Levelset

MAY 23, 2022

As a contractor, you may have realized that taking care of every detail will not be enough as there are always going to be risks associated with your work. One way to help protect yourself from some of these perils is by having business interruption insurance for construction. What does business interruption insurance cover ?

Insurance 97

Insurance Contractors Construction Claims 97

Construction Enquirer

JULY 6, 2023

Grenfell contractor Rydon has revealed a provision of £26.7m Rydon said its settlement is being covered by its insurers. The civil claim is separate to the public inquiry into the fire, which finished taking evidence in November 2022 and is expected to issue its final report later this year.

Claims 131

Claims Profitability Maine Insurance 131

Construction Law Monitor

SEPTEMBER 4, 2011

Contractors and property owners should be very knowledgable of the claims process after a natural disaster. Your insurer will assign a claims specialist to assess the damage and this person is who you will work with to obtain reimbursement. The final step is to hire an attorney to escalate your claim.

Insurance 62

Insurance Claims Louisiana Guidelines 62

Construction Marketing

JULY 11, 2022

If you want to be a contractor, being licensed and bonded will have a major impact on your ability to work in the city and state where you live and work. Many state and local governments require that contractors who perform work above a threshold amount obtain licenses. What Are Surety Bonds? Bond Types.

Contractors 156

Contractors Legal Bidding Contract 156

Levelset

SEPTEMBER 14, 2022

Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.

Insurance 98

Insurance Liability Claims Injury 98

Constructonomics

OCTOBER 3, 2010

New contractors have a lot of matters to anticipate when entering the construction industry for the first time. Unfortunately, new contractors are often unfamiliar with the bonding process, which includes undergoing finance and credit checks, providing upfront collateral, and paying issuance fees. How construction bonds work.

Contractors 140

Contractors Regulation Insurance Claims 140

Wolgast Corporation

AUGUST 1, 2024

I chose to discuss Insurance Claims in this blog because when the time comes, some business owners have never been through the process and may not know what to expect. The number one tip that I can give you is to call your insurance company in all circumstances (after you call the emergency services if necessary, of course).

Insurance 62

Insurance Claims Commercial Accidents 62

Construction Law Monitor

JANUARY 12, 2012

More and more in my everyday practice I encounter issues with contractor general liability insurance (GL). Whether I am defending a contractor or going after one, there tend to be issues with GL carriers. Here are some tips on coverage and others for contractors who have issues.

Insurance 64

Insurance Contractors Claims Legal 64

ENR Construction

NOVEMBER 26, 2024

Insurers have resorted to racketeering statutes in recent years to combat alleged fraud.

Insurance 73

Insurance New York Injury Claims 73

Levelset

MARCH 21, 2022

Restoration contractors can spend a lot of time waiting for payment. Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. Contractors need to ensure that owners know that they are financially responsible for mitigation and restoration costs.

Cash Flow 98

Cash Flow Insurance Lien Management 98

ENR Construction

DECEMBER 4, 2024

After dismissing the case, the judge said he didn't want to rule on whether the insurers might have a liability claim against Zachry Group, McDermott and Chiyoda under other provisions of the contract.

Insurance 69

Insurance Liability Texas Claims 69

Construction Enquirer

JUNE 22, 2023

HM Revenue & Customs is turning the spotlight on claims for rising materials costs under the industry’s CIS tax scheme. Experts are warning that contractors who engage scaffolders are a particular target for attention from the tax authorities. ” . ”

Claims 100

Claims Materials Subcontracting Contractors 100

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. Contractor liability for property damage.

Insurance 52

Insurance Claims Liability Accidents 52

Contractor Bookkeeping

MAY 10, 2024

Managing a hectic schedule and complex projects can be challenging if you're a contractor. This is a mark of professionalism and can also help if you have an insurance or legal claim. You must also ensure that your paperwork, documents, and contracts are in order.

Documentation 120

Documentation Insurance Legal Claims 120

Levelset

APRIL 28, 2022

In recent years, inflation, supply chain issues, and labor shortages have only increased the likelihood of project delays, performance issues, and contractor default. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC.

Insurance 52

Insurance Contractors Claims ABC 52

HardHatChat

OCTOBER 31, 2017

One reminder we always give clients is that if damage to a commercial facility is significant enough to make an insurance claim, they should always have their insurance company come out to document the damage before making any repairs. Board up windows and doors.

Commercial 207

Commercial Plans Puerto Rico Florida 207

Construction Law Monitor

DECEMBER 27, 2012

Back in 2009 this blog reported on the very topic of Workers Compensation insurance, stating that 1 and 5 businesses are breaking workers compensation laws. The main reason being is due to the exorbitant price of this insurance on contractors. Workers Compensation is codified in Louisiana under Revised Statute 23:1021 et seq.

Compensation 51

Compensation Insurance Louisiana Contractors 51

Construction Law Monitor

SEPTEMBER 17, 2012

According to a recent Press Release from Marsh , a leader in insurance broking and risk management, construction firms across the U.S. Insurance rates have been declining for close to a decade, but rates are forecasted to increase between 8 and 10 percent. Being insured is a major expense in all construction companies.

Insurance 63

Insurance Construction Forecasting Claims 63

Construction Junkie

JULY 27, 2020

Well, now at least one insurance company believes that, as well. Procore’s platform can help contractors avoid many costly losses and delays through effective risk management and cross-team collaboration,” said Lisa Morgan, President of Construction at Travelers. Announced today, The Travelers Companies, Inc.

ProCore 83

ProCore Travel Insurance North Carolina 83

Construction Dive

FEBRUARY 12, 2014

By Bruce Jervis Commercial general liability (CGL) insurance policies have been the source of much controversy in the construction industry. The policies insure against personal injury or property damage caused by an occurrence during the contractor’s performance of the work. Insurers certainly don’t intend them to.

Insurance 56

Insurance Contractors Liability Injury 56

Construction Business Owner

JUNE 17, 2015

The contractor said, "There's been an accident; two of our workers are dead." Finally, his insurance broker would mobilize its claims, safety and risk management personnel to assist after these men prematurely lost their lives. It was 1 a.m. on a night several years ago when a client called with horrific news.

Safety 120

Safety Accidents OSHA Zoning 120

Best Practices Construction Law

FEBRUARY 25, 2014

Well, in a recent construction dispute in Maryland, “the Man” was the owner’s insurance company. Accordingly, the joint venture could not claim reimbursement under the policies. The construction manager was a joint venture between Perinit Building Company and Turner Construction Company (the “Contractor”).

Insurance 59

Insurance Maryland Claims Construction 59

Levelset

JUNE 3, 2022

Construction contractors face potential loss with each project they take on. When a loss occurs, it can put a real crunch on a contractor’s cash flow. Project loss insurance has the potential to save contractors from devastating project losses, no matter the cause. It also helps contractors manage cash flow during a loss.

Insurance 52

Insurance Cash Flow Claims Contractors 52

Construction Dive

MARCH 5, 2014

Court of Appeals has ruled that the commercial general liability (CGL) insurer of a named insured subcontractor had no duty to defend an additional insured general contractor in a project owner’s post-completion breach-of-contract suit for construction defects arising from the subcontractor’s work on a condominium project.

Insurance 56

Insurance Contract Liability Contractors 56

Levelset

SEPTEMBER 23, 2022

General contractors know these risks when they take the role. Luckily, that’s what insurance is for, right? But what if the general contractor isn’t at fault, and a subcontractor is to blame? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? General liability insurance.

Insurance 52

Insurance Liability Accidents Risk 52

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

ENR Construction

SEPTEMBER 13, 2022

Did the contractor's master policy cover the damage?

Insurance 66

Insurance Claims Risk Contractors 66

Building Radar

JULY 15, 2024

Navigating the insurance requirements for construction projects can be daunting. Insurance plays a crucial role in managing risks and ensuring the successful completion of any construction project. It covers bodily injury, property damage, and personal injury claims that arise during the course of a project.

Insurance 52

Insurance Liability Construction Risk 52

Mr Ethics

APRIL 23, 2014

Ethics, There seems to be a growing trend in the construction industry whereby project owners are placing all risk on the design professional or contractor. Lastly, owners are insisting on being listed as additional named insureds on policies. That is the way claims are controlled and in some cases prevented.

Risk 100

Risk Claims Insurance Liability 100

Mr Ethics

APRIL 23, 2014

Ethics, There seems to be a growing trend in the construction industry whereby project owners are placing all risk on the design professional or contractor. Lastly, owners are insisting on being listed as additional named insureds on policies. That is the way claims are controlled and in some cases prevented.

Risk 100

Risk Claims Insurance Liability 100

Mr Ethics

APRIL 23, 2014

Ethics, There seems to be a growing trend in the construction industry whereby project owners are placing all risk on the design professional or contractor. Lastly, owners are insisting on being listed as additional named insureds on policies. That is the way claims are controlled and in some cases prevented.

Risk 100

Risk Claims Insurance Liability 100

Levelset

SEPTEMBER 7, 2022

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. For instance, a plumber who fails to properly lay a pipe could cause water damage that leads to an expensive repair for the general contractor.

Liability 52

Liability Insurance Injury Contract 52

Levelset

SEPTEMBER 2, 2022

Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.

Insurance 52

Insurance Liability Claims Injury 52

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?

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

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. Related: 9 Common Insurance Policies in Construction. Why a certificate of insurance matters.

Insurance 52

Insurance Certification Contractors Liability 52

Levelset

SEPTEMBER 30, 2022

Insurance is one part of a strategy to keep your carpentry business financially healthy. To minimize any financial damage, a comprehensive carpenter’s insurance plan is a smart bet. . What is carpenter insurance? Does a carpenter need insurance? Insurance serves another purpose.

Insurance 52

Insurance Liability Accidents Injury 52