Seven Ways Drones Can Minimize Risk-Taking on the Jobsite
Contractors can find distinct advantages to being early adopters of drones in the construction sector, especially on the safety front.
Navigating Liability for Defective Products
To avoid defective product liability, work with suppliers who stand behind their product and take steps to spread the risk to suppliers, such as being named as an additional insured.
Two Sides of the Surety Risk Coin
There are two sides to managing surety risk. When acquiring a bond, consider cost and the company’s bond limits. When making a bond claim, proactively communicate with the surety.
Paying the Price of Employee-perpetuated Workers’ Compensation Fraud
Employee fraud accounts for 20 percent of annual workers' comp claims paid. It can be an alleged accident that never occurred or when an injured employee exaggerates his disability and doesn’t return to work when he is able.
Dispute Resolution of Performance Bond Claims
To avoid litigation on whether a surety may be compelled to arbitrate, contractors and owners should specifically incorporate appropriate language in the contract documents.
Risk Management Checklist: Pros, Cons and How to Make One That Works
A risk management checklist helps to ensure that the appropriate conditions are present or that they’re “inspected.” The checklist is often only as good as the inspector utilizing it and must be accompanied by instructions.
Professional Liability Insurance Trends, Challenges and Predictions
A 2018 Market Update report cites a stable but competitive commercial insurance marketplace with new entries joining many established carriers vying for increased market share.
The Power of Project Monitoring in Preventing and Mitigating Risk
Construction projects are made up of several sources of capital that turn concepts into reality. These funding sources may dictate terms and monitor project progress, which can effectively mitigate risks.
