Pro Builder

JUNE 17, 2021

Managing Rising Construction Costs: Insurance. Builders and remodelers may be subjected to coinsurance penalties as a result of rising building material prices if they do not make changes to their policies. If the insured fails to maintain the coverage, possibly due to changing costs and values, the insured is subject to a penalty.

Insurance 52

Insurance Management Remodeling Construction 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

Autodesk Construction Cloud

SEPTEMBER 13, 2022

There is a perfect storm of labor shortages, supply chain disruptions, and rising material costs that is bringing everything to a head. So how can companies optimize for their bottom line without putting their businesses at risk? . Risk management is a multifaceted challenge. million in avoidable rework.

Autodesk 105

Autodesk Risk Industrial Construction 105

Levelset

SEPTEMBER 16, 2022

Your base insurance policy may offer some coverage for unexpected damage to some business property, but making assumptions about the extent of coverage could lead to some financial distress. . An equipment floater offers insurance protection for your business property as it moves from location to location. What is an equipment floater?

Insurance 52

Insurance Equipment Contractors 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

Pro Builder

NOVEMBER 30, 2022

NAHB Chairman's Message: Proposal to Create Climate Risk Committee. NAHB will continue to be the housing industry’s voice regarding climate issues, with NAHB's Leadership Council recommending the creation of a new Climate Risk Committee. Does Access to Flood-Risk Data Impact Homebuyer Decisions? Wed, 11/30/2022 - 16:18.

NAHB 98

NAHB Risk Regulation Sustainability 98

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. Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Restoration contractors can spend a lot of time waiting for payment.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Levelset

AUGUST 5, 2022

Construction insurance can be confusing. Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. Learn more: What types of insurance do contractors need? Learn more: What types of insurance do contractors need? CCIP vs. OCIP insurance.

Insurance 52

Insurance Liability Claims Construction 52

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 26, 2022

When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.

Insurance 52

Insurance Liability Equipment Agreement 52

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.

Insurance 52

Insurance Liability Electrical Accidents 52

Construction Business Owner

DECEMBER 5, 2014

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. Throughout the last decade, the construction industry has spawned an entirely new black market industry—construction theft.

Security 273

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.

Risk 59

Risk Plans Insurance Construction 59

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

CivilJungle

DECEMBER 21, 2021

Information of Construction Risk Management. Construction risk management is a long steep process, in which we have to calculate the all-possible risk and determine the process by which we can reduce this type of risk. Where we identify, analyze the risks and work over them. What Is Construction Risk Management ?

Risk 52

Risk Management Contractors Construction 52

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. Equipment Keys.'

Insurance 304

Insurance Equipment Estimating Risk 304

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

Levelset

FEBRUARY 3, 2023

That’s why we’ve built Materials Financing to empower you to buy materials now and pay for them later with up to 120-day payment terms. Let’s take a deeper look into four ways Materials Financing can help free up capital and recession-proof your business.

Finance 52

Finance Cash Flow Materials Security 52

Levelset

SEPTEMBER 12, 2022

Despite your best efforts to protect building materials, any number of things can happen during the course of construction. ” 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.

Insurance 52

Insurance Liability Risk Materials 52

Viewpoint Construction Technology

JUNE 3, 2019

Conflicts and other project risks can delay work and negatively impact bottom lines. Delayed delivery of construction materials. Lack of information, errors with materials or equipment, missing documentation and much more can bring work to a grinding halt. This may work for them. Limited human resources. Weather delays.

Risk 130

Risk Software Software Construction 130

Green Building Law Update

DECEMBER 3, 2017

There are a panoply of federal laws within discreet silos, including significantly: The Health Insurance Portability and Accountability Act (HIPAA), The Family Educational Rights and Privacy Act (FERPA), the Fair and Accurate Credit Transaction Act (FACTA), and the like. business seeking to mitigate the risk associated with data protection.

Green 120

Green Risk Claims Drafting 120

Safety Services Company

FEBRUARY 19, 2020

IS YOUR BUSINESS EFFECTIVELY PRIORITIZING 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.

Risk 62

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.

Risk 62

Risk Management Construction Safety 62

Job Order Contracting

FEBRUARY 24, 2018

Employee payroll taxes, insurance, and fringe benefits. All waste and excess material. Sales tax on material and equipment costs. Other risks of doing business (i.e. Subcontractors’ overhead and profit. All costs associated with bonding (specifically including bond premiums). Submittal preparation. As built drawings.

Overhead 100

Overhead Permits Insurance Contract 100

Levelset

SEPTEMBER 16, 2022

Who pays for damages caused by faulty work or materials? 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.

Insurance 52

Insurance Liability Claims Contractors 52

Construction Law Monitor

MAY 8, 2013

Homes built with sustainable, energy-efficient materials are proving to be less vulnerable to wind, hail and water, making them better investments for homebuyers and more attractive to insurers seeking to lessen risk. billion in insurance claims, averaging $96,821 each. According to the III, Hurricane Katrina cost $16.2

Sustainability 58

Sustainability Risk Insurance Claims 58

Construction Marketing

FEBRUARY 20, 2023

Investing in quality materials and maintenance will also help keep your investments in top condition. Make sure you know your stuff when it comes to project planning and risk assessment so that everyone knows what’s expected of them. For every business, having really effective management practices is an absolute must.

Construction 304

Construction Risk Management Resource 304

Levelset

OCTOBER 19, 2022

However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. There are common risks that are prevalent in every construction loan program. Budgeting problems.

Contractors 98

Contractors Lien Construction Finance 98

Job Order Contracting

DECEMBER 20, 2017

home office overhead; insurance, bonds, and indemnification; project meetings, training, management and supervision; mobilization and close-out for the contract and each Project/Job Order; project office staff and equipment; profit; subcontractor’s overhead and profit; all taxes for which a waiver is not available including material sales tax (..)

Contract 100

Contract Overhead Insurance Profitability 100

Construction Marketing

FEBRUARY 17, 2022

It covers land acquisition costs, building materials, construction permits, labor, contingency and interest reserves, closing costs, and plans. Find out if you can use your land equity towards your down payment, how they pay construction draws, and if the contractor can request a draw to cover material costs.

Construction 274

Construction Budgeting Budget Drawings 274

Pro Builder

FEBRUARY 18, 2022

Climate emergencies are becoming a major priority for homeowners in high-risk areas, especially after one of the most destructive years for severe weather on record in 2021. Severe weather events are becoming more common and more severe, threatening existing homes and leading to new considerations for prospective buyers in high-risk areas.

Insurance 52

Insurance United States Risk Environment 52

Job Order Contracting

SEPTEMBER 28, 2016

Example include, general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, and contractor’s profit. Employee payroll taxes, insurance and fringe benefits. All waste and excess material. Sales tax on material and equipment costs.

Contract 100

Contract Overhead Insurance Profitability 100

Autodesk Construction Cloud

SEPTEMBER 1, 2022

time and materials contract. The costs can include direct costs such as labor, materials, supplies, etc. They also include overhead costs such as insurance, mileage, a portion of your office rent. There’s seemingly no risk of losing money on materials. There’s seemingly no risk of losing money on materials.

Contract 98

Contract Maine Construction Agreement 98

Job Order Contracting

FEBRUARY 7, 2020

A construction cost audit and associated checklist are important risk management and LEAN construction planning, procurement, and project delivery tools. This includes pre-construction and planning phase activities including initial owner scope of work as well as all related planning, procurement, and project management processes.

Construction 160

Construction Procurement Documentation CSI 160

Construction Law

OCTOBER 3, 2023

CL guides The site The latest in our regular Construction Law Guides series comes from Joanne Bennett of DLA Piper, who examines legal issues relating to construction sites, including access, responsibility for the site, unforeseen conditions and ownership of materials on site.

Procurement 52

Procurement Construction Insurance Legal 52

Levelset

NOVEMBER 10, 2022

In this article, we’ll explore the most common jobsite safety risks — and what contractors can do to improve safety for all parties involved. . Common jobsite safety risks. Struck-by : Building materials being unloaded overhead by cranes or booms frequently result in struck-by incidents. Work with your insurance provider.

Safety 52

Safety Site Injury Construction 52

Construction Marketing

JANUARY 6, 2023

Less than 25% of stolen construction materials are returned to the company. It is known for construction site staff to steal equipment while on the job, which is why keeping detailed logs of who has each item can help you to spot and protect yourself against potential theft, which you might need to make an insurance claim for down the line.

Security 286

Security Site Mobility Construction 286