Executive Insights 2024: Leaders in Surety Bonding
By Construction Executive
November 14, 2024
IN AN UNCERTAIN ECONOMY, WHY IS IT IMPORTANT FOR CONTRACTORS TO INCREASE THEIR CAPITALIZATION IN ORDER TO MANTAIN SURETY CREDIT?
Brock Masterson
COO – Surety Division
Crum & Forster
Surety Division
Even the best contractors can’t foresee every challenge throughout the life cycl...
Risky Business: Surety Experts Talk Risk Mitigation in Construction
By Scott Berman
November 8, 2024
The construction landscape is changing daily, bringing new challenges for contractors—including dealing with new competition, taking on work in new markets, and navigating supply-chain issues, labor shortages and more. Companies who succeed in this competitive environment must th...
September Construction Job Openings, Distorted by Storms, Decrease by 40,000
By ABC
October 31, 2024
WASHINGTON, Oct. 29—The construction industry had 288,000 job openings on the last day of September, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening ...
Key Legal Issues to Consider Before and After Natural Disasters
By Patrick Kelly
October 22, 2024
While legal considerations are often the last thing on the minds of project owners and contractors during an emergency, construction industry stakeholders should bear in mind the impact of natural disasters on their legal rights, remedies and potential exposure to claims.
For al...
Mitigating Risk in Construction Site Preparation
By Joseph Willis
October 8, 2024
In the realm of construction—where every project involves a multitude of moving parts, uncertainties and potential hazards—effective risk management is the key to preventing costly project interruptions. A well-executed site safety plan can help prevent tragic injuries. According...
Damage Control: Major Rebuilds After Major Weather Events
By David McMillin
September 20, 2024
More than two feet of rain drenching Fort Lauderdale in a day, baseball-sized hail chunks falling on Minneapolis and the deadliest wildfire in more than a century destroying more than 2,100 acres of Maui—2023 was a stark reminder that Mother Nature is a force to be reckoned with....
The Risks of Minimum Insurance Coverage for Contractors
By Corey Sheridan
September 19, 2024
In Q1 of 2024, the average cost of U.S. commercial insurance rose 6.3%. Managing costs in the construction industry is a constant challenge, especially for small to mid-sized companies, and saving money on insurance costs is top of mind for any business. As insurance costs rise, ...
Job Security: Technology, Cybersecurity and the Threat to National Security
By Ian Warner
September 19, 2024
In the United States, there is currently an unprecedented level of construction projects surrounding infrastructure improvement and development, manufacturing facilities, data centers, critical minerals mining, transportation and affordable housing. These massive undertakings are...
Choosing the Right Insurance When Converting a Commercial Building for Residential Use
By Scott Bedingfield
August 21, 2024
Converting an office building to residential use can be a significant endeavor, and part of that process involves insuring the property adequately during the conversion.
STEPS TO CONSIDER
Assess the conversion: Thoroughly assess the building's conversion from office to residen...
Exploring the Nuances of Workers’ Compensation Insurance for Contractors
By Brittney Passini
August 15, 2024
In 2023, the construction industry reported more than 162,000 injuries and 986 fatalities to the U.S. Bureau of Labor. Even when contractors work diligently to keep their crews safe, work injuries can still occur. Fortunately, workers’ compensation insurance reduces the financial...
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