November 2020
Exploring the hidden issues sinking your profits
Consistently achieving acceptable profit margins is difficult during the best of times. The slightest challenge can derail a project for weeks or even longer, causing profit margins to erode while also increasing the risk of potentially costly claims or litigation. And that was before COVID-19 became a reality.
By Edward L. Sheiffele, Jr. | October 19, 2020
Today's contractors must thoroughly understand all of their exposures.
Construction Firms increasingly offer both design and building capabilities. This trend has created a number of fresh liability questions for construction insurance underwriters.
August 24, 2020
ENR: Why offer a new policy? What market niche or need are you looking to fill?
It’s an innovation created by market forces. Whenever we talked to contractors and the brokers who represent them, one of the most common complaints was that there hasn’t been an insurance solution for transferring the risk of having to repair or replace faulty workmanship. Those concerns caused us to reevaluate whether there was a way for our company to satisfy that need.
April 21, 2020
According to the Design-Build Institute of America, design-build methodologies now represent 40% of the nonresidential construction marketplace and are likely to support more than $1 trillion in building projects between 2018 and 2021. This is primarily due to the ability to deliver projects faster and at lower cost than either design-bid-build or construction-management-at-risk projects. Another advantage includes the management of every project element from design to construction from one single point of contact.
By Derek E. Steffen | Tuesday, March 24, 2020
Businesses often look for ways to protect against the risks they confront on virtually every project from design and construction through completion. This includes conducting due diligence and negotiating contracts that include the appropriate insurance coverages from the contractors, subcontractors design professionals and others involved with the project.
By Will Jones | Monday, March 2, 2020
PRODUCT: Faulty Workmanship Liability
COMPANIES: Berkley Construction Professional (Berkley CP), a Berkley Company
BEST RATING: A+ (Superior)
AVAILABILITY: Coverage is available on an open-brokerage basis.
December 12, 2019
Protect your company from a variety of project challenges through detail & careful planning
Design-build is quickly becoming the mainstay project delivery method for the United States commercial construction industry.
Does a carrier’s claims philosophy really matter?
September 25, 2019
Have advances in contractors professional liability (CPrL) insurance policies created differentiation in the efficiency of claim resolution? In my mind, the answer is a resounding “yes.”
August 23, 2019
Design-build has become a widely-used construction project-delivery method due to the ability to complete projects quickly and efficiently while also reducing costs. However, along with these advantages are the increased risks that can confront both contractors and design professionals throughout project lifecycles.
By Walter J. Adams, Jr. | Monday, February 11, 2019
All contractors and subcontractors should be involved in mitigating risk.
Risk is inherent with any commercial building project. From design and specification through construction, there are many moving parts capable of creating any number of problems.