Insurance for Construction Startups
A comprehensive insurance program protects contractors against risks such as faulty design or workmanship, physical damage to the project and injuries to employees or third parties.
Year-End Tax Planning Strategies for Contractors
Taking a strategic approach to tax planning can be beneficial, contractors should weigh costs verses benefits before implementing any tax planning strategy.
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.
Complying With Data Breach Regulations in the Construction Industry
While advancements in technology have created opportunities in construction, they opened the door for cybercrime. No one is safe from hackers, so establish policies and procedures to be prepared when it matters.
The Expansion of Potential Liability of Construction Managers and Consultants
There is a greater likelihood of lawsuits naming construction managers and consultants as defendants. The consequence of more claims has led to increased costs for legal expenses and settlements.
Risks to Consider When Bidding on a Construction Project
Forward-looking contractors integrate risk management in their bidding process. It involves careful planning of project schedule, realistic budget assessment and systematic mapping of potential obstacles.
Failing to Adopt a Comprehensive Cyber Plan Can Lead to Disaster
Most construction companies do not have cyber insurance or a cyber security plan to deal with a computer breach or hacker. A cyber plan speeds up the investigation and response time to the breach.
A Comprehensive Cyber Security Plan Is Key to Robust Risk Management
A breach or hack of a construction company’s computer systems can result in loss of income, loss of clients, loss of trust by the public and even the loss of the entire business.
