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

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

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

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. If you have enough workers for your construction project, you may face health and safety hazards on the construction site.

Risk 59

Risk Plans Insurance Construction 59

Levelset

SEPTEMBER 13, 2022

Whether a third party gets hurt around the job site or the contractor causes property damage, someone needs to pay to make things right. In most cases, that’s what insurance is for, and the contractor will typically initiate a claim against their policy to take care of it. And what if the insurance won’t cover all or some of the costs?

Insurance 52

Insurance Claims Liability Accidents 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. Risks to employees are a top priority for contractors, and threats to health and safety aren’t the only cause for concern. Make safety a priority.

Safety 52

Safety Site Injury Construction 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 219

Security Risk Insurance Equipment 219

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

APRIL 1, 2022

Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. However, there is one very expensive cost that isn’t so cut and dry: construction site theft. Theft from construction sites is a serious issue, and it costs contractors a lot of money each year. Insurance claims.

Site 52

Site Cash Flow Insurance Construction 52

Green Building Law Update

FEBRUARY 12, 2014

Insurance companies cannot recover environmental cleanup costs paid to their insured under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund, from another Potentially Responsible Party ( unless their insured had first pursued a separate claim to recover the cleanup costs from that PRP).

Insurance 120

Insurance Liability Legal Claims 120

Lets Build

JUNE 13, 2017

Protecting your construction site can be harder than you think. According to CIOB (Chartered Institute of Building) , only in the UK the construction is losing around 400 million pounds per year as a result of equipment theft and on-site vandalism. The Issue of Construction Site Theft. How To Prevent Construction Site Theft.

Site 165

Site Construction Equipment Security 165

Business Facilities

OCTOBER 24, 2017

Companies are asking themselves in the wake of these catastrophic and costly storms, are we adequately evaluating the risk of natural disasters when deciding where to locate new facilities? This initial GIS screening is the optimal opportunity to incorporate natural disaster risk potential into a site selection evaluation.

Risk 42

Risk Site Puerto Rico California 42

Viewpoint Construction Technology

JUNE 3, 2019

Conflicts and other project risks can delay work and negatively impact bottom lines. The suite of problems which may arise may include contractual errors, technical issues, contract breaches, delayed payment, insurance and damage claims and obviously, non-compliance with legal requirements. The Effect of On-Site Disputes.

Risk 130

Risk Software Software Construction 130

Construction Law

DECEMBER 3, 2023

Our insurance expert John D Wright of JD Risk Associates looks at the process of making a claim under an insurance policy, which generate a lot of court attention. There are pitfalls for the unwary, he warns - and for the insurers as well. See the panel to the right.

Claims 40

Claims Insurance Accounting News 40

Best Practices Construction Law

SEPTEMBER 22, 2020

You probably saw last month’s report about a major accident at a construction site in downtown Miami, Florida. This is a good reminder of the lessons to learn when investigating or handling an accident on a construction site. Make sure medical issues are resolved immediately and lock down the site for evidence preservation.

Accidents 62

Accidents Site OSHA Miami 62

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

Wolgast Corporation

MARCH 2, 2022

Safety is an important aspect of any business but especially in construction, where a little accident can have serious impacts to those involved; the trades people on site, the owner, and the contractor. All work sites are subject to OSHA and governmental inspections.

Safety 62

Safety Site Accidents Injury 62

Wolgast Corporation

JULY 6, 2022

Members include architects, risk managers, parking specialists, lawyers, and perimeter safety professionals. Additionally, the fire department should be called on site in case any gas lines were effected, which could start a fire or explosion. The emergency response report is also useful in your insurance claim for timing and dates.

Insurance 118

Insurance Claims Safety Michigan 118

Safety Services Company

OCTOBER 16, 2023

In that case, the responsibility of dealing with workplace accidents or unsafe job sites will fall upon them, causing legal issues. Those who do not comply pose a high risk of impacting the hiring client’s project. You must upload 3 years of OSHA logs, Insurance (COI & EMR), and Safety programs (RAVS®).

Management 110

Management Contractors Safety OSHA 110

Safety Services Company

FEBRUARY 13, 2024

Here are some key aspects of Annual Updates to note for contractor safety and compliance: Purpose – To review changes to safety laws, regulations, and site requirements yearly. Without completing it, you risk losing qualifications or compliance until it’s finished. To receive it, talk to your workers comp insurance carrier.

FAQ 74

FAQ Contractors Management OSHA 74

Levelset

SEPTEMBER 12, 2022

” You may already have an insurance policy that offers coverage for business property and general liability. But, different rules apply for materials destined for installation and stored either on or away from the building site. The floater can stand alone or be a limited part of a builder’s risk business policy.

Insurance 52

Insurance Liability Risk Materials 52

Construction Marketing

MAY 19, 2021

As an employer, you should ensure that your construction site offers maximum safety and security standards to its workers. Here are critical steps you can undertake to enhance safety at your construction site. As a CEO, you should set safety standards for all people accessing the construction site. Keep track of all machinery.

Construction 175

Construction Safety Guidelines Employment 175

Job Order Contracting

FEBRUARY 24, 2018

Employee payroll taxes, insurance, and fringe benefits. Traffic and work site signs and barriers. Other risks of doing business (i.e. risk of a lower than expected contract dollar value, risk of a high inflation cost if factors are bid for option years, risk of poor subcontractor performance and re-performance).

Overhead 100

Overhead Permits Insurance Contract 100

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. And the insurer will have no say in the matter. Notice that this clause expressly addresses only property insurance.

Insurance 40

Insurance Liability Claims AIA 40

Construction Equipment

MARCH 5, 2019

As the construction industry continues to capitalize on IoT technology to combat job site safety risks, wearable devices are becoming instrumental in improving risk identification and response to incidents. Travelers Insurance, and Triax Technologies have partnered to explore… Gilbane Building Co.,

Safety 63

Safety Insurance Travel Risk 63

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

SEPTEMBER 16, 2022

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. Learn more: The most common types of insurance policies in construction.

Insurance 52

Insurance Liability Claims Contractors 52

Construction Business Owner

APRIL 5, 2012

INSURANCE |. Green Construction & Construction Software » The Business of Construction Risk Management. With every project, no matter how big or small, there is always risk – risk of injury, financial responsibility, or quality assurance. This, after all, is the foundation of the insurance industry.

Risk 120

Risk Insurance Construction Software 120

Construction Marketing

JULY 30, 2019

Besides that, there is also the risk other unforeseen damages that can leave you counting losses. Consider Insurance and License. Besides that, if they are insured, you can be sure they will not become a liability in case they suffer an injury in the process of doing their job. This is because the problem will keep on recurring.

Contractors 120

Contractors Insurance Compensation Liability 120

Best Practices Construction Law

NOVEMBER 11, 2013

You probably saw last month’s report about a second work-related fatality at the construction site of the San Francisco 49er’s new football stadium. Examples like this are good reminders of the lessons to learn when investigating or handling an accident on a construction site. These include: Prepare before the accident.

Accidents 86

Accidents San Francisco Site OSHA 86

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. Traffic and work site signs and barriers. Quality control.

Contract 100

Contract Overhead Insurance Profitability 100

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

FDR Safety

MARCH 28, 2018

When it comes to filling Temporary Safety positions, hiring managers simply can’t risk hiring an under qualified candidate. The reward of saving money on a less qualified employee is not worth the risk. We’ll even periodically visit sites to provide extra support to our client. Experience Required. Continuing Safety.

Safety 149

Safety Risk OSHA Insurance 149

Construction Equipment

SEPTEMBER 28, 2017

The Travelers insurance company has introduced a new digital tool that can help contractors identify areas around a construction site that may be negatively affected by the ground vibrations caused by heavy equipment.

Zoning 65

Zoning Travel Insurance Mobility 65

PSMJ Resources

AUGUST 3, 2011

XL Insurance Enters Collaborative Agreement With PSMJ Resources, Inc. to Advance A/Es Risk and Practice Management. The synergy of XL Insurance’s Design Professional group and PSMJ will drive relevant and timely thought leadership in our service to customers and the design community.” skip to main | skip to sidebar.

Insurance 43

Insurance Resource Agreement Liability 43