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No matter if you are an Owner, an Agency, or a General Contractor, it’s important that your construction team understands the projects’ diverse business (DB) goals and the good faith obligations if they aren’t met.
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Even though the economy and driving activity has gradually increased to pre-pandemic norms, we are unfortunately still seeing significantly high commercial auto insurance premiums. To reduce the insurance carriers, claim exposure and expenses, they are continually increasing rates, implementing strict underwriting guidelines, and transferring additional responsibilities & cost to policyholders. Despite these challenges, here are 4 steps you can take to ensure safety and minimize risk.
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Earlier this week on Monday January 22nd, news outlets began reporting on a major data leak that has potentially compromised 26 billion records. The allegedly compromised information came from numerous companies, including LinkedIn, X (formerly Twitter), Dropbox, Adobe, Canva, Tencent, and Weibo.
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Merck and its insurance companies have settled their lawsuit involving a 2017 cyber attack. The litigation involved a dispute about whether a war exclusion applied to a NotPetya cyber attack.
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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 Administrator.
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As we prepare ourselves for the upcoming new year, it is important to look ahead to potential opportunities in the Insurance Industry. Insurance Journal recently revealed their Industry Trends to Exploit for 2024.
Topics: Construction Insurance
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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 Owner or General Contractor are requiring you to enroll into the Wrap program. You have your own corporate insurance. Do you need to enroll in the program?
The short answer is yes. While there is a limited list of trades that are usually excluded from a Wrap program, most trades are required to participate, making enrollment a requirement. You can always refer to the project’s Wrap manual for the excluded trades on that project. These excluded trades are typically:
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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 the abilities to learn, reason, communicate, and process information to form intelligent and efficient responses in a timely manner.