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As the Insurance Hard Market continues, Carriers are reducing their appetite for risk. This means Carriers are not insuring:

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As your company’s insurance premiums start to renew, it’s important to understand that price increases are occurring because of the Insurance Hard Market. A variety of coverages are affected by this including General Liability, Excess Liability, and Builder’s Risk.

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As a Contractor, you are familiar with stiff competition, slim profit margins, and severe weather working conditions. One thing that you might not have been prepared for is the current Hard Insurance Market.

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An unexpected construction trend resulting from the Pandemic is the increase in modular construction. This method is a type of prefab construction. It ranges from manufacturing basic elements such as panels and walls to full units, like kitchens and bathrooms in a factory. Then they are assembled on location like large Lego® pieces. Modular construction accounts for about 5% of all new projects in both commercial and residential real estate. Developers are embracing modular construction for everything from data centers to medical buildings. Utilizing prefabricated units has some impressive cost benefits.

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The COVID-19 pandemic has caused many companies to shift their work environments. As we enter 2021, many employees are still in a hybrid (office/work-from-home) setting or an entirely remote environment. As such, employers should be aware of new litigation regarding work-from-home and compensability under their state’s Workers’ Compensation (WC) statutes.

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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 dismissed appeals by six insurers – Hiscox, RSA, QBE, Argenta, Arch and MS Amline – determining that “many thousands of policyholders will now have their claims for coronavirus-related (COVID-19) Business Interruption losses paid.”

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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 of that, we find the primary issue that impacts the P&C insurance marketplace in 2021 is uncertainty.

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An unprecedented court ruling regarding business interruption insurance claims impacted by COVID-19 ‘across the pond’ has many insurers and insureds anxiously awaiting any ripple effects to be felt in the U.S.   

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The construction industry has started picking up the pieces from COVID-19. Together, we have learned new lessons and developed new strategies for the future. Since this pandemic is unique, as disputes start to occur, we will start to see how the courts take precedent on COVID-19 cases. Here are 5 new construction scenarios to consider that could potentially lead to a claim.

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The COVID-19 pandemic continues to have the most significant and widespread economic impact since World War II. Unfortunately, there are no benchmarks to compare what is happening or to accurately assess the overall medium and long-term impacts. As Owners and Contractors start picking up the pieces from this pandemic—and as we see projects that were halted, businesses that have been closed, and many other construction concerns—there are a few things to be mindful of: