Risk Management
Companies may wish to share the risk on a project, secure additional bonding capacity or enter a new market segment with a more experienced contractor, as well as offer additional resources, including working capital and other trades needed for a project. However, many risks need to be addressed prior to officially forming a joint venture.
Don’t Ignore Auto Insurance, Excess Liability and Cybersecurity Risks
Now that businesses are settled into the new year, it’s a good time to consider some of the top insurance and risk management challenges that contractors and other construction organizations should expect in 2019.
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.










