Executive Insights

Nine experts offer advice on what contractors need to know about obtaining additional insured coverage, how to keep from overextending in the potential burst of construction activity under the Trump administration, insights on contractors purchasing surety bonds directly, trends in owner expectations for design-build projects and the benefits of the surety bonding prequalification process. 

Wisconsin Senate Approves Bill to End PLA Requirements

  State senators in Madison, Wis., recently approved a bill preventing local governments from requiring contractors to work with unions on taxpayer-funded building projects. Republicans who control the Legislature contend ending the use of project labor agreements (PLAs), which establish wages and other conditions for certain projects, will protect taxpayers. The bill, which passed on a 19-13 vote, now heads to the state Assembly.

7,300 Wishes and Counting

When Mike Ryan, president of LandTek Group, Amityville, N.Y., hired Marty Lyons as his director of sales and marketing in 2000, he got more than a former All-American defensive football player for the University of Alabama and No. 1 draft choice for the New York Jets. He got an award-winning philanthropist who has been channeling his desire to help terminally ill children since 1982 by granting wishes through the Marty Lyons Foundation.

Congress Votes to Permanently Block ‘Blacklisting’ Rule

  Congress has passed legislation (H.J. Res. 37) that will block implementation of the Obama administration’s Fair Pay and Safe Workplaces Executive Order 13673, commonly referred to as “blacklisting,” through the Congressional Review Act. The House approved H.J. Res. 37 with a bipartisan vote of 236-187 and the Senate passed the measure by a vote of 49-48.

Trump Orders Review of WOTUS Rule

  President Trump signed an executive order that directs the Environmental Protection Agency (EPA) and U.S. Army Corps of Engineers (USACE) to reconsider the Waters of the United States (WOTUS) rule issued in May 2015. The controversial rule, which dramatically expands the scope of federal authority over water and land use across the country, has generated fierce opposition from a variety of industries, including construction. The U.S. 6th Circuit Court of Appeals placed a nationwide stay on the WOTUS rule on Oct. 9, 2015. 

Clearing the Air: OSHA’s New Construction Silica Standard

In March 2016, OSHA issued its long-anticipated final rule on respirable crystalline silica with two separate standards, one for the construction industry and the other for general industry plus maritime. The effective date was June 23, 2016; construction must be in full compliance by September 23, 2017, and general industry and maritime by June 23, 2018.

As the clock continues to tick down to September 23, now is the time for contractors to begin planning their compliance approach. The requirements of the silica standard apply to all occupational exposures to airborne respirable crystalline silica in the construction industry, except where employee exposure would remain very low. 

A Potential Gap in Indemnity Coverage

Commercial contracts in the construction industry generally contain indemnity provisions in which one party (the indemnitor) agrees to assume the liability of the other party (the indemnitee) as a result of personal injury or property damage. Historically, one party indemnifies the other regardless of fault—meaning the indemnitor assumes liability for all damage to its own property and people, regardless of who caused the damage. To the extent allowed under state law, this obligation also can include indemnity for damage caused by the sole negligence of the indemnitee.  

2017 Insurance Market Forecast

The insurance industry’s surplus is currently at an all-time high—increasing nearly 50 percent in the last seven years—which means rates have begun to decline. Although most underwriters are trying to hold the line on rate, it is anticipated that pricing on preferred accounts will continue its modest downward trend. 

Tracking Fuel to the Piece of Construction Equipment

Heavy highway construction is equipment intensive, and along with that comes the use of a lot of fuel. Considering fuel’s variable and high cost, it’s logical to track it closely, yet many heavy highway companies fail to do so. Is a specific loader using more fuel than it should? Is an employee filling up his personal car as he leaves the yard at the end of the day? Proper fuel tracking can answer these questions and many more. 

Cutting Through the Complexity Of Strategic Risk Management

  Considering its inherent complexity, enterprise-wide scope and financial significance, strategic risk is an executive-level issue at its core. It’s so vital that five of the world’s leading finance and accounting organizations developed a consortium to build an integrated framework for enterprise risk-related decision-making. 

 

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