by: Lisa Grubbs, Marketing Manager – CRIS, MLIS, TRIP, ERIS, AFIS, MRIS Rectification (also known as Mitigation) coverage is a key feature of a Contractors Professional Liability policy. Its purpose is to prevent what could be a time-consuming and expensive litigation process in pursuit of costs related to design, engineering or other professional service errors…
Resources
Liberty Mutual Surety 2023 Market Perspective
Commercial construction continues to chug along but the high cost of construction is taking its toll with many job starts being delayed or even cancelled. Infrastructure spending is expected to bolster the construction economy but a slowing in the service and manufacturing sectors is expected to counterbalance that surge. Attached for your reading pleasure is…
Emerging Trends in Construction Insurance: What to Expect in the Future
The construction industry is constantly evolving, adapting to new technologies, processes, and challenges. As construction projects become more complex and larger in scale, the need for robust insurance coverage becomes increasingly critical. Construction insurance plays a crucial role in mitigating risks, protecting stakeholders, and ensuring successful project completion. In this blog, we will explore the…
Safeguarding Your Digital Foundations: The Importance of Cyber Liability Insurance for Construction Companies
In today’s technologically advanced world, the construction industry has embraced digital transformation to streamline processes, enhance efficiency, and improve project management. However, with increased reliance on digital tools and interconnected systems comes a greater exposure to cyber threats. Construction companies, big or small, are not immune to cyber-attacks, and the consequences can be devastating. To…
Is Your Experience Mod About to Become a Headache?
If you are a contractor, odds are that you are familiar with the Experience Modification Rating Factor (Mod or EMR for short) component of your Workers’ Compensation Insurance. Many owners and general contractors have requirements limiting a subcontractor’s Mod to a specific level, usually no higher than 1.00. In addition, since the Mod is a…