estate development could be hampered by the U.S. Congress’s failure to renew the Terrorism Risk Insurance Act (TRIA). Legislation Codes and Standards'

Insurance 40

Insurance Industrial Risk Construction 40

Constructonomics

SEPTEMBER 9, 2016

Every industry is being affected by what is happening, but is having an especially big impact on the construction sector. The insurance industry believes that the cost could be even higher than that. In the meantime, the construction industry is doing its best to provide protection for the buildings that they are working on.

Industrial 100

Industrial Construction Insurance Commercial 100