By David Pacifici | Sunday, November 7, 2021
Many recent public or quasi-public projects that have utilized design-build as a project delivery method have experienced significant insurance claims due to schedule delays or cost overruns.
News
By Peter Brooks | Monday, August 16, 2021
The typical formula for running a successful construction and contracting business is a mixture of vision with hard work, investment and experience. But then, there’s always the unexpected — just ask the thousands of construction firms that either had projects shuttered or delayed once COVID-19 took hold in 2020. In fact, a recent survey by the Associated General Contractors of America (AGC) found that 75% of contractors had projects canceled or postponed due to the pandemic.
By Olivia Overman | Monday, August 2, 2021
Prior to the coronavirus pandemic, the professional liability market was firming across most lines of business due to loss severity. Over the past 18 months, as the economy experienced widespread layoffs, bankruptcies and cyber breaches stemming from the COVID-19 pandemic, the market was adversely impacted even further.
By Janice Greenberg | Monday, August 2, 2021
Most construction projects do not go exactly as planned. Architects need to modify plans midway through to correct errors, structural engineers approve an incorrectly specified concrete mix after failing to account for certain variables, geotechnical engineers miscalculate the stress-bearing capacity of the soil, HVAC contractors fail to design a system to meet specified needs—the list goes on and on.
By Andrew D. Mendelson | Monday, July 12, 2021
The consequences are undeniable. Global climate change has affected everything from the design and building of roads, bridges, homes and office complexes to the upgrading of our nation’s electrical grids and pipeline systems.
By Edward L. Sheiffele Jr. | Monday, March 29, 2021
According to the NAICS Association, there are approximately 1.3 million contractors with annual revenues of less than $5 million in the United States. While virtually all of these contractors are currently protecting their businesses with general liability, workers compensation, business automobile, and insurance for all of their equipment, the vast majority have not even considered purchasing professional/pollution liability insurance, which are both excluded from most commercial general liability (CGL) insurance policies.
February 16, 2021
Being a general contractor is challenging. They enter into contracts with project owners to deliver finished projects in accordance with the plans and specifications within the confines of a tight budget and schedule. Further complicating the matter, so much of a general contractors’ success is dependent upon the effective performance of their subcontractors. Thus, the success of any given project is largely determined by how well the subcontractors execute their respective scopes of work.
February 2021
When searching for a rewarding career, every professional should consider the insurance industry because of all of the benefits and opportunities it affords.
By Andrew D. Mendelson and Dion N. Cominos | Sunday, January 3, 2021
Legal and practice standards for design and construction professionals are evolving due to climate change. While the cause of climate change is an oft-debated topic, the fact of it is largely undeniable. The earth’s global surface temperature and water levels are rising, while severe storms and climatic events have increased dramatically across the United States and not just in coastal areas.
By Walter J. Adams, Jr. | Tuesday, November 24, 2020
Once again, the American economy is in flux. We’re all now in a wait-and-see game with a virus that is endangering the well-being of both individuals and businesses worldwide.
For some contractors, the projects scheduled before COVID-19 will move forward without delay. Others will be placed on hold or cancelled which will jeopardize the incomes and livelihoods of our nation’s contractors, subcontractors, engineers and architects.