Insurance

After a wildfire, the air is thick with smoke and the scent of burnt vegetation—remnants of a once vibrant landscape now reduced to charred earth. The rebuilding process includes assessing fire risks and implementing strategies to improve resilience against future wildfires. But ...

As the world continues to experience a rapid surge in electricity demand, driven by transformative industries and technologies, the need for robust power generation and distribution infrastructure has never been more critical. The rise of data centers, artificial intelligence, el...

How does a contractor’s existing workforce and recruitment, training and retention programs impact its ability to obtain bonding? Dennis Ferretti Vice President, Contract Surety Philadelphia Insurance Companies Ben Franklin said, “An investment in knowledge pays the best inter...

Construction is an inherently high-stakes industry, where lawsuits, accidents and unpredictable events can jeopardize a company's financial health. While traditional insurance policies provide foundational coverage, they often fall short of addressing the full spectrum of risks c...

Construction insurance premiums have surged in recent years due to larger project sizes and rising labor and material costs. The insurance industry is responding to fluctuations in construction expenses—including inflation, changes in building requirements and shortages of skille...

The renovation of historic and unique buildings is both a labor of love and a huge responsibility. Rich in stories and architectural beauty, these structures link communities to their past. However, giving new life to these iconic buildings through renovation projects can place t...

As the world is taken by storm—literally, with increasing hurricanes, tornadoes, wildfires and more—insuring construction projects and infrastructure is becoming more complicated yet more necessary. Sean Pender, senior vice president of construction and development at CAC Special...

In Q1 of 2024, the average cost of U.S. commercial insurance rose 6.3%. Managing costs in the construction industry is a constant challenge, especially for small to mid-sized companies, and saving money on insurance costs is top of mind for any business. As insurance costs rise, ...

Converting an office building to residential use can be a significant endeavor, and part of that process involves insuring the property adequately during the conversion. STEPS TO CONSIDER Assess the conversion: Thoroughly assess the building's conversion from office to residen...

In 2023, the construction industry reported more than 162,000 injuries and 986 fatalities to the U.S. Bureau of Labor. Even when contractors work diligently to keep their crews safe, work injuries can still occur. Fortunately, workers’ compensation insurance reduces the financial...