Risk Management

Navigating Risk Allocation in P3 Agreements

by Michael E. Wagner, Jr. | Jan 4, 2019
Contracts | Legal and Regulatory | Risk Management

Before pursuing a P3 project, understand the basic contractual structure affecting design and construction, identify project risks, and modify terms that are inconsistent with the firm’s appetite for risk and overall strategic objectives.

Factors Impacting Construction Risk Management in 2019

by Joanna Masterson | Dec 13, 2018
Risk | Risk Management

USI Insurance Services' 2019 P&C Insurance Market Outlook Report states immigration and labor force issues, offsite fabrication, green construction, technological advances and effective subcontractor prequalification are expected to impact construction firms’ ability to manage risk effectively.

How Construction Companies Are Using Benchmarking Data and Analytics to Rise Above Their Peers

by Danette Beck | Nov 30, 2018
Business | Data Analytics | Insurance | Risk | Risk Management | Technology

Using the power of big data, risk advisors give clients sophisticated benchmarking analysis that can result in more favorable terms and rates.

Indemnification: A Useful Tool for Allocating Risk in Construction Contracts

by Laura C. Fraher | Nov 30, 2018
Contracts | Insurance | Legal and Regulatory | Risk | Risk Management

Indemnity agreements should ensure that the party intended to bear a certain risk is the one held responsible if that risk materializes.

Builders’ Risk: Covering Construction Liability

by Joseph C. Smith | Nov 23, 2018
Insurance | Risk | Risk Management

A comprehensive builders’ risk policy covers the interests of the property owner and contractors, as well as protects other insurable interests such as building materials, fixtures and equipment that could be damaged during construction.

Taming the Data Beast: Tips for Managing eDiscovery Challenges in the Construction Industry

by Barry Schwartz | Nov 23, 2018
Dispute Resolution | Legal and Regulatory | Risk Management

Construction defect lawsuits require finding, collecting and sorting through terabytes of electronically stored information. Technology solutions allow visibility into the data and the ability to manage it.

Parametric Insurance: Mitigating Risk From Weather-related Events

by Paul Ramiz, Michael DeLio | Nov 9, 2018
Insurance | Risk | Risk Management

Insurers can offer tailored solutions that allow contractors to manage the financial impact of adverse weather on revenues and costs. Parametric solutions cover a pre-defined event of a pre-specified magnitude.

Embrace the Bonding Process and Your Business Will Thrive

by Danny McNally | Nov 1, 2018
Risk | Risk Management | Surety Bonding

Establishing and maintaining a bonding relationship requires a significant investment of time and resources. This is driven by the surety’s need to thoroughly vet a contractor’s qualifications before extending surety credit.

“A worker in gray work clothes and dark gloves uses a wall chaser with a dust extraction hose to cut a vertical channel into a white aerated concrete block wall.

Why Material Changes Fail on Day One

An abstract, painterly illustration of an unfinished high-rise interior with a buckled, rusted steel column surrounded by fallen concrete debris, thin vertical framing members and a hazy city skyline visible through the open walls.

Warning Signs: Analyzing the Near-Collapse of the Former Pfizer Headquarters in New York

Two professionals reviewing and signing contract documents at a desk with a small house model, calculator and laptop, representing a real estate or construction agreement.

From Claim to Courtroom: How Documentation Shapes Construction Disputes

Why Construction Firms Need Better Inspection History, Not Just More Project Data

From Cleanup to Compliance: How Contractors Manage Jobsite Waste Regulations

arbitration for construction disputes

Arbitration in Construction Disputes: Process and Best Practices