INSURICA Construction Times
Keeping you ahead of the risks and challenges unique to your industry.
Winter 2022-23
“ Let us suppose that you are a plumber, digging a trench for pipes, and you sever a fiber optic cable in the process. The General Liability policy includes ‘Underground’ coverage for damage to the Fiber Optic cable [tangible property]. However, it does NOT provide coverage for the loss of information [intangible property], or the loss of income that the third party may have endured due to loss of internet access.
Bobbie Duke –Electronic Data Liability
FEATURED ARTICLE
Construction Sites and Attractive Nuisances
Attractive nuisances are man-made conditions on your property, vacant site or active site after-hours that draw trespassers. If children trespass on site due to these conditions, the general contractor on the site can be held liable for any injuries they sustain.
FEATURED ARTICLE
Electronic Data Liability
You already know that your General Liability policy excludes ‘intangible’ property. That is why you had to buy a cyber liability policy. That policy may not have covered all of the ‘gaps’ in coverage possible by Exclusion P – Electronic Data that is included in the General Liability coverage form.
FEATURED ARTICLE
Keeping U in Mind: Managing Your Fleet Risk in 2023
With rising insurance premiums, successfully managing fleet risk should be a top priority as we enter a new year. The Occupational Safety and Health Administration (OSHA) stated that most road related fatalities occur on highways where there are seat belt requirements and traffic laws, between the hours of 7 a.m. and 4 p.m. Additionally, the U.S. Department of Transportation National Highway Traffic Safety Administration (NHTSA) 2020 annual traffic crash data reported over 38,000 fatalities related to U.S. traffic crashes, and this creates a serious conundrum for insured and insurers alike.
Related Articles
Is One Massive Claim to Blame? What is the Real Result of My Sky-High EMOD?
Many have been there staring at a workers’ compensation insurance proposal, overwhelmed by a premium so steep it feels like a punishment. The explanation seems simple: one big, catastrophic claim has thrown your experience modification factor (EMOD) into chaos, leaving you with an astronomical bill.
Imminent Dangers on the Job Site – Reducing Your Risk of Injury at Work
An imminent danger is a workplace hazard that puts you at an immediate risk of death or serious physical harm. It may be a safety hazard, such as an unstable trench or an exposed electrical wire, or it may be a health hazard, such as toxic substances, dangerous fumes, dusts or gases. These dangers could cause irreversible physical harm, death or reduced physical or mental performance.
Navigating Cybersecurity Challenges in the Construction Industry
The construction industry is continuously moving toward digitization, adopting advanced technology such as artificial intelligence, the Internet of Things (IoT) and Building Information Modeling software. These innovations help to automate tasks, reduce waste and improve efficiency, productivity and safety.