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Insurance market update: Property coverage in South Florida

Construction Dive

While many are quick to blame the macro trend of inflation for property insurance increases, there are actual events with consequences inherent to the Florida market, that should be credited for the recent developments.

Insurance 131
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Insurance Market Update

Construction Business Owner

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
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2013 Construction Insurance Market Update

Construction Business Owner

Contractors have begun to feel the circumstances of the current market and the “pinch in their pockets” by the underwriting community. Rate increases began in early 2012 and, to some degree, were nominal and isolated to accounts suffering adverse loss history.

Insurance 153
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2014 Construction Insurance Market Outlook

Construction Business Owner

Last fall, I penned my annual CBO “Market Update” article, and whether you remember or not, I was right on target. The insurance marketplace gave us quite a ride, with unforeseen consequences and challenges.' I predicted—with expert accuracy—that no one really knew what would happen in 2013. And I was absolutely correct.

Insurance 198
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Unit Price Construction Cost Estimating

Job Order Contracting

The use of national average cost data and associated “location factors” and/or updating using “economic factors” cannot provide sufficient cost visibility and can easily result in variances of 30%-40%. for the local market. Cost must be updated regularly.

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2013-2014 Construction Insurance Market Outlook

Construction Business Owner

Last fall, I penned my annual CBO “Market Update” article, and whether you remember or not, I was right on target. The insurance marketplace gave us quite a ride, with unforeseen consequences and challenges.' I predicted—with expert accuracy—that no one really knew what would happen in 2013. And I was absolutely correct.

Insurance 120
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Objective, reliable, and veriable Construction Cost Estimates

Job Order Contracting

A knowledgeable and well-trained estimating team is a key component along with a robust processes, procedures, a objective and granular local market construction task data. #1 5 Understand Your Products, Material, and Labor Costs/Pricing Factors that impact local market costs: Availability and demand for a product.