Category Archives: Construction

Join Construction Industry Experts at Our Next CEO/CFO Roundtable

AssuredPartners NL has partnered with MCM CPAs & Advisors and construction industry experts, Lee Smither and Rick Ciullo, for a CEO/CFO Construction Roundtable, Tuesday, May 9. Topics will include: Insights into the construction industry’s complex business challenges Mega Trends: Priorities for general contractors, construction managers, subcontractors, architects and engineers in order to be successful Regional […]

How New Technology Tools Impact the Construction Industry

The construction industry is on the rise again this year with an expected five percent increase over 2016 numbers. The sections seeing the most upswing are single-family housing, commercial buildings and institutional buildings. As the industry rises, the need for sophisticated technology tools and techniques are needed to help contractors and developers prevent risk and loss. […]

3 Ways to Improve your Construction Safety Efforts

The construction industry is on the rise since the 2008 recession and as the industry sees more activity, work-related accidents and deaths increase. According to the Bureau of Labor Statistics, 2015 saw 937 fatal deaths in the construction industry which is a 2% increase, the most since 2008. This raises the question, how can employers […]

Understanding the Errors and Omissions Exclusion

A construction manager is hired by a project owner to manage the entire project from start to finish. Their scope of work varies greatly from coordinating and supervising subcontractors to administrative services.  A project owner places their trust in the construction manager to achieve the overall goal of producing quality work with little delay at […]

Understanding the Five Types of Construction Contract Bonds

When a building is under construction, the building owner expects that the contractor doing the work will complete the project on time and within the budget. In some circumstances, this may not happen and this is why contract bonds are issued to a contractor, to give the building owner peace of mind. When corporate surety […]

Kentucky Removes Prevailing Wage from Law

The new Right to Work law will give all Kentucky workers the right to choose whether or not they want to pay union dues.  An employer cannot force an employee to pay dues as a condition of employment as Kentucky has fully repealed Prevailing Wage (PW) from law. The following will be written into Kentucky […]

Cross it Off: A Checklist to Prevent Structural Failures

Risk management professionals who specialize in construction projects for commercial properties identify a building’s safety as one of their top concerns for any project. This concern can be eased by verifying that the building has a solid foundation and that none of the materials used to construct the building are defective. Structural failures are accompanied […]

How to Navigate the Construction Insurance Process

In the construction industry, obtaining business insurance and being able to provide proof of that coverage to an owner, general contractor, or even another subcontractor can make or break the beginning of business. Without protection for employees, employers and the public, contracts and state laws make it incredibly challenging to operate. Since insurance plays such […]

The Coverage Many Contractors are Lacking

Contractors know they need general liability insurance, but they often aren’t fully aware of the potential gaps in coverage versus their exposures. Design firms and contractors work together to complete a project, but when something goes wrong, who is responsible for the damages? Contractors are assuming nontraditional risk that their core coverages may not provide […]

The Risk in Employees Driving Their Own Cars on Company Time

“Non-Owned” auto exposure is created when you have employees working on company business in personal vehicles.  This is a significant potential exposure to loss on your Commercial Auto Policy if an employee is involved in an at-fault accident in the course of employment, and the resulting damages are high.  If the employee does not have […]

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