Insurers can offer tailored solutions that allow contractors to manage the financial impact of adverse weather on revenues and costs. Parametric solutions cover a pre-defined event of a pre-specified magnitude.
Lessons Learned from Hurricane Irma
Hurricane Irma proved that buildings constructed to high wind design guidance performed well and provided critical performance information of high wind codes and standards.
Schools Remain Top Priority in Carolinas as Cleanup From Storms Continues
While the construction-related impact of Hurricane Michael is still being assessed, the estimated total property damage from Hurricane Florence is $17 billion to $22 billion.
Manage Rising Construction Fleet Insurance Rates With Technology
As insurance rates rise, invest in tools to prevent loss, such as telematics to monitor driver behavior and safety features such as backing sensors, cameras, and collision mitigation and lane-keeping systems.
Looking Past the Workers’ Comp Premium
When choosing a workers’ comp carrier, consider costs but don’t overlook how carriers historically handle claims and their reserving practices (how much is set aside to pay claims).
The Right Endorsement: Additional Insureds
Adding other parties as an additional insured on a general liability policy is popular. ISO’s versions of the standard endorsements, CG 20 10 and CG 20 37, are not always advantageous to additional insureds, especially in construction.
Beware of Indemnification Clauses
A number of options and risk management techniques can be utilized to help mitigate the liabilities inherent in indemnification clauses.
Constructing an RMIS Solution to Meet the Demands of a Growing Construction Industry
With cutting-edge technology becoming more mobile, less expensive and more accessible, the introduction of a risk management information system (RMIS) is becoming a reality.











