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 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.

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Risk Insurance Safety Environment 334

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

Construction Business Owner

JANUARY 12, 2017

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

Risk 120

Risk Insurance Negotiation Commercial 120

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

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

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

Construction Business Owner

NOVEMBER 15, 2016

Last week, the International Risk Management Institute (IRMI) hosted its 36th Construction Risk Conference in Orlando, Florida. The conference featured three general sessions and 27 seminars presented by more than 60 nationally recognized insurance, risk management, safety and surety experts.

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Conference Risk Roads Insurance 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

APRIL 28, 2022

Construction is a risky business, with among the highest rates of failure of any industry. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. Related: 16 types of insurance coverage for contractors. How SubGuard insurance works.

Insurance 52

Insurance Contractors Claims ABC 52

Construction Business Owner

DECEMBER 5, 2014

Throughout the last decade, the construction industry has spawned an entirely new black market industry—construction theft. According to the National Insurance Crime Bureau, as much as $1 billion in construction tools, equipment and materials is stolen nationwide each year, 90 percent of which is taken directly from construction sites.

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Security Risk Insurance Equipment 273

Fieldwire

JANUARY 25, 2022

Every construction project is uniquely different, and the distinctive characteristics of the industry - such as high-cost intensity and lengthy durations - also add an additional layer of complexity to the risk landscape. The Importance of Project Risk Planning. Workflow of Risk Planning. treating the risks.

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Risk Plans Insurance Construction 59

Construction Business Owner

DECEMBER 21, 2012

Insights from the International Risk Management Institute’s annual conference.

Risk 149

Risk Insurance Conference Industrial 149

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

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

FEBRUARY 5, 2022

How to Manage Risk in Your Construction Project. According to The Construction Industry Institute , there are about 107 construction risks you should consider when managing a project. Before you start panicking about the 90 plus risks on the list you’re probably not completely aware of at this moment, let’s take a step back.

Risk 59

Risk Management Construction Documentation 59

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

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. Unsecured equipment and materials are especially at risk. Additionally, heavy equipment owners can’t rely entirely on insurance to offset the cost of theft.

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Insurance Equipment Estimating Risk 304

Safety Services Company

OCTOBER 30, 2023

Your Preferred Industry and Business Strategy Your hiring client will dictate which platform is required and may choose a particular one based on the industry you are in. These can relate to your insurance, financial stability, safety records, etc.

Insurance 104

Insurance Certification Contractors Safety 104

Construction Business Owner

DECEMBER 1, 2016

The International Risk Management Institute Inc., now known throughout the industry as IRMI, was founded in 1978 with the main purpose of providing education, by way of seminar and print publication, to risk managers, insurance agents/brokers, underwriters and other insurance professionals.

Security 136

Security Insurance Risk Education 136

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. If you do a little digging, you may notice that many industries utilise development and maintenance processes that are often repetitive and standardised across the scope of their operations. This may work for them. Process Issues.

Risk 130

Risk Software Software Construction 130

Safety Services Company

FEBRUARY 13, 2024

2023 was a year of resilience, pressure, and economic uncertainty for our industry. Without completing it, you risk losing qualifications or compliance until it’s finished. Ensuring you have the accurate NAICS code listed on your OSHA logs is key to ensuring your TRIR is accurately reported for your industry.

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FAQ Contractors Management OSHA 79

Safety Services Company

FEBRUARY 19, 2020

IS YOUR BUSINESS EFFECTIVELY PRIORITIZING CONSTRUCTION RISK MANAGEMENT? Truth be told, every industry involves risk. Ever-present risks can delay or completely derail investments. With that said, construction risk management should be a priority for your company. WHAT IS CONSTRUCTION RISK MANAGEMENT?

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Risk Management Construction Safety 62

Safety Services Company

FEBRUARY 18, 2020

How Well Does Your Business Prioritize Construction Risk Management? Truth be told, every industry involves risk. Whether the project involves a multi-million-dollar office building or a three-story apartment complex, there are several risks that need to be considered in order to ensure the success of any construction project.

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Risk Management Construction Safety 62

Autodesk Construction Cloud

OCTOBER 5, 2023

Behind this optimism, however, are labour shortages and a widespread perception of the construction industry as ‘behind the times’ which has resulted in a dearth of available digital talent. These cultural issues are a hindrance to the industry’s capacity to efficiently and effectively carry out work projects.

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Safety Insurance Risk Documentation 88

Construction Law

MAY 2, 2024

News Our regular news round up includes a survey saying collaboration is on the rise; Network Rail promises a partnering approach in its new framework; and a warning that carbon reduction policy risks legal challenge. Legal terms explained Isabella Salame of Herbert Smith Freehills LLP explains what is meant by non-delegable duties.

Construction 52

Construction Legal Cash Flow Insurance 52

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

Construction Business Owner

SEPTEMBER 27, 2013

One risk facing the construction industry is liability for defects in a company’s work.

Insurance 153

Insurance Liability Residential Commercial 153

DebunkTheBIM

DECEMBER 6, 2011

I believe that hands-on manipulating of project information by all project participants is the key to achieving any meaningful improvement of the AEC industry operating within the post-gambling-era. “Insurance is all about risk management” Says Walid Shidani in his interview given to Rupert Wright, this week.

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Insurance Risk Management BIM 48

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

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

Construction Law

APRIL 2, 2024

The government’s own net zero carbon targets are at risk if the speed of delivery of investments isn’t increased. Guest Editors Jane Hughes and Isobel Moorhouse of Trowers & Hamlins LLP say that despite years of industry campaigning the end of retentions is not in sight. Guest editor Retentions – time to say goodbye?

Construction 52

Construction Liability Risk Contract 52

Pro Builder

SEPTEMBER 24, 2021

As the mortgage industry wonders what to do next it will have to pivot from risk models that are focused on credit and operating risk underwritten and priced by insurance companies. Fri, 09/24/2021 - 10:46. That means climate change will send significant pressure down a long financial line. Resilient Construction.

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Insurance Risk Modeling Housing 52