In many countries, only 5-10% of contract value is covered in event of loss or default. In the U.S., surety bonds prevent disaster from happening in the first place but if a loss occurs, cover 100% of contract value.
2019 Insurance Market Outlook: High Surplus and Mediocre Returns Yield Flat Rates
Regardless of whether insurance is mandated by law or contract, or purchased as a best practice, it represents a major expense for most businesses. As such, it’s wise to have a full grasp on the current economics of the insurance industry and where rates are headed.
Industrial Insights on Emergency Preparedness
Companies that are able to recover quickly from natural or manmade disasters spend considerable time and resources to prepare for those events.
Prepare for a Safe Year
Rick Keegan, president of construction at Travelers, shares lessons learned from the flurry of natural disasters during the past few years, as well as insights on the role technology plays in making workers and equipment safer.
How to Transfer Some of That Risk
Contractors may think hold harmless, indemnification and duty to defend have the same meaning, but each has different and serious implications.
Office Staff Indicate Need for Modernized Access Control Systems
More than half of employees surveyed for Openpath’s Office Technology Study think their company access control system could be improved or modernized.
The Value of Burden: Accounting for Indirect Cost Improves Performance and Profitability
Ensuring that the project estimating team can predict both direct and indirect costs secures more efficient bids. The company will then have more accurate data to predict the profit the job will actually return once fully burdened.
Subcontractor Claims: Tips to Avoid and Bolster Potential Claims Against General Contractors
A recent court case reaffirmed core principles for avoiding subcontractor claims - read the contract, document, don’t write anything that shouldn’t be used in a trial, and clarify and confirm.












