Construction Business Owner

OCTOBER 27, 2016

Part of an effective risk management program involves monitoring the industry and economic trends that could affect your business. Cal Beyer is the director of risk management at Lakeside Industries in Issaquah, Washington.

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Risk Management Insurance Washington 273

The Constructor

MARCH 18, 2023

As a construction business owner, taking the necessary steps to protect your projects from potential risks is key to achieving long-term success. Insuring your projects is one of the most important steps you can take to safeguard them. This article discusses 10 reasons why insuring your construction projects is a must.

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Insurance Construction Risk 263

Construction Business Owner

JULY 6, 2016

As the United States construction market heats up, there is a renewed focus on improving operational efficiencies and embracing risk management strategies that could offer a meaningful financial impact.

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Insurance United States Risk Management 223

Construction Business Owner

JULY 6, 2016

As the United States construction market heats up, there is a renewed focus on improving operational efficiencies and embracing risk management strategies that could offer a meaningful financial impact.

Insurance 223

Insurance United States Risk Management 223

Construction Business Owner

JUNE 21, 2016

There are numerous ways that contract parties can shift the risk of certain types of losses between each other. One approach is to require one party to list the other, protected party as an additional insured on its own purchased insurance policies, thereby giving the protected party direct access to insurance coverage.

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Insurance Liability Agreement Risk 195

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.

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Insurance Legal Compensation Injury 201

Construction Business Owner

JANUARY 15, 2017

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

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Risk Insurance Negotiation Commercial 208

Construction Business Owner

MAY 2, 2018

There are many questions concerning the insurance and surety marketplace for construction in the United States in 2018. Will auto insurance rates continue to increase? How will the aftermath of Hurricanes Harvey, Irma and Maria affect insurance rates? What should construction companies budget for builder’s risk insurance?

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Risk Insurance United States Budgeting 213

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.

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Insurance Risk Claims Accounting 316

Construction Business Owner

APRIL 30, 2013

For some construction management firms, subcontractor default insurance policies offer a viable alternative to performance bonds. These policies are designed for the “at risk” construction manager (CM), general building contractor and design-build firm with an annual subcontract volume of $75 million or more.

Insurance 185

Insurance Subcontracting Procurement Risk 185

Construction Business Owner

DECEMBER 5, 2014

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. Throughout the last decade, the construction industry has spawned an entirely new black market industry—construction theft.

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Security Risk Insurance Equipment 273

Construction Business Owner

FEBRUARY 5, 2025

Lower Insurance Costs: A strong safety record can lower your insurance premiums and improve your bottom line. One of the biggest risks in construction projects is labor disputes, which can cause costly work stoppages and delays. Labor Peace and Stability.

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Union Safety Resource Industrial 293

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.

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Accidents Construction Insurance Risk 367

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. Equipment Keys.'

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Insurance Equipment Estimating Risk 304

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.

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Safety United States Risk Regulation 194

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.

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Risk Insurance Safety Environment 334

Construction Business Owner

OCTOBER 26, 2012

You have probably been hearing more about the concept of cyber liability from your insurance broker. Your construction firm is not likely selling products or services over the Internet, so you may be wondering why you would need cyber liability insurance. Consider some examples from high-profiles companies.

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Risk Liability Insurance Tennessee 204

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.

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Insurance Contractors Accidents Liability 156

Construction Business Owner

NOVEMBER 21, 2014

Cyber insurance aims to help mitigate losses from a wide variety of cyber and electronic intrusions, such as data breaches, business interruption and network damage caused by virus or malware. By alleviating or limiting a wide range of risks, this flexible and customizable tool can help improve prevention practices.'

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Insurance Liability Risk 166

Construction Law

MARCH 4, 2025

Insurance expert John D Wright of JD Risk Associates looks at the insurance cover available for losses incurred during catastrophes, which are on the rise due to climate change. Some risks are already uninsurable, he warns. This story is only available to subscribers to the printed edition of Construction Law.

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Insurance Risk Construction 40

Construction Business Owner

OCTOBER 14, 2015

General contractors, subcontractors and business owners risk substantial financial loss if they enter into contracts that are not supported by their insurance program.

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Insurance Liability Risk Contract 120

Safety Services Company

APRIL 8, 2025

OSHA fines, liability risks, and potential harm to team members are major concernsand all of these issues can often be traced back to insufficient safety training or poorly implemented safety programs. Consider project delays, legal battles, insurance rate increases, and the damage done to your companys reputation.

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OSHA Safety Risk Mobility 82

Job Order Contracting

MARCH 1, 2022

General / Prime Contractor Profit and risk. General insurances. Workmen’s compensations insurance. State unemployment insurance. Federal unemployment insurance. Payment Bond premium(s) (please note that Payment Bonds are required for task order. projects valued over $35K; 9. Social security contributions.

Insurance 264

Insurance Compensation Overhead Security 264

Viewpoint Construction Technology

AUGUST 18, 2017

The right integrated business software solution can provide you with that information and minimize your risk on a daily basis. Let’s say a subcontractor’s insurance has expired. With the right integrated software system, you are alerted if the insurance is not up-to-date. Don’t take risks with your company.

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Software Software Risk Insurance 130

Construction Business Owner

MAY 9, 2017

Cyber insurance generally covers the risks of loss from system breaches, data losses and other wrongful acts of rogue employees or outside hackers. Coverage can be specifically crafted to the specific needs of your business, but common coverages often include:

Insurance 136

Insurance Risk 136

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

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).

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Risk Management Safety Contractors 62

Construction Business Owner

MAY 5, 2017

Cyber insurance generally covers the risks of loss from system breaches, data losses and other wrongful acts of rogue employees or outside hackers. Coverage can be specifically crafted to the specific needs of your business, but common coverages often include:

Insurance 120

Insurance Risk 120

Construction Business Owner

DECEMBER 20, 2020

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. Risk Management.

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Insurance Virgin Islands Puerto Rico Alabama 156

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.

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Risk Management Construction Legal 165

Construction Business Owner

APRIL 26, 2016

The work that contractors perform carries with it inherent risks that, if unaccounted for, have the potential to result in significant financial and physical harm to both the contractor and the party for whom the contractor is working.

Insurance 120

Insurance Risk Contractors 120

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.

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Conference Risk Roads Insurance 120

Construction Dive

DECEMBER 11, 2023

Projects built with wood pose increased risk and it is becoming increasingly important in today’s insurance market that contractors understand the landscape.

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Insurance Risk Contractors 89

Construction Dive

NOVEMBER 26, 2018

Every business, small or large, that embarks on a construction project needs builder's risk insurance because it typically covers things that property and liability policies don't, legal experts say.

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Risk Liability Insurance Legal 127

Construction Business Owner

SEPTEMBER 27, 2013

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

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Insurance Liability Residential Commercial 153

Viewpoint Construction Technology

AUGUST 8, 2012

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. 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.

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Insurance Contractors Risk Industrial 236

Safety Services Company

DECEMBER 31, 2024

It standardizes contractor management and ensures contractors meet specific safety, insurance, and compliance expectations for hiring clients. Insurance Documentation: Submit certificates of insurance (COI) with precise wording and coverage mandated by Mohawk Industries. Not sure where to start?

Industrial 126

Industrial Contractors Insurance Safety 126