Levelset

SEPTEMBER 23, 2022

General contractors know these risks when they take the role. Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? Who is covered by an insurance policy? GC insurance & subcontractor coverage. General liability insurance.

Insurance 52

Insurance Liability Accidents Risk 52

Construction Law Monitor

AUGUST 9, 2011

Liberty Mutual Insurance Company (“Sloan”), the US Court of Appeals for the Third Circuit has an in depth discussion regarding some technical yet very important clauses found within many construction contracts between general contractor, subcontractors, owner and the surety. Liquidating Agreement. Click here for Daniel S.

Agreement 57

Agreement Contract Insurance Construction 57

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

Best Practices Construction Law

FEBRUARY 21, 2018

Reading and understanding an insurance policy on a construction project can be a lot like understanding my kids playing Speak Out. Proper insurance coverage is an important risk management tool for contractors, subcontractors, project owners/developers and design professionals. Nautilus Insurance Co. ,

Insurance 54

Insurance Subcontracting Injury Construction 54

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

APRIL 8, 2022

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding a homeowner’s insurance policy – and what it covers – can be helpful when deciding to take on a project. Understanding homeowner insurance policies.

Insurance 52

Insurance Claims Agreement Lien 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

APRIL 28, 2022

While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. 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.

Insurance 52

Insurance Contractors Claims ABC 52

Construction Marketing

JULY 11, 2022

If the principal’s bond application is approved, the surety company will require the principal to sign an indemnity agreement before it will issue the bond. The indemnity agreement provides that the principal will hold the surety harmless if a claim is filed against the bond. Are Surety Bonds Insurance?

Contractors 156

Contractors Legal Bidding Contract 156

Levelset

APRIL 8, 2022

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding a homeowner’s insurance policy – and what it covers – can be helpful when deciding to take on a project. Understanding homeowner insurance policies.

Insurance 52

Insurance Claims Agreement Lien 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

PSMJ Resources

AUGUST 3, 2011

XL Insurance Enters Collaborative Agreement With PSMJ Resources, Inc. to Advance A/Es Risk and Practice Management. This agreement is an unprecedented exchange, which comes at a time of unprecedented change, to further our clients’ efforts to not only protect their firms, but help them thrive. PSMJ Resources, Inc.

Insurance 43

Insurance Resource Agreement Liability 43

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

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 Finance Construction 98

Autodesk Construction Cloud

SEPTEMBER 1, 2022

The construction industry uses different kinds of agreements depending on the project’s scope, delivery, schedule, budget, and the parties involved. A construction contract agreement gets everyone involved in a project on the same page. . They also include overhead costs such as insurance, mileage, a portion of your office rent.

Contract 98

Contract Maine Construction Agreement 98

Levelset

OCTOBER 13, 2022

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.

Insurance 52

Insurance Certification Contractors Liability 52

Lets Build

MAY 18, 2017

Disputes over insurance agreements can be, for example, one of those reasons. One of the project parties may feel that it’s entitled to some compensation while the insurance company, or whoever is responsible for that may have a different opinion. The reasons for a contract dispute may vary each time. Strike Action.

Construction 165

Construction Life Cycle Contract Plans 165

Construction and Infrastructure Law

JANUARY 9, 2020

Indemnification clauses appear in nearly every agreement, but they are often overlooked as mere boilerplate provisions after the parties have painstakingly negotiated all of the other terms. A standard or canned indemnification clause might work to undo all of the effort that has gone into properly allocating risk. Code § 2782; N.Y.

Liability 69

Liability Agreement Drafting Insurance 69

Lets Build

JUNE 29, 2017

Do you have insurance? Ensure all the bidders are actually qualified to work as a subcontractor , and have the required licenses and insurance. If the job requires ordering a lot of materials, you can do it under your name to minimize the risk. Ask the right questions: What else have you worked on? Do they have certifications?

Construction 163

Construction Contractors Contract Change Orders 163

Construction Lawyer

OCTOBER 18, 2006

You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. Indemnity Agreement. Listed below are links to weblogs that reference Indemnity Agreement : Recent Posts. Banfield (No. Categories.

Agreement 40

Agreement Illinois AIA Chicago 40

Construction Lawyer

MAY 13, 2009

You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. Risks in LEED design. There is an interesting discussion of some issues and risks to design professionals involving LEED projects at [link].

Risk 40

Risk Design Illinois AIA 40

Construction Lawyer

DECEMBER 28, 2007

You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. Non-signatory bound by agreement to arbitrate. Normally, only a party to an agreement to arbitrate is bound by the arbitration provision.

Agreement 40

Agreement Illinois AIA Chicago 40

Levelset

APRIL 15, 2022

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs. Setting up an AOB.

Insurance 52

Insurance Contractors Lien Claims 52

Construction Lawyer

APRIL 20, 2006

You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. CGL policy -- conflict of interest between builder and insurer. In the recent Illinois opinion in American Family Mutual Insurance v.

Insurance 40

Insurance Illinois AIA Chicago 40

Construction Law Monitor

OCTOBER 19, 2011

Simply put, surety bonds are a three-party agreement, which consists of an obligee, principal and surety company. If the principal should default on the agreement in anyway, the surety agency is responsible for payment of financial damages. Surety bonds are another form of insurance.

Insurance 51

Insurance Compensation Claims Agreement 51

Levelset

SEPTEMBER 12, 2022

” You may already have an insurance policy that offers coverage for business property and general liability. An installation floater is a form of insurance coverage that protects the value of building materials that will become a permanent part of a commercial or residential structure. Who needs installation floater insurance?

Insurance 52

Insurance Liability Risk Materials 52

Construction and Infrastructure Law

JANUARY 9, 2020

Indemnification clauses appear in nearly every agreement, but they are often overlooked as mere boilerplate provisions after the parties have painstakingly negotiated all of the other terms. A standard or canned indemnification clause might work to undo all of the effort that has gone into properly allocating risk. Code § 2782; N.Y.

Liability 52

Liability Agreement Drafting Insurance 52

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. Termination Termination: fortune may favour the brave (and well-prepared) Termination of contracts is on the rise, even though it is still regarded as a last resort, one that carries risks.

Construction 52

Construction Liability Risk Contract 52

Fieldwire

AUGUST 14, 2023

The practice dates back to the 1840s, dreamed up as a measure to reduce the owner’s risk and ensure that the project is fully completed according to the job specifications. It is governed by the contract, which means it’s part of the agreement between two parties. Retainage is up for negotiation Retainage is not set in stone.

Contractors 98

Contractors Cash Flow Lien Negotiation 98

ENR Construction

AUGUST 16, 2017

In revising its standard form agreements, AIA calls out as optional additional coverage that could be added to builders' risk policies.

AIA 28

AIA Insurance Agreement Contract 28

Constructlaw

FEBRUARY 7, 2023

Fire broke out, resulting in a loss that was paid by the owner’s builder’s risk insurance. The builder’s risk carriers — subrogated to the rights of the owner — then sued the prime contractor, its subcontractor, and sub-subcontractor for negligence. This case involved the restoration of an old building in New Orleans.

Louisiana 52

Louisiana AIA Insurance Contract 52

Autodesk Construction Cloud

JUNE 3, 2022

Certificates of insurance. 1: Construction Agreement. A construction agreement is a document that goes over the scope of work that is to be done on a construction project. Insurance . The basic agreement has to be signed before any work can begin. . Architectural drawings. Work orders. Safety reports.

Documentation 98

Documentation Construction Schedule Permits 98

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 Law Monitor

NOVEMBER 30, 2010

The terms of their agreement are the terms of their agreement, and courts are required to enforce them. Contractors and suppliers very frequently enter into complex and lengthy indemnification agreements, and this law will render some of these agreements null and void. That’s the general rule.

Louisiana 48

Louisiana Contract Agreement Construction 48

Pro Builder

AUGUST 5, 2022

Cannabis and the Jobsite: Keeping Your Risk to a Minimum. Scott Smith, corporate director of safety management services for Selective Insurance Group , a holding company for 10 property and casualty insurers, sees it more simply. There’s a gap in the management of risk and safety in construction,” he says. Foulke Jr.,

Safety 72

Safety Resource Injury Construction 72

Construction Lawyer

NOVEMBER 11, 2007

You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. One of the new 2007 AIA documents is B103 -- Owner-Architect Agreement for a Large or Complex Project. Here it is: § 8.1.3 Here it is: § 8.1.3

Liability 40

Liability AIA Documentation Illinois 40

Construction Law Monitor

NOVEMBER 2, 2011

A good subcontractor will have his attorney review any agreement to make sure that the deal is an even one. There should be a clear provision in the contract outlining the process whereby CO’s are made and approved; Define change order – modification to work already contemplated by the agreement; (ie different materials).

Contract 56

Contract Change Orders Lien Contractors 56