Commercial Insurance Outlook: What to Expect in 2023
Here’s what contractors need to know as they budget for 2023 insurance.
Understand Agreements in Hold Harmless and Indemnity Provisions
Just because a contract provision is legal and insurable doesn’t mean it’s fair.
Insurance Rates: What to Expect in 2022
As insurance underwriters become more selective and add restrictive endorsements, contractors should negotiate terms before renewal or find a broker who understands
Joint Ventures…What Did I Agree To?
While joint ventures can be a good way to pursue a project, consider the risks.
CGL, Builders Risk Coverage and Exclusions When Construction Defects Cause Property Damage
When physical damage to property is caused by defects or defective work, do CGL and Builders Risk policies cover the damage? It depends…
The Insurance Market: What Contractors Can Expect in 2021
Due to increasing losses and poor investment returns, insurance rates for most lines are increasing, capacity is declining and underwriters are being selective on
The COVID-19 Pandemic: How Contractors Can Address Potential Liabilities
The coronavirus presents significant risks and potential losses and liabilities to contractors. Clear minds, common goals and an esprit de corps among project stakeholders
The Secret to Lowering the Experience Modification Rate
The experience modification can have a significant impact on a company’s operations and profitability. A culture of safety and good claims management practices
The Insured’s Responsibilities in the Event of a Claim
Timely reporting of claims is critically important on all lines of insurance coverage, although terms such as "occurrence" or "time" may not be defined in the policy.
Effective Risk Control Programs: How Does Yours Stack Up?
Successful companies invest heavily in risk control programs, which focus on safety, human resources and claims management. Here's how to know if a company's program
Hold Harmless and Indemnity Provisions: What Did I Agree to Do?
Indemnity provisions usually include a requirement to hold harmless and defend another party. Generally, the upstream party tries to shift risk to a downstream party.
Ready to Sell the Business: What Insurance Should the Buyer Be Required to Carry?
It’s important to make certain the liabilities arising out of the sale of a business are clearly understood by each party and that appropriate insurance is in
The Importance of Understanding Dispute Resolution Options
There are basically two ways to settle a dispute - have a judge, a jury or an arbitrator settle it or the parties can resolve the matter themselves. A mediator can
Owner-Controlled Insurance Programs: A Primer
OCIPs can lower project costs and can be a profit center for the developer or general contractor. However, everyone, including subcontractors, must understand coverage
Cyber Insurance: What Does It Cover and Why Is It Needed?
Data breaches, privacy violations and hacker-generated losses are on the rise and construction companies are not immune. The good news is that cyber insurance is