Posts Tagged 'RIsk'

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Don’t Wait Until It’s Too Late to Understand Protective E&O Policies

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.

Medical and Benefits Costs Are Top Concerns

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.

Beyond the Basics: Three Overlooked Bonds to Keep Projects on Task and on Target

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.

An Overly Soft Credit Environment Can Adversely Affect Small Contractors

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. 

Technology, Insurance and Personnel Drive Safe Auto Programs

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.

Construction Executive to Host Twitter Chat Aug. 16

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.

Workers’ Comp Report Reveals Top Five Causes of Workplace Injuries

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.

When Hotel Brand Standards Collide With Good Practice

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.

Business Interruption Is No. 1 Global Risk

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). 

Strategies for Protecting Construction Workers From Active Shooters

Although not required by a specific federal law, construction companies should consider developing policies and procedures to protect their workers, subcontractors and jobsite visitors (including suppliers) during these rare, but highly dangerous occurrences. 

//to add proper spacing in between panes
 

Industry Changes Push AEC Firms Toward Proactive Recruitment
When it comes to recruitment, the AEC industry is grappling with an already...

Gauging the Swing of the Republican Pendulum
As suddenly as the window of opportunity blew open for Republicans by the winds...

Q: What does it mean for your company to be employee-owned?
Employee ownership allows Choate to share long-term success with our employees...

Service Above Self
Two years ago, Gary Neal—an engineer and project manager with MEC Contractors...

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