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Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

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Construction quality management: Everything you need to know

Lets Build

A construction quality management plan should be drafted as a standard document, to be applied to all future projects. Drawing up a construction quality management plan will enable you and your staff to identify potential liabilities or risks, and implement techniques to mitigate them. Creating a plan.

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Errors and Omissions (E&O) Insurance Explained for Construction?

Levelset

While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss. Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves.

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PACE in Maryland is Not Keeping Pace

Green Building Law Update

In the event of a default, the amount in default (but not the entire principal of the PACE loan) is a liability that is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder acknowledgment of a PACE loan is required. the top 10% of a building).

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Construction Business Owner Blogs

Construction Business Owner

Beane didn’t achieve success by drafting players based on his emotional judgments or media-based hype. Public Exposure and Liability on Construction Sites. In fact, I often wonder how smaller construction businesses with tighter margins can compete with the gigantic firms who have unlimited resources. Wally Evans Blog. Recent Posts.

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3 Avoidable Headaches for Construction Project Managers [Webinar]

Autodesk Construction Cloud

Some of the top problems GCs face are three documentation processes that, while important for communication and liability, take time away from actually building. . Creating the submittal log . This puts GC’s in breach of contract, which can lead to costly rework, lawsuits, late delivery, or all three.

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Relationship between the designer and the contractor

Construction Business Owner

Many of the contractors immediately shot down the concept with the age old line of questioning that pertains to the architects’ inability to draft an affordably reproduced plan and a perceived desire to be the next Frank Lloyd Wright on a modest budget. Public Exposure and Liability on Construction Sites. Wally Evans Blog. August 2008.