Latest Construction Headlines
All the headlines from our Construction Topic Page, ordered by recency.
RLI Sets Record Year; Exits Construction Market
Jan 26 2006 // Peoria, Illinois-based RLI Corp. recently reported record 2005 net earnings, while at the same time announcing the company’s decision to exit the construction market. RLI said that net earnings were $107.1 million...
Texas Comptroller Says Construction Commission Favors Builders
Jan 25 2006 // The Texas Residential Construction Commission is acting as a “builder protection agency” and has no power to force homebuilders to repair construction defects in new houses, according to state Comptroller...
Mass. Man Sentenced to Jail for Perjury, Workers’ Comp Fraud
Jan 24 2006 // A Gloucester, Massachusetts man has been sentenced to jail for committing perjury in relation to a workers’ compensation scheme, Attorney General Tom Reilly announced. Timothy Hayes, 39, pleaded guilty this month to...
Nevada Court Cancels Construction
Jan 23 2006 // A multimillion-dollar construction defects award was erased by a unanimous Nevada Supreme Court decision that held the case had been improperly given class-action status by a lower court judge. The high court ruling favors...
Calif. Hands Down Convictionsfor Violating Contractor Licensing Laws
Jan 22 2006 // Fraud Roundup Ventura County, Calif., District Attorney Gregory Totten reported that the office’s Consumer and Environmental Protection Division recently obtained two convictions for violation of the California...
Aon Construction Services Group Names Shaw Director, Surety
Jan 19 2006 // Aon Construction Services Group reported the appointment of Phil Shaw as director, Surety. In this role, Shaw will be responsible for primary account management duties on commercial and contract accounts for the Dallas...
How Producers Build Up Construction Insurance Business
Jan 5 2006 // Insurance producers land new accounts every day. But successfully building a solid block of business from one new account does not happen every day, particularly in the field of construction insurance. Dave Sinclair of...
Artisan contractors run for liability cover
Jan 2 2006 // Artisan contractors are being squeezed in the insurance market as general contractors and insurers do what they can to transfer and limit their exposures, especially in so-called “pain” states. Artisans are...
Sizing Up The Construction Market
Jan 2 2006 // The list of insurers is hsorter and restrictions longer When he is presented with a construction account at his office on Fifth Avenue in Manhattan, Rubin Alspector can quickly determine which insurers might write it. He...
Constructive advice
Jan 2 2006 // Producers in construction offer advice for producers breaking in “Affiliate with another agency that knows the industry and has the right markets. There are a limited number of markets out there for contractors and...
Risk management strategies before, during and after construction
Jan 2 2006 // The construction-defect wave of the past decade has demonstrated that a comprehensive litigation risk management program must address a project’s needs at pre-construction, during construction and at...
Building up construction insurance, block by block
Jan 2 2006 // Agent Dave Sinclair remembers his first construction account well since it was only about six years ago. It was a plumber contract with a premium of about $70,000. Today Sinclair’s Wallingford, Conn.-based agency...
California residential construction efforts reduce risk of defect litigation
Jan 2 2006 // Builders and trade contractors vie to bring carriers back to the Golden State. During the past few years, builders and trade contractors in California have endured triple-digit rate increases and an exodus of insurance...
Construction — General Contractors and Artisans
Jan 2 2006 // Nuts & Bolts: Hull & Co., Stockton, Calif., has added another company to its array of contractors markets. The new market is Best’s rated “A,” IX and writes both general contractors and...
By Andrew G. Simpson
Jan 1 2006 // Agent Dave Sinclair remembers his first construction account well since it was only about six years ago. It was a plumber contract with a premium of about $70,000. Today Sinclair’s Wallingford, Conn.-based agency...
California residential construction efforts reduce risk of defect litigation
Jan 1 2006 // Builders and trade contractors vie to bring carriers back to the Golden State. During the past few years, builders and trade contractors in California have endured triple-digit rate increases and an exodus of insurance...
Effect of Navy shipbuilder payments on insurance questioned
Jan 1 2006 // A Navy plan to pay Gulf Coast shipbuilders about $1.7 billion for losses related to damages and construction delays from Hurricane Katrina may overstate the actual costs and could dampen efforts to collect insurance...
Lots of stability
Jan 1 2006 // When he is presented with a construction account at his office on Fifth Avenue in Manhattan, Rubin Alspector can quickly determine which insurers might write it. He knows his standard markets well enough to know that only...
Artisan contractors run for liability cover
Jan 1 2006 // Artisan contractors are being squeezed in the insurance market as general contractors and insurers do what they can to transfer and limit their exposures, especially in so-called “pain” states. Artisans are...
6 Hurricane experts Max Mayfield, Bill Bailey
Jan 1 2006 // Full agenda slated for Feb. 8 to 11 windstorm conference 6 Ga. legislative meetings successful 30 legislators, 102 agents attend IIAG events 8 Tenn. bill would require sinkhole coverage Legislator suggests adding new...
