Insurance

Overcoming America’s Infrastructure Problems with Public Private Partnerships

by | Jul 27, 2017
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While P3s fill the financial void for funding much needed infrastructure projects, they can cause problems for those unfamiliar with their structure, reasoning and complex contractual terms. Contractors need to perform due diligence, define roles, implement safety nets and minimize the impact of potential risks with professional liability insurance products.

How Will the New 2017 AIA Contract Documents Affect Projects?

by | Jun 23, 2017
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A significant 2017 revision to AIA’s A201 Family is the creation of an Insurance and Bonds Exhibit to accompany the owner-contractor agreements. There are also new provisions related to digital information and BIM. Key 2017 owner-contractor and owner-architect agreements require the use of AIA Document E203™–2013 to establish protocols for the development, use, transmission and exchange of digital data.

Cyber Security: Contractors Be Prepared

by | May 22, 2017
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The best time to plan a response to cyberattacks is now, before an incident occurs. Start by identifying mission critical data and adopting risk management practices and; be prepared to assess its scope and nature. After recovering from a cyberattack, continue to monitor for any anomalous activity and make sure the company has regained control of its network.

Five Ways to Combat Employee Theft in the Construction Industry

by | May 12, 2017
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All businesses are susceptible to employee theft even with background checks and other means of ensuring a quality workforce. Most employees who steal are first-time offenders with a clean employment history. Talk to an insurance broker to be sure there is proper coverage and prevention mechanisms to minimize risk in the construction business.

Financial Statement Red Flags to Detect Internal Theft: Construction Contractors Can Minimize Financial Damage by Recognizing Fraud

by | May 1, 2017
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Financial statement fraud is a real threat to businesses large and small across all industries. The first line of defense against these criminal activities is the implementation of systems, policies and controls intended to safeguard an organization and deter fraud or stop it in its tracks at the first sign of detection.

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