The TSIB Team

All Authors and TSIB

Recent Posts

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 taken at the time of the event. However, the Construction industry wanted to really make a difference. That’s why the 6 leading U.S. General Contractors teamed up to create a consortium called Time for Change.

Read More

Topics: TSIB Community, Construction Trends, Diversity Outreach

Is Your Broker Supporting You Through the Claims Process?

Image credit: love+work/

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 claims adjustor when you should be at a project site? Wouldn’t it be helpful to have guidance through the entire claims process, so you can get back to business? Absolutely! Your Broker should be performing a thorough analysis on both your firm’s internal claims process, as well as the insurance carrier's claims procedures.

Read More

Topics: Claims, Safety

Understanding the NY Insurance Construction Marketplace

Image credit: janifest/

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 on the contractor, and it is almost impossible to defend. As a result, we're seeing more Carriers pull out of the NY marketplace, and less available underwriting capacity than ever before. Underwriting capacity means that if last year a Carrier was able to write $1,000,000 in new business premium, this year, they may be only allowed to write $700,000 in coverage.

Read More

Topics: Construction Insurance, New York Contractor

The Importance of Removing the Wrap-Up Exclusion From Your Policy

Image credit: siribao1/

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 Broker and removed the General Liability Wrap-Up Exclusion via endorsement on a blanket or project-specific basis.

Read More

Topics: Claims, Wrap-Up Insurance, Construction Insurance

Wrap-Up Challenges and Benefits

Image credit: siribao1/

If this is your first Construction project, finding the right insurance program is the key to the project’s success. Traditionally, Project Owners require all of their Contractors to provide their own insurance in their bid. An increasingly popular insurance method is to implement a Wrap-Up Program.

Read More

Topics: CCIP, OCIP, Wrap-Ups

Cash Flow Solutions for Construction Companies

Image credit: NicoElNino/

Managing your company’s cash flow is extremely important. Unforeseen problems will arise, but if you have a proper cash flow management system in place, your company will be better equipped to handle any issues that may arise. Here are some cash flow solutions that your construction company can implement:

Read More

Topics: Construction Insurance

Factors Sureties Review When Deciding To Retain a Defaulted Contractor

Image credit: pragasit+Lalao/

In the construction industry, there are times when Contractor default occurs. Unfortunately, defaults are not always foreseeable or manageable. Here are several factors a Surety will review in order to make the decision on whether to retain a defaulted Contractor.

Read More

Topics: Surety Bonding

5 Common Cash Flow Problems Construction Companies Face

Image credit: pragasit+Lalao/

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 Contractor, your cash flow flexibility is critical to your business. When you look at your company’s cash flow, you can gauge how much money you are able to spend at any given time.

Read More

Topics: Construction Trends, Construction Insurance

4 Overlooked Components of a Safety Manual

Image credit: annatamila/

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 processes and procedures to follow if they are in a situation that isn’t. It might seem obvious but any employee not complying with your company’s Safety Manual could be putting your company at risk. Every Safety Manal needs to include:

Read More

Topics: Safety

What Does Commercially Useful Function Mean (CUF)?

Image credit: N+U+S+A+R+A/

In order to receive credit for your project's compliance requirements by hiring Disadvantaged Business Enterprises (DBEs), you must showcase that the DBEs are performing a commercially useful function. In the past, some Contractors would hire DBEs to fulfill their diversity requirements but did not have them actually perform the work. DBEs would sub out their work to another firm (typically not a DBE) that would fulfill all of the work instead. To prevent this from happening, Federal, State, and local regulations were put in place that in order to receive credit, hired DBEs must provide a commercially useful function.

Read More

Topics: Commercially Useful Function (CUF)