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Do I Need a New Jersey Master Plumber License Bond?
If you are a plumber in New Jersey (NJ), understanding the state's licensing and bonding requirements is essential. Before you can perform any work...
3 Steps to Preparing Your HVAC System for Summer Heat
With summer just around the corner, and warm weather approaches, it is almost time to switch your HVAC system from heat to air conditioning. As the...
Looking for a Co-Broker Partner?
Does your client have an upcoming construction project and wants to pursue a Wrap-Up? As a broker, you probably already know that a Wrap-Up is a good...
Obtain a New Jersey HVAC & Refrigeration Contractor Bond
If you’re an HVAC or refrigeration contractor looking to do business in New Jersey, understanding the state’s licensing and bonding requirements is...
Construction Safety: Tips to Prevent Slips, Trips, and Falls
Slips, trips, and falls are the most common and preventable causes of injuries in the construction industry. In the latest statistics from 2022, the...
Breaking Barriers in Insurance
This article was originally published by EliteX recognizing TSIB’s Laura Laurenzi’s as one of the top Impactful Women in Insurance for 2025. Laura...
The 4 Essentials you should be sharing with your Surety Underwriter
Keeping your Surety underwriter in the dark is never a good idea. Surety companies are your partners who support the growth and stability of your...
Changes to New Jersey Contractor Bond Requirements: What You Need to Know
Major changes are coming to New Jersey's home improvement contracting industry this year. If you're a Home Improvement Contractor Business (HICB) or...
Develop Your Safety Program in 3 Steps
Effective safety management is crucial to the success of any construction project, as it ensures everything runs smoothly and minimizes risks. A...
Cybersecurity Risks and Threats in Construction
Ransomware, malware, and data breaches have become common terms in today’s business world. While it might seem that only major consumer brands are...
2025: The Year We Adopt AI
Ask a historian what the most impactful and transformative invention is, they would undoubtedly say the Gutenberg Printing Press. The printing press...
NYS Appellate Court Finds WC Claim Compensable
An electrical worker was injured when he fell from a ladder at a job site in New York State. Although he was found to be intoxicated at the time, it...
When to Co-Broker - Wrap Administration
Insurance brokerages are collaborating more frequently, since it’s an upside to both firms’ bottom line. Competitors become partners when they...
Excluded Subcontractors: What to provide in a Wrap
Depending on the program Sponsor, some subcontractors’ trades are not eligible to enroll and are excluded from the Wrap coverage. Those trades...
Co-Brokering in the Insurance Industry
In the insurance industry when two brokers work together for a client such a collaboration is called co-brokering. There are a variety of reasons why...
How to Enroll & Stay Compliant in a Wrap Program
To enroll in a Wrap program, there are multiple pieces of data you need to gather to ensure your company is able to work onsite. Let’s take a look at...
Placing a Wrap Series: Carrier Meetings
Now that your marketing submission has been submitted to the carriers for review, it’s time to set up the carrier meetings to help solidify the Wrap...
Breast Cancer Awareness
As breast cancer awareness month comes to an end it’s important to continue to raise awareness and fight against breast cancer all year long. Breast...
Placing a Wrap: The Marketing Strategy
After you’ve built the market submission with your broker the next step is to develop a marketing strategy. The marketing strategy for a Wrap-Up is...
4th Annual Construction Inclusion Week Kicks-Off
The week of October 14- 18, 2024 kicks-off the 4th Annual Construction Inclusion Week. This industry-wide event raises awareness and drives positive...
Placing a Wrap: Building the Submission
Now that you’ve decided to implement a Wrap and have defined your project risk, and collected the underwriting data, you now want to build your...
National Suicide Prevention Month
Did you know that 1 in 5 people struggle with mental health issues daily? Unfortunately, that is not the source of suicidal incidents. To prevent a...
Safety Tips for Working in Extreme Heat
Working in hot weather during the summer can create additional risks for employees. Normal activities that our bodies usually handle can become...
Weathering Hurricanes & Other Types of Extreme Weather
The Atlantic Hurricane season is upon us, typically running from June 1st to November 30th. The storms this year seem to be stronger than in the past...
TSIB Ranks in Top 100 P&C Agencies For 2024
TSIB was recently ranked #53 in Insurance Journal’s Top 100 Property & Casualty Agencies of 2024. The top 100 list from Insurance Journal is based...
Become an Attractive Risk For Underwriters
Insurance Carriers are reducing their appetite for risk and increasing premiums. This means they are being much more selective in what they are...
TSIB Volunteers: The Connecticut Foodshare
This past summer, some of our TSIB Employees spent time volunteering at the Connecticut Foodshare. The Connecticut Foodshare was founded in 1982 with...
Ensure Your Company Has the Proper Disability Benefits
Becoming disabled while on the job is a scary situation. Whether it’s a temporary disability, like breaking a leg or a permanent disability such as...
Court Confirms Vertical Exhaustion Rule
Insurance carriers have cited the Montrose decision since the 1995 California Supreme Court ruling in Montrose Chemical Corp. v. Admiral Insurance...
Who you gonna call… Ghostbusters?
In a time of critical and serious claims involving a crisis event, do you have a plan? Do you know who to call or what to do? If you have a fatality...
TSIB: Caring for the Hungry and Homeless of Peekskill (CHHOP)
This year TSIB employees spent time volunteering with the Caring for the Hungry and Homeless of Peekskill (CHHOP), located in New York. Approximately...
Additional Insured Endorsements: Project-Specific vs. Blanket Basis
What is an Additional Insured Endorsement? First, to understand what an Additional Insured Endorsement is, we must look at what it means to be...
TSIB Volunteers: The Community Food Bank of NJ (CFBNJ)
Recently TSIB employees in the New Jersey Office spent time volunteering with The Community Food Bank of NJ (CFBNJ). More than 44M people in the U.S....
Popular Construction Insurance Acronyms – Part 1
All industries have different phrases or acronyms that are used daily. Sometimes it can be a little confusing! To help you keep them all straight,...
Standalone Terrorism Coverage - First Party Coverage
You worked hard to manage an acceptable outcome for your insurance renewal, answered countless underwriting queries, finally give your broker the...
Compensation Increases Expected Exempt Employees
The Department of Labor (DOL) increased the minimum salary thresholds for employees covered by overtime exemptions under the Fair Labor Standards Act...
Mass Timber - Sustainable But at What Cost?
The construction industry’s commitment to sustainability has been steadily growing over the past decade. With the goal of decreasing its...
Generative AI’s Effects on Insurance Claims
Generative Artificial Intelligence (AI) has begun to transition from innovation into a useful tool in many different fields, particularly the...
Understanding Subcontractor Default Insurance
Subcontractor Default Insurance (SDI) provides insurance for general contractors against a default from a subcontractor. It is a risk mitigation tool...
Additional Insured Obligations
Additional insured (AI) coverage is a common trigger of coverage disputes. The fact of the matter is that not all AI forms are created equally. To...
Insurance Carriers Are Pulling Out of CA, But Why?
The auto insurance market in California is in distress. Over the last year, several large insurance companies, such as GEICO, Allstate, and most...
Be Aware of Possible Claim Resolution Complications
Resolving claims is a critical part of claims handling. Understanding any potential claim resolution complications can assist in closing claims...
The Different Roles in a Property & Casualty Loss
Facing a large property loss, like a building or auto loss/damage due to fire, weather, or flooding can be daunting for an insured. Understanding the...
Good Faith Efforts - Are You in Compliance?
No matter if you are an Owner, an Agency, or a General Contractor, it’s important that your construction team understands the projects’ diverse...
4 Steps to Minimize your Company’s Auto Risk
Even though the economy and driving activity has gradually increased to pre-pandemic norms, we are unfortunately still seeing significantly high...
Cyber Threat: Billions of Compromised Records
Earlier this week on Monday January 22nd, news outlets began reporting on a major data leak that has potentially compromised 26 billion records. The...
Claims Update: NotPetya Cyber Attack Settled
Merck and its insurance companies have settled their lawsuit involving a 2017 cyber attack. The litigation involved a dispute about whether a war...
What does a General Contractor look for when hiring a Trade Contractor?
There are several factors that a General Contractor (GC) will look for when hiring a trade contractor for work on a construction project. Here are 4...
4 Essential Items Needed to Enroll in a Wrap-Up
First time enrolling in a Wrap-Up insurance program? Here are 4 items you should have available to expedite the enrollment process with any Wrap...
2024 Insurance Industry Expectations
As we prepare ourselves for the upcoming new year, it is important to look ahead to potential opportunities in the Insurance Industry. Insurance...
Say What? When Insurance Terms Sound Humorous
When you think of insurance, most of the time you don’t think of fun. However, there are some words that just make you smile when you hear them. Here...
Is Enrolling in a Wrap-Up Optional?
You’ve been awarded a contract on a project that is being covered by Controlled Insurance Program (CIP), or more commonly known as a Wrap-Up. The...
AI and How It Can Be Used in The Construction Industry
AI, or Artificial Intelligence, is a form of technology that is built to mirror the human mind. AI is focused on taking basic human functions such as...
Builder’s Risk Update: S. Capitol Bridgebuilder V. Lexington Ins. Co.
In recent years, large Builder’s Risk policies have included coverage terms from the London Engineering Group (LEG) that expand coverage by...
Do I Need a Standalone Terrorism Policy?
Standalone, private terrorism policies from insurance companies have become an alternative to TRIA and have gained in popularity over the past...
Construction Inclusion Week 2023
TSIB along with various other Brokers, General Contractors, Trade Partners, etc. is gearing up for the annual Construction Inclusion Week (CIW). This...
What is Terrorism Insurance?
Terrorism insurance provides businesses with protection against the unpredictable nature of a terrorist attack. An act of terrorism can occur...
Importance of Rate Pages when you enroll in a Wrap-Up
When your company starts working on a Wrap-Up, it’s helpful to gather all the required documentation you need ahead of time. This will help make your...
Vicarious Liability & Additional Insured Endorsements Ruling
Last year, an Eleventh Circuit ruling in Cincinnati Specialty Underwriters, Ins. Co v KNS Group (11th Cir. Oct. 2022) addressed issues related to...
Placing a Wrap: Data Collection
Once you’ve properly defined the risk being considered for a Wrap-Up, you’ll work with your broker to develop a marketing submission that will be...
Placing a Wrap: Defining Your Risk
A Wrap-Up is an incredible tool that manages the risk presented by a construction project. This tool also returns a significant part of the project...
How A Late Claims Notice Can Affect Owners
A federal appeals court ruled that Zurich Insurance was correct in denying coverage to Harvard University because of “lack of timely notice.”
Best Practices for Workforce Recruitment
The construction workforce shortage is a growing concern for the industry. With contractors competing against each other to fill vacant positions,...
New York Payroll Limitation Program: The Differences
In 1999, former New York Governor George Pataki enacted the Construction Employment Payroll Limitation Law. This law provides a more equitable way to...
Opportunities for Women in Construction
The opportunities for females in the construction industry has increased in recent years, going against the stereotype that construction is a...
What To Look for When Choosing the Right HVAC Contractor
Trying to find the right HVAC contractor for your commercial or residential needs can sometimes be a very stressful process. There are many...
Real Estate Developers’ Wrap-Up Challenges & Benefits
Real Estate development is a business process that focuses on the overall development and renovation of a property, whether that is an existing...
Mental Health Effects in the Workplace
Mental health is an important part of today’s society. People all around the world have made it a priority to begin to raise awareness regarding...
Have Pride in Your Company's Health Benefits
As Pride Month is coming to an end, now is a good time to ensure your company’s health benefits package represents your entire workforce. Healthcare...
Determining Standard vs Non-Standard Bond Limitations
Many active bond users can sometimes be limited in their bonding potential. These limitations occur differently depending on the bond program. There...
6 Ways Data Subjects Can Exercise their Rights
In today’s digital world, companies are looking to gather information on people who visit their website and social media platforms. This often allows...
A Broker Partnership - For the Win!
If you are an insurance broker, it might seem counter-intuitive to reach out to another brokerage for help with an existing client. However, it is...
10 Surety Underwriting Concerns
Surety bond underwriting is essentially the pre-approval and evaluation of the two bond performance requirements. These requirements were determined...
Wrap Administration Duties
So, you’ve decided on a Wrap-Up for your next project. You know your broker can secure the policies needed for a Wrap-Up. But that’s just part of the...
The Importance of a Feasibility Study
A key factor when considering a CIP or Wrap-Up is having the broker conduct a feasibility study for the Wrap-Up Sponsor. A feasibility study is a...
Wrap-Ups Lower Your Project Cost
Expensive insurance premiums are often buried into the cost of your building projects. This can add millions to what you pay and provide little...
Top 5 Risks That HVAC Contractors Face
As a contractor working in the HVAC industry, you find there is always a demand for heating and cooling services. Each household and business have...
Developing with a Wrap-Up
Construction projects present unique risks and complexities that are a distinct departure from your overall insurance needs as a real estate...
Florida Tort Reform Bill Becomes Law
On March 24, 2023, Florida’s governor signed a new tort reform bill (H.R. 837) into law (the “Act”). The Act changes areas of Florida law that have...
The Importance of an Insurance Consultant
Imagine purchasing products that are deceptively difficult to understand and how much it should actually cost. There is a Latin phrase, “Caveat...
The Global Insurance Resilience Gap
The popularity around utilizing resilience as a risk management tool is growing. Resilience can be defined as reducing the impact of a disturbance....
More IIJA Money is Coming. Are you ready?
We’ve all heard of the Infrastructure Investment and Jobs Act (IIJA) that provides $1.2 trillion in Federal funds for transportation infrastructure,...
The 4 Most Common Types of Employers Liability Claims
When dealing with Workers’ Compensation insurance, there are two components to the insurance policies. The first part consists of Workers’...
What is the Wrap-Up Enrollment Start Date?
As a contractor, when enrolling into a CIP or Wrap-Up program, there is often enrollment paperwork that needs to be completed before a contractor can...
Builder's Risk – The Basics
Builder’s Risk is a type of property insurance that focuses on providing coverage for buildings during the construction process. This insurance plan...
Is Crisis Management a Part of your Risk Management Plan?
Risk Management is the practice of identifying and analyzing loss exposures and taking steps to minimize the financial impact of the risk they...
Wrap Administration Reporting
As the Sponsor (Owner, or General Contractor) for a Wrap-Up program, you should be aware of the types of reporting your Wrap Administrator should be...
3 Captive Insurance Questions
As a contractor, you may be wondering if a captive is right for you, as they have recently been gaining in popularity. However, captives are not a...
Self-Insurance Plan Options
Have you considered self-insurance as an option for your company’s risks? Self-Insurance plans are when the insured takes the risk on themselves but...
Defaulting on Surety Bonds
When beginning work on a project, it’s often required that the contractors have surety bonds in place. However, not only can a surety bond protect a...
Why Should You Bond Back Your Subcontractors?
Shrewd General Contractors (GC) need to consider requiring surety bonds from their first-tier subs. This will help manage a contractor’s risk in any...
Driver Acceptability Standards
Have you seen an uptick in auto-related incidents recently? Your company is not alone. From 2016-2021, the average commercial auto claim payments...
Is your Wrap Administration Team CRIS® certified?
As the owner of a large construction project – whether it is a new mixed-use retail space, new hospital or new college library, there are many...
What is a Wholesale Insurance Broker?
A wholesale insurance broker is a type of insurance broker who acts as an intermediary between the retail broker and the insurer. Wholesale brokers...
Wage & Hour Coverage: The Hidden Costs of Overtime Pay
One way to identify risks for your company is to look at the insurance industry and what areas they have identified as threats. These are referred to...
What is a Holdback?
Property insurance policies can be written on a Replacement Cost Valuation (RCV) basis or on an Actual Cost Value (ACV) basis. Replacement Cost...
Employee Benefits Resources for the Holidays
As the holidays approach, and friends & family begin to celebrate, this becomes a time of stress for many. That’s why it’s a good time to remind your...
Fall Back on these Safety Tips
Daylight Saving Time for 2022 is here. As we experienced the fall back of an hour for Daylight Savings this past Sunday, our sister company, General...
Combat Auto Liability Claims
Going into the pandemic Commercial Auto insurance was a very “distressed” line of coverage. The industry was operating at 119% loss ratio through the...
Surety Bonds and P3s
Public-Private Partnerships (P3s) involve a challenging combination of new relationships and risk transfers for the private sector. While it has...
The 2nd Annual Construction Inclusion Week Kicks-Off
Last year the 6 leading U.S. General Contractors teamed up to create a consortium to help advance diversity, equity, and inclusion in the...
Information Required to Enroll in a Wrap-Up Program
Contractor’s working on a Controlled Insurance Program (CIP or Wrap-Up) jobsite, are often required to enroll in the Wrap-Up program. When a...
Property Insurance Rates Are Increasing - How Will Your Building C.O.P.E?
Property insurance rates have been steadily increasing for the past 18 consecutive quarters. While the worst of these rate increases are behind us,...
The Top 6 Misconceptions About Homeowner Insurance
As a homeowner, you know the ups and downs of owning a home. You also know there are some events that are ultimately out of your control. That’s why...
Lack of Good Talent in the Security Industry Turns Risky
It goes without saying that attracting and retaining quality employees is one of, if not the biggest challenge faced by Private Security Firms....
What are State-mandated Retirement Plans?
37% of Americans are not saving for retirement. Only 4 in 10 businesses with less than 100 employees offer retirement benefits. These are sobering...
How to Analyze a Jobsite Accident
Accidents are inevitable, but lessons learned are valuable tools to help prevent similar accidents from happening in the future. Critical analysis...
Insurance Policies: Umbrella Liability vs Excess Liability
Insurance language is filled with nuance. Often two terms can appear to have the same meaning, but in practice are different. Unfortunately, these...
What is Umbrella Liability?
There are two ways that you can buy additional insurance limits. One is an Excess Liability policy, and the other is an Umbrella Liability policy. An...
A Perfect Storm for Homeowner’s Insurance is Brewing in Florida
Recent news reports out of Florida are forecasting that more than 17 homeowner insurers are facing rating downgrades for the state’s struggling...
Writing an incident Report - Step 1: Facts
Surety bonds are instruments that have been around for well over 100 years, in fact Suretyship, or guarantees, have been around for centuries. While...
Surety Bonds 101
Surety bonds are instruments that have been around for well over 100 years, in fact Suretyship, or guarantees, have been around for centuries. While...
Need Contractor’s Pollution Liability or Pollution Legal Liability?
There are dozens of carriers offering a form of environmental or pollution coverage and the most common include Pollution Legal Liability (PLL) and...
What is Builder’s Risk Insurance?
Whether you are a General Contractor, Subcontractor, or Property Owner, your business risk is covered by a variety of insurance coverages – Workers’...
Car Repair Insurance
We have all seen the TV ads about mechanical breakdown insurance for your personal vehicle. You may be thinking: What is Car Repair Insurance? Is...
Wrap-Up Exclusion Issues and How to Avoid Them
As a contractor, you should be aware if your corporate insurance policy has a Wrap-Up Exclusion. This exclusion can potentially create issues for you...
TSIB Brings Sunshine This Summer
Every year TSIB works with an organization that positively impacts our communities. This year we chose to work with Project Sunshine.
Small vs Large Insurance Deductible Plans
Deciding the type of insurance plan can be frustrating. Ultimately you want the best coverage, for the most cost-effective price. There are different...
Risk Financing Options: Guaranteed Cost
Insurance is usually one of the last things companies want to talk about. It’s not fun or exciting, it’s simply a means to transferring risk. The...
The Wrap-Up Closeout Report
Having an effective closeout strategy is critical to successfully completing your Wrap-Up program. The overall process of a program closeout starts...
When Your Brokerage Needs a Partner
As a broker, you may have a client who would benefit from a Wrap-Up project. Unfortunately, your brokerage firm doesn’t place or administrator...
What Does MWBE Fraud Look Like?
On projects with diversity goals, regulations require that certified firms provide meaningful participation, in other words, they must provide a...
MWBE Fraud Schemes: What is a Pass Through?
One of our recent posts, “What Does MWBE Fraud Look Like?” introduced the concept of common fraudulent “schemes” that can occur regarding goal...
MWBE Fraud Schemes: What is a Supply Scheme?
Have you heard of a supply scheme? If we revisit one of our past posts, “What Does MWBE Fraud Look Like?”, it introduces supply schemes along with...
MWBE Fraud Schemes: What is a Front?
Fraudulent schemes have become increasingly commonplace in relation to goal requirements for certified MWBE’s (Minority, Women, and Disadvantaged...
MWBE Fraud Schemes: What is a Trucking Scheme?
As a business owner bidding on projects with diversity requirements, there is more to concern yourself with than simply submitting a competitive bid....
The Anatomy of an MWBE Fraud Scheme Investigation
Over the last few weeks, our posts have discussed different types of fraud schemes that might occur in relation to goal requirements for certified...
Brokers Minimize Your Construction Risks
There is a windfall of new construction projects coming due to an infrastructure bill that President Biden signed into law in 2021. The bill...
What is Contractual Risk Transfer?
Contracts are often complicated and if you are not an expert in reading them, sometimes important details can be overlooked. There are significant...
ICAP: Compliance Requirements
The Industrial and Commercial Abatement Program (ICAP) provides a reduction of property taxes for construction, alterations, or improvements on...
Cyber Insurance: War-Related Claims
With the Russian invasion of Ukraine, the insurance industry is bracing for the potential of Russian hacking activity that will target U.S....
How Wrap-Up Insurance Cost Savings are Realized
Understanding how insurance cost savings work on a Controlled Insurance Program (CIP), also known as a Wrap-Up, and who retains the risk/reward is...
Cyber Threats: Monitoring the Russian/Ukrainian Situation
With sanctions against Russia starting to take effect as a result of the Russian/Ukrainian situation, there is an increased cyber security threat....
CalSavers Program Update: New Small Business Mandates for Employers
As a California Employer, you are familiar with the CalSavers Retirement Savings Trust Act passed in 2016. As of June 30, 2022, this state-run...
Evaluating the Risk & Cost Benefits of an OCIP vs CCIP
Regardless of the structure selected for your project, implementing a CIP is a unique way to manage a multitude of insurance challenges that arise on...
Considerations for New York’s New Insurance Disclosure Requirements
On December 31, 2021, New York enacted into law the most extensive liability insurance disclosure requirements in the country. Defendants in New York...
5 Simple Steps to Renewing Your Benefits Programs
Planning ahead is the best strategy you can use when it comes to your Employee Benefits Program. Typically, in a renewal cycle, there are three major...
What is a Risk Retention Group?
Due to the 1985 hard insurance market, Congress passed the Liability Risk Retention Act of 1986. The act allowed the authorization to purchase group...
Captive Insurance Programs
Recently, Alternative Risk Financing options are gaining more attention. Before discounting these options, take a look into Captives. Companies that...
California Workers’ Comp Premium Assessment Rates 2022 Updates
As a policyholder, you may recognize that there are some California Workers’ Compensation Premium Assessment Rate changes. In 2022, policyholders can...
Do I Need Excess Liability or Umbrella Liability?
Which coverage do I need – Excess Liability or Umbrella Liability? Both? Neither? Your construction company has all the necessary insurance coverage...
What You Need to Know About Self-Insurance Programs
When it comes to risk financing for Contractors, there are a variety of methods that can be used to fund “hazard” losses. From Large Deductible...
The Role of Insurance vs. Indemnification in Contracts
In a contract, you are contractually bound by the indemnification article to pay for liabilities in whatever form you prefer. Payment of potential...
The Process to De-Risking Your Business
The goal of having a Risk Management Plan in place is to minimize your company’s risk. This protects you, your company, and your employees.
Risk Management Benefits
Implementing a sound Risk Management program for your construction firm is necessary. Protecting your Business Risks, Strategic Risks, Financial...
3 Factors That Affect Your Insurance Premium
Have you wondered why your construction company is paying $X for your insurance premium while another firm is paying $Y? An insurance premium is the...
Before Signing the Renewal, Review Your Current Insurance Program
As a Contractor, you wear a lot of hats – salesperson, customer service, quality control, etc. You understand you cannot be satisfied with the status...
5 Steps to Implementing a Proper Construction Insurance Program
With your insurance program’s term coming to an end, you might be starting to think about your upcoming renewal. It might seem easier to stick with...
Crisis Management Planning for Your Construction Company
In this ever-changing climate, it is critical to be prepared ahead of time for events like liability claims, major accidents, community crises,...
List Your Exposures in Your Upcoming Insurance Renewal
Whether your insurance renewal is this month or next year, it’s important to work with your Broker and submit a complete market submission. TSIB has...
8 Tips for Creating an Insurance Market Submission
With Carriers having a low underwriting capacity, right now it’s important to provide a “Best in Class” market submission at your upcoming insurance...
Are You at Risk for Mobile Attacks on a Job Site?
October generally means pumpkins, brisk weather, and leaf peeping. But did you know October is also Cybersecurity Security Awareness month? Before we...
Construction Inclusion Week: Building the Foundation
Over these past couple of years, there has been a shift for companies and brands to be more inclusive. Often, it’s a lot of talk with some action...
Is Your Broker Supporting You Through the Claims Process?
As a construction firm, you have probably faced your share of claims. Unfortunately, it’s part of the job. Have you found yourself on hold with a...
Understanding the NY Insurance Construction Marketplace
If you happen to be a contractor who does work in New York (NY), Labor Law is a major factor in your insurance costs. The law puts absolute liability...
The Importance of Removing the Wrap-Up Exclusion From Your Policy
As Wrap-Up Programs continue to become more popular, chances are, you have already found yourself enrolled in one. Make sure you have spoken to your...
Wrap-Up Challenges and Benefits
If this is your first Construction project, finding the right insurance program is the key to the project’s success. Traditionally, Project Owners...
Cash Flow Solutions for Construction Companies
Managing your company’s cash flow is extremely important. Unforeseen problems will arise, but if you have a proper cash flow management system in...
Factors Sureties Review When Deciding To Retain a Defaulted Contractor
In the construction industry, there are times when Contractor default occurs. Unfortunately, defaults are not always foreseeable or manageable. Here...
5 Common Cash Flow Problems Construction Companies Face
You’ve heard the saying, cash is king? Well, it really is. Managing your cash flow is key to your success in the construction industry. As a...
4 Overlooked Components of a Safety Manual
Having a Safety Manual is extremely important for your company and your employees. It guides all on what your company deems to be safe and the...
What Does Commercially Useful Function Mean (CUF)?
In order to receive credit for your project's compliance requirements by hiring Disadvantaged Business Enterprises (DBEs), you must showcase that the...
What are Good Faith Efforts?
There are two ways to fulfill diversity goals: Achieve the goal Document & track the efforts taken in case the goal is not fulfilled
What is Ransomware?
The rise of ransomware attacks in all industries is alarming and unfortunately has become an easy “payday” for cybercriminals. There are many types...
Hey, Alexa – Can you Keep a Secret? Minimizing AI Cyber-Attacks
We are seeing an explosion of technology as our devices become more powerful and less expensive. Companies are taking advantage of our voracious...
10 Safety Best Practices For The Construction Job Site
Minimizing your construction job site's risk is the key to having a successful project. To achieve this, having a good Safety and Loss Control...
3 Ways To Improve Your Construction Safety Program
It’s simply not enough to assume your employees are working safely on a job site. Accidents will happen, but there are ways your company can help...
High-Speed Rail Funding Restored in California
Based on the article Global Construction shared in early June, an agreement was signed ending the court case brought by both the State of California...
What is a Women-Owned Business Enterprise (WBE)?
Almost 20% of all firms are owned by women according to the 2018 Census. That number has been increasing over the years, especially in construction.
What Is a Minority Business Enterprise (MBE)?
Many construction projects have both State & Federal Diversity participation goals that Owners, General Contractors, and even Prime Contractors are...
The 5 Step Approach to Cyber Security
As we move to a more digital world, cyber-attacks are becoming the norm. Luckily, there are a few different ways to safeguard your company’s systems,...
Mid-Year Financial Planning Check-In
With the middle of the year and the end of the 2nd Quarter quickly approaching, as a construction firm Owner, make sure you are reviewing your...
3 Ways to Master Your Construction Company's Financial Health
When it comes to growing your construction company, we often associate success with money. The more money we make, the more successful our company....
Diminish Mental Health Stigma in the Construction Workplace
Misunderstandings about mental health have led to a negative stigma about it. This stigma has prevented employees from obtaining the proper care they...
Why Construction Companies Need Cyber Insurance
In 2020, the insurance industry not only dealt with the Hard Market but also faced a lot of new challenges. One of the most prominent ones being,...
What Should My Insurance Broker Be Doing for Me?
As in any healthy, productive personal relationship, both partners must be active participants working towards a common goal(s). If one partner is...
5 Methods On How To Manage Construction Risk
Risk is everywhere. As a construction Owner, you have had to navigate your risks and exposures in the office and on the job site. Unfortunately,...
The 3 Basic Categories of Risk
No matter what type of company you own, there will always be some sort of risk. Taking a risk is inevitable in order to bring your company to the...
What is Risk Management?
As a construction Owner, no matter your company’s size, you are constantly taking risks. It’s part of your nature as an Entrepreneur. However, there...
Risk Management: Minimize Your Company’s Risk & Avoid Future Claims
Every construction project presents a host of potential risks that need to be addressed. Although it’s no guarantee that you can eliminate all of...
Is Your Company An Attractive Risk For Underwriters?
As the Insurance Hard Market continues, Carriers are reducing their appetite for risk. This means Carriers are not insuring:
Instill a Safety First Mentality to Navigate the Hard Market
As your company’s insurance premiums start to renew, it’s important to understand that price increases are occurring because of the Insurance Hard...
Tools to Combat the Hard Insurance Market
As a Contractor, you are familiar with stiff competition, slim profit margins, and severe weather working conditions. One thing that you might not...
Construction Opportunities for Women Are On The Rise!
The National Association of Women in Construction (NAWIC) and Safe Site Check-In shared the results of a workforce survey. This survey consisted of...
How Contractors Can Work With Their Surety to Avoid Financial Ruin
There can be a myriad of problems when a Contractor cannot fulfill its contractual obligation in connection with a construction project. This puts...
Does Your EPLI Policy Have a COVID-19 Exclusion?
Employment Practices Liability Insurance (EPLI) policies are taking the spotlight in regards to claims related to COVID-19. EPLI is a type of...
Do you need to provide Employee Benefits?
It can be hard to find good employees. So when you do, it’s important that you keep them. One way to accomplish this is to offer a good benefits...
The 4 Basic Steps on Writing a Construction Incident Report
Accidents happen. Sometimes no matter how safe your company is, a claim can occur. It’s important that as an Owner/General Contractor your team knows...
The Importance of Mental Health Benefits in the Workplace
If we have learned anything from COVID-19, it is that we all need to prioritize our mental health. As an employer, you might not think you should...
Pre-Fab-ulous Construction Trend
An unexpected construction trend resulting from the Pandemic is the increase in modular construction. This method is a type of prefab construction....
Can I Claim a Workers’ Compensation Injury if I Work From Home?
The COVID-19 pandemic has caused many companies to shift their work environments. As we enter 2021, many employees are still in a hybrid...
COVID-19 Business Interruption Court Rulings – U.S. & Abroad
Small businesses in the United Kingdom (U.K.) celebrated a tremendous victory in the courts on Friday, January 15, 2021. The U.K. Supreme Court...
2021: The Time to Try a New Insurance Approach
It’s evident that the cost of an insurance program rarely goes down. Unfortunately, being in a Hard Market, we’ve seen insurance coverage rates...
2020 State of the Insurance Market Review & Outlook
As we begin 2021, we reflect on everything that happened this past year - from a global pandemic to civil unrest to natural catastrophes. Through all...
Should I Consider a Captive?
As a business owner, you have a lot to manage. Some things you might do on ‘auto-pilot’ just because you have always done them that way. Does...
Who Assigns Your Risk ID?
Is this the first time your company needs to enroll in a Wrap-Up program? As you fill out the paperwork, you will need to know what your Risk ID...
Wrap-Ups—A Closer Look at Claims Management
Wrap-Ups are a great risk management tool for large construction projects. There are many moving parts of a Wrap-Up program, which can seem...
Wrap-Ups—A Closer Look at Program Design
A Controlled Insurance Program (CIP, also known as a Wrap-Up) is a smart risk management tool for any construction project. However, before the first...
Wrap-Ups—A Closer Look at Wrap Administration
Once you have decided to utilize a Wrap-Up program on your construction project, it’s important to decide who will Sponsor the program. Determining...
California Updates: New COVID-19- Prevention Regulations
On Thursday 11/20/2020, the Cal/OSHA Standards Board approved emergency regulations for a COVID-19 Prevention Plan that will go into effect on Friday...