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No matter whether it is designed to protect owners, architects, engineers or general contractors, the securing of project professional liability coverage can be complicated. Professional liability exposure exists for the construction period plus the applicable Statute of Repose, often meaning a total of 10 or more years.
This complexity makes it more critical than ever to work with a construction-dedicated broker who possesses the industry experience and insights needed to secure the right insurance coverage, both in terms of protection and cost-effectiveness.
That improved balance sheet for green buildings translates directly into green buildings having over 30% fewer commercial mortgage backed securities defaults. There is no underwriting justification for lenders charging the same interest rates on mortgages secured by green buildings. Today there is a nascent (.
Insurance, liability, and workers’ compensation . Limited liability company (LLC) . Protect your business by securing permits and licenses. Start with General Liability Insurance and the Workers’ Compensation Insurance. . However, you’ll later require a bigger location for your business. Labor costs.
By way of background, a Phase I environmental site assessment is the process of evaluating a property’s environmental conditions and assessing potential liability for contamination. History says, ‘see you later.’”. And in another blog post last month, I wrote, I Just Read my 1000 th Phase I Environmental Site Assessment this Year.
piece fell off the fixture because it wasn’t secured A rigger who pulled a stabilizing pin and an I beam slid off onto his foot A journeyman millwright who was under a 7500 lb. In some cases OSHA is involved and in others, there is a civil suit alleging tort liability. Cases like this leave us asking “what can be done?”. be hazardous?
piece fell off the fixture because it wasn’t secured A rigger who pulled a stabilizing pin and an I beam slid off onto his foot A journeyman millwright who was under a 7500 lb. In some cases OSHA is involved and in others, there is a civil suit alleging tort liability. Cases like this leave us asking “what can be done?”. be hazardous?
By Greg Schreiber Physical security retrofit is not as simple as it used to be. With today’s health compliance mandates and growing social upheaval, physical security upgrades must transcend previous technologies which only focused on minimizing organizational risks in corporate office buildings. Photos courtesy Boon Edam.
A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Although public liability insurance is not a legal requirement, it should be regarded as essential. A business plan can pinpoint sales and forecasted revenue, and is necessary in securing finance from lenders.
Just the opposite, traditional contractual incentives, such as liquidated damages and performance security, provide only negative incentives to ensure compliance with minimum requirements. The post Collaborative Construction Solution – Public Sector appeared first on 4BT.
Because of this complexity, it’s even more critical than ever to ensure you’re working with an insurance broker who possesses the industry experience and insights needed to secure the right coverage for your project, both in terms of protection and cost-effectiveness.
The Securities and Exchange Commission (SEC) proposal to require that public companies disclose climate-related information. The proposed rules contain a “safe harbor” for liability for Scope 3 emissions disclosure. ISO14064 Boundaries. Organizational. Equity share. Operational. Direct GHG emissions and removals. GHG/SEC Reporting.
So it’s no surprise that whenever I talk to companies about how they store their data, the number one concern I hear is in regards to security. According to Eric, most of his clients have “far humbler” security checkpoints than what a data center can offer. Today’s Cloud Security. General Management. Software & Technology.
“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. General liability insurance. For example, assume you paint residential structures of all types.
Turn Construction Data into Business Answers » Data Security in the Cloud. People I’ve talked to say it’s because they’re unsure of the security surrounding their business data. Security is whatever the local IT department decides is adequate. Security in these environments is very tight. General Management.
However, unlike other industries, healthcare providers face a number of unique and challenging security issues. Implementing modern access control systems in the MOB environment can mitigate these concerns while offering an array of additional benefits that extend beyond mere security.
« Public Exposure and Liability on Construction Sites. But this raises other concerns, security usually topping the list. With good administration and strong encryption, web-based storage can be made just as secure as your own company system. Public Exposure and Liability on Construction Sites. General Management.
Silos: Great for Grain, Not so Great for Business » Choosing a Cloud Host: Data Security. One key issue to consider is data security. Onsite Hosting and Security. However, is your data really more secure at your business? Public Exposure and Liability on Construction Sites. General Management. Green Building.
Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Like the Quick Ratio, Current Ratio measures a company’s ability to pay off its short-term liabilities with its current assets. Formula: Current Assets / Liabilities . Formula: Total Liabilities / Total Assets .
With growing scrutiny on job site dangers and liability concerns, prioritizing safety is crucial in sustaining a competitive edge. A Good Safety Record Presents You as a Lower Risk Liability Contractors frequently operate in risky and hazardous environments. Your safety and compliance track record. Let’s look at why that is.
Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Industry News.
Geographically secure data backup. And last, but not least…Security. Security may be your number one concern when choosing your hosting solution. Previously I discussed the relative security of cloud computing solutions. Previously I discussed the relative security of cloud computing solutions. General Management.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” But what makes Skanska interesting is that the court took pains to distance itself from an earlier Michigan decision, Hawkeye-Security Ins.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
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.
Whether its financial stability, geopolitical risks, or compliance gaps, youll have access to proactive alerts for mitigating these risks before they become liabilities. Simplified Supplier Onboarding Say goodbye to manual processes that drain time and resources. And its not just about playing defense.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
They do it faster and with greater security than spreadsheets. Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center.
Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
Malicious cyberattacks could impact project designs, bid data, and security system information involved in architectural proposals. Maintain copies of your sensitive or proprietary data in a separate and secure location, preferably offline or with a trusted cloud solution. . Ensure your anti-virus software is updated. .
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
The concept is not new, but nationally, residential PACE programs generally have been put on hold or foregone as a result of concerns of HUD and the Federal Home Loan Banks, that issued a directive in February 2011 to refrain from purchasing mortgage loans secured by properties with outstanding first lien PACE obligations.
In the event of a default, the liability is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent is required. There were not similar concerns expressed about commercial loans. Commercial PACE programs are still very new.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Public Exposure and Liability on Construction Sites. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Resource Center. Equipment and Services Directory. Ask the Expert. Hardhat Connect.
Working capital measures the difference between a construction company’s current assets and current liabilities. Businesses whose assets (like cash, accounts receivable, inventory, or materials) exceed the value of their liabilities (like wages, debts, vendor payments, or overhead costs) have working capital to use to maintain or grow.
If the construction company fails to keep the site safe, they could face liability. Negligence in securing equipment, particularly when it’s dangling from ladders, beams, or other surfaces. The essentials are to secure tools and equipment, donning protective gear, and properly stocking materials.
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