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Rising Construction Costs Lead to Higher Risks

Construction Business Owner

These cost escalations can directly correlate to higher insurance premiums, reduced risk appetite from insurance carriers, and a lack of policy extensions for project policies. However, in the face of rising costs and shifting risk landscapes, these insurance options are becoming increasingly complex to navigate.

Risk 354
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How to Get Better Options in Today’s Hard Insurance Market

Construction Business Owner

How to Get Better Options in Today’s Hard Insurance Market. One thing underwriters have made abundantly clear during this challenging renewal environment is that simply blasting a submission to multiple insurance carriers to find competitive pricing, will not produce the effective results it may have in the past. Greg Ragsdale.

Insurance 156
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Project Protection 101: Exclusive Insights for Cost Challenges

Construction Business Owner

What many might not know, is that these cost escalations can correlate directly to higher insurance premiums and reduce risk appetite from insurance carriers making it harder to get coverage.

Insurance 156
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California Imposes Additional Liability on Architects

Construction Lawyer

Skidmore, Owings & Merrill LLP , the California Supreme Court held that architects owe a duty of care to purchasers of condominium units and can be sued by those purchasers for design negligence. More insurance is one answer. contracts insurance litigation' In a recent case, Beacon Residential Community Association v.

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How to Step Up Your Game on Loss Control & Claims Management

Construction Business Owner

Achieving favorable terms in a hard property & casualty insurance market. One thing underwriters have made abundantly clear during this challenging renewal environment is that simply blasting a submission to multiple insurance carriers to find competitive pricing, will not produce the effective results it may have in the past.

Claims 156
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New Insurance Case: Georgia High Court Rules that Construction Defects Satisfy Commercial General Liability Policy’s ‘Occurrence’ Requirement

Construction Dive

2013) and joined a rapidly snowballing national trend by holding that defective construction work can be covered under the standard commercial general liability (CGL) policy as an “occurrence.” 2d , 2013 WL 3481555 (Ga. The homeowners alleged that the concrete foundations of their homes were improperly constructed.

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Landmark Contractor Licensing Case Limits Disgorgement Remedy in California

Construction and Infrastructure Law

Contractors performing work in California are required to be licensed by the California State License Board (“CSLB”). Contractors who perform work in California without being properly licensed are subject to a world of hurt, including civil and criminal penalties ( see, e.g., Cal. & Prof. Code §7065. & Prof.