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

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

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

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

Pro Builder

OCTOBER 4, 2021

Risk of Cyberattacks. As predominantly small- and medium-size companies, home builders and trade contractors are especially vulnerable to cybersecurity issues, so it's important for them to understand the risks and take action to protect their companies. SVP Risk Services Division. PB: What should cyber risk training cover?

Risk 98

Risk Defense Organization Insurance 98

Levelset

SEPTEMBER 13, 2022

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. But who can actually file a claim against the contractor’s insurance? And what if the insurance won’t cover all or some of the costs? The day-to-day work of a contractor is rife with risk.

Insurance 52

Insurance Claims Liability Accidents 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. The Importance of Project Risk Planning. Workflow of Risk Planning. treating the risks.

Risk 59

Risk Plans Insurance Construction 59

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

Pro Builder

OCTOBER 4, 2021

Risk of Cyberattacks. As predominantly small- and medium-size companies, home builders and trade contractors are especially vulnerable to cybersecurity issues, so it's important for them to understand the risks and take action to protect themselves. SVP Risk Services Division. PB: What should cyber risk training cover?

Risk 97

Risk Defense Organization Insurance 97

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

CivilJungle

DECEMBER 21, 2021

Information of Construction Risk Management. Construction risk management is a long steep process, in which we have to calculate the all-possible risk and determine the process by which we can reduce this type of risk. Where we identify, analyze the risks and work over them. What Is Construction Risk Management ?

Risk 52

Risk Management Contractors Construction 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. 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

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

Pro Builder

FEBRUARY 18, 2022

Climate emergencies are becoming a major priority for homeowners in high-risk areas, especially after one of the most destructive years for severe weather on record in 2021. Severe weather events are becoming more common and more severe, threatening existing homes and leading to new considerations for prospective buyers in high-risk areas.

Insurance 52

Insurance United States Risk Environment 52

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? For manufacturers impacted by these events and facing recovery, the question is, should relocation be considered to avoid future disruption?

Risk 42

Risk Site Puerto Rico California 42

Construction Marketing

SEPTEMBER 24, 2015

Insurance is perhaps the most important thing to arrange before starting a construction company. There are many different types of insurance in the United Kingdom. A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Business Plan. Legal Documents.

Documentation 120

Documentation Insurance Legal Liability 120

Construction Law

MARCH 1, 2024

News Our regular news round up includes a call from insurance companies for pilot projects to find investment models for green infrastructure; failure of another legal challenge to the Stonehenge project; and a warning that the new Building Safety Regulator is looking for a high profile prosecution to make a point.

Insurance 40

Insurance Claims Safety Legal 40

Construction Law Monitor

JANUARY 12, 2012

More and more in my everyday practice I encounter issues with contractor general liability insurance (GL). The bad thing is, that most think this is all they need to do in order to be “covered” in the event of a loss or occurrence. If you ever have a lawsuit filed against you put the insurer on notice immediately!

Insurance 64

Insurance Contractors Claims Legal 64

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

Pro Builder

OCTOBER 7, 2022

Americans are increasingly taking climate risks into consideration when relocating to a new housing market, especially in the wake of extreme weather events like Hurricane Ian. Homebuyers should always purchase flood insurance and invest in impact windows if they can.”. Fri, 10/07/2022 - 10:38. Environmental. Housing Markets.

Housing 52

Housing Zoning Tampa Risk 52

Safety Services Company

SEPTEMBER 29, 2020

Reaching a level of compliance in any Contractor Management Account requires commitment, attention to detail and some expert knowledge of safety and insurance requirements. Hiring clients are motivated to hire the safest contractors who meet their specific requirements and ultimately represent the lowest risk. Business Continuity.

Accounting 62

Accounting Management Contractors Safety 62

Contractor Connection

NOVEMBER 13, 2023

Temporary housing is a critical, yet often underappreciated, facet of the insurance and property management industries. Whether due to a natural calamity, fire, or another catastrophic event, policyholders sometimes find their primary residences uninhabitable. This can lead to long-term, mutually beneficial partnerships.

Housing 40

Housing Insurance Security Bidding 40

Construction Marketing

JANUARY 6, 2023

This means that should your security staff be running errands on-site or off-site, they will likely miss any security events detected on your security camera systems, making them less likely to spot and resolve a security threat in time. Your site is home to many valuable items, and an intruder on site could risk your workers’ safety.

Security 280

Security Site Mobility Construction 280

Construction Law

OCTOBER 3, 2023

Philip Bambagioti of 3PB examines the potentially fatal consequences of failure to build to prevent black mould forming in the event of water ingress. Appeal court decision shows risks of bespoke contract terms Cheryl Ferguson of Dentons UK and Middle East LLP provides a round up of recent decisions relating to adjudication.

Procurement 52

Procurement Construction Insurance Legal 52

BD+C

SEPTEMBER 26, 2024

Yet, its rising popularity poses questions about mass timber’s durability and its response to events during construction such as rain, storms, and humidity. Understanding client goals and budget constraints is a fundamental part of the planning process and risk reduction. Photo courtesy Skanska 5.

Plans 98

Plans Sustainability Risk Products 98

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. Work with your insurance provider.

Safety 52

Safety Site Injury Construction 52

Safety Services Company

DECEMBER 12, 2023

Prequalification can ensure contractors are capable, insured, and able to meet all the complex safety and performance requirements. Contractors are required to provide documentation such as: Financial statements Insurance certificates Safety plans Licensing information Training logs And more! Studies show that 3.6% on training.

Contractors 58

Contractors Safety Certification Injury 58

Pro Builder

AUGUST 26, 2020

I've never seen anything like this," says Randall Bell, CEO of Landmark Research Group, which analyzes real estate after cataclysmic events. The pandemic itself adds another level of health risk to every interaction, and more delays at every step. We're always busy [with natural disasters]. This is just overload. Read More.

Housing 52

Housing Resource Risk Insurance 52

Green Building Law Update

SEPTEMBER 4, 2016

FEMA is specifically proposing to amend 44 CFR part 9 “Floodplain Management and Protection of Wetlands” and issue a supplementary policy to implement the Federal Flood Risk Management Standard that was established by Executive Order 13690. A 100 year flood is a flood event that has a 1% probability of occurring in any given year. (In

Regulation 195

Regulation Zoning Insurance Maryland 195

Constructlaw

DECEMBER 7, 2020

Mealey’s International Arbitration Report recently asked industry experts and leaders for their thoughts on what events had an impact on global economy that have led to an increase in filings. Mealey’s: What, if any, events had an impact on the global economy that have led to increased filings? All rights reserved.].

Claims 40

Claims Insurance Bankruptcy Legal 40

Levelset

AUGUST 16, 2022

However, larger projects come with greater risks and additional challenges. Large, multi-year projects are also more likely to face risks from potential economic changes, supply chain issues, and other unforeseen pressures that can threaten them. GCs can also purchase subcontractor default insurance to reduce this risk.

Risk 52

Risk Cash Flow Construction Banking 52

Pro Builder

AUGUST 4, 2021

We are working to ensure that new regulations designed to improve the nation’s housing resiliency are focused on the highest risk areas and structures, are based on sound scientific data, rely on a clear methodology, and consider financial and administrative impacts—factors that affect housing affordability. 8-10, 2022.

NAHB 98

NAHB Resource Remodeling Housing 98

Fieldwire

MARCH 5, 2024

Calculate labor costs Labor costs include worker wages, taxes, insurance premiums, retirement contributions, vacation and sick leaves, and union dues. Determine indirect expenses You must estimate insurance, bonds, indirect field expenses and overhead costs. These expenses multiply for every extra person you have on staff.

Budgeting 52

Budgeting Budget Estimating Bidding 52

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.

Safety 72

Safety Resource Injury Construction 72

Construction Law

MARCH 2, 2022

Alternative ways of bringing in the funds available from lenders like insurance companies and pension funds were being sought and various proposals involving hybrid public/private partnership type arrangements mooted. But it looks like little has emerged yet as a serious replacement for PFI.

Finance 52

Finance Transportation Commercial Infrastructure 52

Fieldwire

JULY 20, 2022

Managing Safety Hazards and Risks. Faulty equipment leads to major accidents - don’t take the risk. Warranties, like insurance, can cover replacement components and other equipment concerns. Furthermore, just like insurance, those benefits are contingent on equipment being maintained on a regular basis.

Management 52

Management Equipment Inspections Construction 52