Construction Business Owner

JUNE 27, 2024

Water damage has long been one of the most common insurance claims in the industry, and it now accounts for up to one-third of all payouts on builder’s risk policies. The cost of those payouts has been rising steeply for several years, and insurers have consequently taken severe steps to mitigate their risks.

Insurance 316

Insurance Risk Claims Accounting 316

Construction Business Owner

DECEMBER 5, 2014

Throughout the last decade, the construction industry has spawned an entirely new black market industry—construction theft. According to the National Insurance Crime Bureau, as much as $1 billion in construction tools, equipment and materials is stolen nationwide each year, 90 percent of which is taken directly from construction sites.

Security 273

Security Risk Insurance Equipment 273

Construction Marketing

OCTOBER 19, 2021

Having snow removal insurance is important, considering the risks and dangers of snow removal and deicing. This article will show you the things you need to know about snow removal insurance. . What Is Snow Removal Insurance? But snow removal insurance is different from commercial general liability insurance.

Insurance 201

Insurance Legal Compensation Injury 201

Construction Business Owner

MAY 30, 2013

The cost of theft in the construction industry is estimated to be a billion dollars by the National Insurance Crime Bureau. Unsecured equipment and materials are especially at risk. Additionally, heavy equipment owners can’t rely entirely on insurance to offset the cost of theft.

Insurance 304

Insurance Equipment Estimating Risk 304

Construction Business Owner

APRIL 5, 2021

The still-evolving circumstances of the COVID-19 pandemic paired with construction’s already demanding work environment has the industry operating at the height of caution and risk management. But for business owners, now is as crucial a time as ever to assess some of the more familiar pillars of protection: insurance.

Risk 334

Risk Insurance Safety Environment 334

Construction Business Owner

FEBRUARY 3, 2025

This trend has put any construction company that does not use best-in-class safety practices at the risk of being put out of business. A plaintiffs attorney in post-crash litigation can claim negligence if there is any failure to follow policies, procedures, or reasonable practices that find, coach, and remediate high-risk behavior.

Safety 194

Safety United States Risk Regulation 194

Construction Business Owner

DECEMBER 21, 2012

Insights from the International Risk Management Institute’s annual conference.

Risk 149

Risk Insurance Conference Industrial 149

Construction Business Owner

OCTOBER 1, 2024

How Dash Cams Help Your Construction Company Because Hazards for Construction Companies Aren’t Just on the Jobsite mhodges Tue, 10/01/2024 - 15:26 In a typical group of employees who drive company vehicles, 15 to 20 percent of them will represent 80 percent of the risk. In a recent J.

Accidents 367

Accidents Construction Insurance Risk 367

Construction Marketing

DECEMBER 27, 2021

As a contractor, you likely know that your business is always at risk. Between the potential for accidents and injuries on the job site and the risk of lawsuits, it’s important to have insurance to protect yourself from financial losses, but what kind of insurance do you need? General Liability Insurance.

Insurance 156

Insurance Contractors Accidents Liability 156

Safety Services Company

JANUARY 31, 2025

The supply chain industry is rapidly evolving, making effective supply chain risk management solutions more critical than ever. If youve been keeping an eye on recent industry developments, youve probably seen that Achilles Information Ltd recently acquired Global Risk Management Solutions (GRMS).

Risk 62

Risk Management Safety Contractors 62

Construction Business Owner

JANUARY 12, 2017

Currently, the construction insurance marketplace, excluding health insurance, proves to be a favorable environment for the insurance buyer.

Risk 120

Risk Insurance Negotiation Commercial 120

Viewpoint Construction Technology

AUGUST 8, 2012

Whether you're new to the construction industry or have been working in it for decades, you've probably realized that getting a surety bond can be confusing. To help make the process quicker and easier, this article will outline six steps that will make you more confident when purchasing this special type of risk mitigation insurance.

Insurance 236

Insurance Contractors Risk Industrial 236

Construction Business Owner

NOVEMBER 15, 2016

Last week, the International Risk Management Institute (IRMI) hosted its 36th Construction Risk Conference in Orlando, Florida. The conference featured three general sessions and 27 seminars presented by more than 60 nationally recognized insurance, risk management, safety and surety experts.

Conference 120

Conference Risk Roads Insurance 120

Construction Business Owner

SEPTEMBER 27, 2013

One risk facing the construction industry is liability for defects in a company’s work.

Insurance 153

Insurance Liability Residential Commercial 153

Autodesk Construction Cloud

SEPTEMBER 13, 2022

As with every industry, everything ultimately boils down to the bottom line. However, the industry is at a pressure point and unfortunately, the unexpected is one of the few things companies can expect. So how can companies optimize for their bottom line without putting their businesses at risk? . million in avoidable rework.

Autodesk 105

Autodesk Risk Industrial Construction 105

Lets Build

JUNE 6, 2017

There is a number of parameters that you should think about and an efficient management of the risk is surely necessary. In other words, you can’t really define risk on the exact same way in every construction project. Even within the same project, there may be distinct sources of risk. Types of risk in construction.

Risk 165

Risk Management Construction Legal 165

Construction Business Owner

DECEMBER 4, 2023

Project Protection 101: Exclusive Insights for Cost Challenges PCF Construction offers insight on current market construction risks, and how to take control. Project Protection 101: Exclusive Insights for Cost Challenges PCF Construction offers insight on current market construction risks, and how to take control.

Insurance 156

Insurance Risk Security Contractors 156

Construction Law

MARCH 1, 2021

Insurance has never felt cheap to companies in the construction sector, although many or most of them never took the sort of risk management measures highlighted in our regular insurance articles, so to a large extent often had only themselves to blame if they were paying higher premiums than they need have.

Insurance 97

Insurance Risk Industrial Plans 97

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. Owners are assuming less and less risk exposure through contract provisions that assign risk away from them. This isn’t ethical, is it? Regards, Mr. Ethics

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. Owners are assuming less and less risk exposure through contract provisions that assign risk away from them. This isn’t ethical, is it? Regards, Mr. Ethics

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. Owners are assuming less and less risk exposure through contract provisions that assign risk away from them. This isn’t ethical, is it? Regards, Mr. Ethics'

Risk 100

Risk Claims Insurance Liability 100

Construction Business Owner

DECEMBER 1, 2016

The International Risk Management Institute Inc., now known throughout the industry as IRMI, was founded in 1978 with the main purpose of providing education, by way of seminar and print publication, to risk managers, insurance agents/brokers, underwriters and other insurance professionals.

Security 136

Security Insurance Risk Education 136

Constructonomics

MARCH 23, 2010

After spending fifteen excruciating minutes scouring the web in search of details on the recently passed Heathcare Bill, I’ve re alized that it is very difficult to nail down exactly what the changes are and how they will affect the working World and specifically the construction industry. And most people are not. Tell Your Friends.

Industrial 115

Industrial Insurance Employment Construction 115

Construction Business Owner

APRIL 5, 2012

INSURANCE |. Industry News. Industry Statistics. Green Construction & Construction Software » The Business of Construction Risk Management. With every project, no matter how big or small, there is always risk – risk of injury, financial responsibility, or quality assurance. STRATEGY |. SOFTWARE |.

Risk 120

Risk Insurance Construction Software 120

Construction Marketing

FEBRUARY 20, 2023

Make sure you know your stuff when it comes to project planning and risk assessment so that everyone knows what’s expected of them. Don’t forget that cultivating relationships with clients is essential in this industry. For every business, having really effective management practices is an absolute must.

Construction 311

Construction Risk Management Resource 311

Construction Business Owner

DECEMBER 19, 2013

Since the creation of Subcontractor Default Insurance (SDI) in 1995, contractors have developed many informed and uninformed perspectives about this insurance product and how it functions. Multiple insurance carriers now widely use and offer SDI as a risk management tool to secure subcontractor performance.'

Insurance 120

Insurance Security Risk Products 120

Construction Business Owner

DECEMBER 6, 2011

INSURANCE |. Industry News. Industry Statistics. In running a business, there must always be a certain amount of risk that you’re willing to take. Risk is healthy; it keeps things fresh and gives you the opportunity to evolve. I took a risk in 2005 and dressed up as Superman for a marketing campaign.

Construction 195

Construction Software Software Accounting 195

Green Building Law Update

DECEMBER 1, 2011

Surety bonds are often misunderstood within the green building industry. Entitled Keys to Managing Green Construction Risks, Liability and Litigation , this program will focus on the key concerns and solutions to the ever changing green construction culture.

Green 159

Green Liability Legal Risk 159

Job Order Contracting

FEBRUARY 7, 2020

A construction cost audit and associated checklist are important risk management and LEAN construction planning, procurement, and project delivery tools. Auditors should engage experienced construction professionals to be able to optimally apply industry best management and financial practices.

Construction 226

Construction Procurement Documentation CSI 226

Constructonomics

SEPTEMBER 9, 2016

Every industry is being affected by what is happening, but is having an especially big impact on the construction sector. The insurance industry believes that the cost could be even higher than that. In the meantime, the construction industry is doing its best to provide protection for the buildings that they are working on.

Industrial 100

Industrial Construction Insurance Commercial 100

FDR Safety

JANUARY 7, 2014

The company appealed and the matter was heard by a hearing officer for the state Board of Industrial Insurance Appeals. Among the reasons: G4S had reduced the risk of injury to bank guards by training them to avoid engaging with criminals. That assessment found that bullet proof vests were not required for bank guards.

Employment 168

Employment OSHA Banking Washington 168

FDR Safety

JANUARY 3, 2013

In 2013, you can be assured that the continuing effects of the two-year-old Compliance, Safety, Accountability (CSA) program on the trucking industry and commercial drivers will remain high on both the government and industry list of issues demanding attention.

Industrial 120

Industrial DOT Safety Accidents 120

Contractor Connection

FEBRUARY 2, 2025

For carriers, brokers, risk managers and adjusters this is not just a claim, it is a race against time. In the simplest terms, a commercial MRP is a nationwide network of contractors specializing in managed insurance claim repairs, providing simplicity and strong accountability for all parties involved. 3,000+ U.S.

Commercial 52

Commercial Claims Management Insurance 52

Construction Law Monitor

JANUARY 12, 2012

More and more in my everyday practice I encounter issues with contractor general liability insurance (GL). Next, the most important and most often overlooked aspect is notifying the insurer when trouble starts. If you ever have a lawsuit filed against you put the insurer on notice immediately!

Insurance 64

Insurance Contractors Claims Legal 64

Green Building Law Update

APRIL 4, 2021

The financial value of green buildings is well documented, from commanding higher rents, greater occupancy rates, and increased occupant satisfaction, to lower operating costs for everything from reduced insurance premiums and less energy utilized, easily resulting in an increased return on investment of more than 9% over conventional building.

Green 293

Green Debt Security Commercial 293

Building Radar

DECEMBER 10, 2024

Effective financial management in construction projects is crucial for ensuring profitability and sustainability in a highly competitive industry. Utilizing financial planning in the construction industry helps in forecasting and mitigating risks. Proper financial management minimizes risks and maximizes returns on investment.

Cash Flow 52

Cash Flow Management Construction Budgeting 52

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. For more details on CGL insurance, visit Construction Coverage.

Insurance 52

Insurance Liability Construction Risk 52