Risk

Surety bonds have played a crucial role in public and private infrastructure development for nearly a century and continue to adapt to the evolving needs of the construction industry. According to an Ernst & Young report titled “The Economic Value of Surety Bonds,” surety bonds o...

For construction contractors, securing surety bonds is not merely a formality, but a critical aspect of business operations. Surety bonds serve as financial guarantees that contractors will fulfill their contractual obligations, providing assurance to project owners and stakehold...

IN AN UNCERTAIN ECONOMY, WHY IS IT IMPORTANT FOR CONTRACTORS TO INCREASE THEIR CAPITALIZATION IN ORDER TO MAINTAIN SURETY CREDIT? Brock Masterson COO – Surety Division Crum & Forster Surety Division Even the best contractors can’t foresee every challenge throughout the life cy...

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...

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 ...

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...

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...

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....

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, ...

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...