Insurers Expanding into Subcontractor Default Insurance Market

subcontractor default insurance market

There’s good news to share for those in the commercial construction trade: The year ahead is likely to usher in a new era in Subcontractor Default Insurance, or SDI. For years, Zurich Insurance Ltd. had been the only insurer that offered SDI, in a line that it called Subguard. That slowly changed, however, as other… Read more »

4 Ways to Improve Construction Site Safety

Deaths and injuries are on the rise. Here are four ways construction companies can reduce workplace accidents and promote construction site safety.

If you’re in the construction business, the latest figures about workplace-related deaths in Colorado are nothing short of alarming, an urgent reminder to make sure you’re emphasizing training and safety. While the numbers for all industries saw a slight decrease from 2016 to 2017, fatalities in the construction industry jumped by almost 60 percent. The… Read more »

Safety Management: How To Compute Your Incidence Rate

You have a clear idea what your Experience Modification Rate is (or should be) and know all too well that the lower your “e-mod,” the better. But do you know what your company’s “incidence rate” is and how it can quickly hurt your bottom line? In the simplest terms, OSHA uses incidence rates to compare… Read more »

Understanding the Differences in Builder’s Risk Insurance Policies

Insurance policies can vary from carrier to carrier, sometimes in ways that might surprise. That’s especially true when it comes to builder’s risk policies, with terms and conditions that can be wildly different.

Insurance policies can vary from carrier to carrier, sometimes in ways that might surprise. That’s especially true when it comes to builder’s risk policies, with terms and conditions that can differ wildly. These policies also can be unexpectedly narrow, leaving contractors without the coverage they thought they had. A 2014 court case pitting a Denver-area… Read more »

Case Study: Workers’ Compensation Rates — A Game of Inches

The Challenge: “Football is a game of inches and inches make the champion.” That’s something the great Vince Lombardi used to say and it’s a point with parallels in the workers’ compensation world. To be clear, we’re talking about your experience modification rate, or EMR, a topic that we’ve addressed here in the past but… Read more »

Is Your Safety Program Working?  

safety program

The investigations, finger-pointing and lawsuits arising from the deaths of two construction workers in a scaffolding collapse near Disney World this summer could easily drag on for years. Beyond the immediate horror, if you’re in the construction business, hearing the news from Orlando might have evoked a sense of relief that nothing like that has… Read more »

Liquidated Damages: Keeping Things Fair in Construction Contracts

liquidated damages

The construction industry’s labor woes have left general contractors and their subcontractors scrambling to find workers and, when things get bad, on the hook for damages related to project delays. Few time-crunched GCs or subs are able to take a fine-tooth comb to the tangle of legalese typically seen in their contracts, but if there’s… Read more »

Construction Contract Clauses You’ll Want to Negotiate

The best strategy in negotiating construction contract clauses is, of course, to keep everyone’s interest in mind. After all, contract provisions that protect both the owner and the GC can help ensure they work together again on a future project.

Notice provisions. Indemnification clauses. Limitations of liability. No-damages-for-delay provisions. Also known as risk-shifting tactics, any of the above can create a headache and worse for anyone in the construction trade. The best way to tackle risk-shifting is to understand it when you see it and know how to deal with it. But even seasoned GCs… Read more »