A claims adjuster told me a few years ago that flood is the most common uncovered builder's risk claim, but not in the traditional sense.
Every year, fires cause more than $300 million in property damage. Fortunately, builders risk insurance can assist in this situation. This article explains the importance of builders risk insurance.
The penal sum of the bond is just a figure that matches the initial contract value. It ties the bond to the contract via a shared contract value, but that is not it when it becomes the surety’s total obligation.
The COVID-19 pandemic has impacted many businesses across a variety of industries, forcing them to rethink their daily operations to ensure the safety of their employees and the general public. This is no different for construction firms, where COVID-19 has led to project delays, significant job loss, and unprecedented uncertainty.
"We Don’t Have to Worry About Cyber Attacks?" There was a time when that statement was common—and even accurate. But that statement is far from correct now. In this article, we will address only the two most frequent ‘attacks’ on contractors’ businesses.
The Federal Motor Carrier Safety Administration (FMCSA) recently published a report concerning the role that large trucks play when traveling through work zones. In conjunction with National Work Zone Awareness Week, which took place April 26-30 this year, the FMCSA is specifically focusing on the number of large trucks involved in fatal crashes within work zones.
The Contracting Classification Premium Adjustment Program (CCPAP) is a discount program that can reduce the amount that an employer pays in workers’ compensation premiums.
To help slow the spread of COVID-19 and safeguard your staff, consider the strategies highlighted in this Construction Risk Insights.
There is so much focus on developing the next generation of construction workforce. Doing so safely, adhering to the safety rules will ensure a vibrant future for our industry.