Is 2012 The Begining of A Hard Market?!
For those of you not in the “industry” January 1st is a big insurance date. It’s the day a vast majority of re-insurance contracts renew. Re-Insurance are those folks who insure the insurance companies...
View Article7 Tips To Position Your Business During a Hard Insurance Market
Those businesses that have incurred insurance claims will see their unit costs increase substantially. For some types of businesses, such as healthcare, human services, or construction, insurance is...
View ArticleNY Construction Umbrella Liability Market Going From Hard To Distressed
If you’re an Umbrella Insurance Carrier how many accounts do you have to write to pay a $20 million dollar claim. The answer is not enough, which is why the pricing on NY Construction Umbrella...
View Article5 Safety Tips That Pay Dividends On Your Construction Liability Insurance
“They were killed because a wealthy man was concerned about the bottom line and nothing else.” This is direct quote by the assistant district attorney , Eli Cherkasky relating to the May 2008 Crane...
View ArticleHave Copper? Worst States & Worst Places For Metals Theft
A report just released by the non profit organization National Insurance Crime Bureau stated that Copper Theft is up 81%. The report released today tagged 25,083 metal related insurance claims between...
View ArticleWhy Managing Certificates of Insurance Is a Bad Idea
In an AP news story released today called “Insurance Policies May Be Limited in Crane Collapse” it’s revealed that the NY Court of Appeals stated that coverage may be limited by misrepresentation on...
View ArticleThe Architecture Billings Index's June Numbers
The Architecture Billings Index (ABI) just released their June numbers which revealed a 6.1 point decline in the Northeast region. The ABI is a great indicator of future construction activity which...
View ArticleNY Construction Liability Insurance Rates Up Dramatically
The bane and the bonus of being a NY General Contracting firm is the ability to assess and then allocate your risk downstream to your sub contractors; that’s the bonus. The downside is that each and...
View ArticleWhy Leasing Construction Labor In NY Is A Terrible Idea
I recently asked an owner of a large General Contracting firm in NY why he was leasing certain labor functions rather than subcontracting them out or retaining the labor in house. His answer was both...
View ArticleArchitecture Billing Index Rises for 5th Straight Month
One of the leading indicators of construction activity in the U.S improved for the 3rd consecutive month in October as demand for design services continued to recover. The ABI, released November 21st,...
View ArticleConstruction Insurance Rates Continue to Increase First Quarter 2013
With January 1st re-insurance treaties negotiated and in place, and the losses from super storm Sandy still being tallied it comes as no surprise that rates for construction liability, construction...
View ArticleWorkers Compensation 3A Coverage Requirement in NY Results in Death Claim...
During a brisk morning in May of 2010 an employee of NGA Construction Company , Inc ; domiciled in New Jersey fell from a scaffold suffering severe impact injuries, perishing soon afterward. If you...
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