Posted on 11/30/2016 8:15 AM By Dave Wagner
Modern building and infrastructure projects generate a lot of data, and it’s only going to keep growing. In 2004, a large project generated roughly 100 gigabytes of data; today, that stat has risen to 6.5 terabytes of data. Because building and infrastructure projects live and die by project information, many risks are associated with properly managing it.
Posted on 11/30/2016 8:02 AM By Raymond Bustamante
Protective E&O is an essential insurance policy where perceived concerns about the amount and adequacy of the design firm’s professional liability insurance can be questioned in relationship to the complexity and size of the project. Brokers and insureds need to be aware of several seemingly innocuous clauses contained in many of these policies.
Posted on 11/30/2016 7:43 AM By Joanna Masterson
Fifty-six percent of construction businesses surveyed for the 2016 Travelers Risk Index report they worry most about medical cost inflation and legal liability, followed by rising employee benefits costs and broad economic uncertainty. Rounding out the top eight construction business concerns are attracting and retaining talent, employee safety and workplace violence, legal and regulatory compliance, and cyber risk and data breaches.
Posted on 11/2/2016 10:15 AM By Antonio Albanese
There are numerous types of bonds to consider depending on the size and scope of a project. Don't forget about wage and welfare bonds, transactional commercial surety bonds and subdivision/completion bonds.
Posted on 11/2/2016 10:09 AM By Kevin Lorenz
Fast bond products or “quick issue” bonds have sped up the process of obtaining a bond for smaller projects. Quick turnaround and minimal underwriting—sometimes solely based on credit score—allow for speedy answers when time is of the essence. That’s the upside. The downside of this softer credit-based underwriting is that the relationship-building and counseling process can suffer.
Posted on 8/24/2016 12:11 PM By Lauren Pinch
In the following Q&A Travelers offers insight on recruiting qualified commercial drivers and integrating them into a company’s safety culture, as well as the impact of telematics on construction fleets and the insurance products needed to limit financial liability.
Posted on 8/8/2016 4:15 PM By Joanna Masterson
Join Construction Executive (@ConstructionMag) in a live Twitter chat on Tuesday, Aug. 16 from 12 p.m. to 1 p.m. (EST) to learn about and share expertise on the topic of workplace safety. Follow the hashtag #HRTailgate to engage in a discussion on how organizations can create a safety-conscious culture, how companies keep employees abreast of safety requirements, the safety challenges that are top of mind in the construction industry, and more.
Posted on 7/26/2016 12:17 PM By Joanna Masterson
In the construction industry, strains and sprains were the most frequently reported injury (28 percent of the total), and they caused workers to miss an average of 57 workdays.
Posted on 5/23/2016 5:53 AM By George DuBose, Norman Nelson and Richard Scott
Unsuspecting hotel design and construction teams need to heed the warning: Rigid adherence to brand design and construction standards without factoring in specific regional and climatic conditions can result in significant mold and moisture issues in new hotel construction.
Posted on 3/25/2016 12:11 PM By Joanna Masterson
Business and supply chain interruption (BI) is the top risk for businesses globally for the fourth consecutive year. Rounding out the top three global business risks are market developments (i.e., market volatility or stagnation and intensified competition) and cyber incidents (i.e., cyber crime, data breaches and technical failures).