Latest Construction Headlines
All the headlines from our Construction Topic Page, ordered by recency.
Gulf Coast Construction ‘Woefully Inadequate’ to Survive Storm Flooding
Sep 17 2009 // Government minimum flood elevation requirements for properties vulnerable to storm surge throughout the Gulf Coast region are “woefully inadequate,” according to a new study of property damage caused by...
Building of Unique Disaster Research Facility in South Carolina Begins
Sep 16 2009 // The property/casualty insurance industry today officially broke ground for the building of a disaster safety research center in Chester County, South Carolina. The Institute for Business & Home Safety (IBHS) said its...
ISO Develops Green Building Insurance Endorsement for Commercial Properties
Sep 14 2009 // Insurance Services Office (ISO) has filed the property/casualty insurance industry’s first standard coverage option for commercial property owners interested in rebuilding damaged property with green...
Kentucky Courts Close Bonds Gap with Construction Firm
Aug 21 2009 // The Kentucky Administrative Office of the Courts has an agreement with Codell Construction Co. that will allow courthouse projects in four counties to begin. A review was ordered after it was found the Winchester-based...
Fatal Work Injuries Dropped 10% in 2008; Down 20% in Construction
Aug 20 2009 // A total of 5,071 fatal work injuries were recorded in the U.S. in 2008, down about 10 percent from a total of 5,657 fatal work injuries reported for 2007, according to preliminary government figures. Based on these...
Ironshore to Offer Liability for Owners of Uncompleted Real Estate
Aug 13 2009 // Ironshore Inc. has developed a new program to provide coverage for property owners and holders of uncompleted or in-progress real estate and development projects to be offered through its subsidiaries. IronBuilt, the...
Lexington Upgrades Green Builder’s Risk Coverage
Aug 11 2009 // Lexington Insurance Co., a Chartis company, introduced an Upgrade to Green – Builder’s Risk, which provides coverage that supports green building construction and renovation projects registered with the LEED or...
Illinois AG Settles With Construction Firms Over Worker Classifications
Aug 11 2009 // Illinois Attorney General Lisa Madigan has reached an agreement to settle claims against five Chicago-area construction firms that were falsely classifying their employees as independent contractors, rather than fully...
EPIC Appoints Principal in San Francisco
Aug 6 2009 // EPIC (Edgewood Partners Insurance Center), a retail property, casualty and employee benefits insurance brokerage, has appointed Jeff Parkhurst as principal in its San Francisco office. Parkhurst brings 20 years of...
Insurance Association Develops Green Building Risk Options
Jul 23 2009 // The Wheaton, Ill.-based American Association of Insurance Services (AAIS) has developed new, standardized builders’ risk insurance policy forms that provide coverage for loss exposures related to the...
Willis Appointed Broker for Hong Kong’s ‘Largest-Ever’ Rail Project
Jul 23 2009 // Willis Group Holdings announced that it has been appointed as the broker for the” largest rail construction project ever undertaken in Hong Kong by client MTR Corporation Limited (MTR), the operator of Hong...
Energy Construction Market Reaches ‘Tipping Point’ Says Marsh
Jul 21 2009 // In its latest Energy Market Monitor, Marsh notes that the “onshore and offshore energy construction market reached a tipping point at the culmination of the first six months of 2009.” The report states that...
Safe and Sound
Jul 6 2009 // Making the Connection for Contractors Contractors with a sharp eye for their bottom line are smart to place a premium on safety. Insurance agents and brokers tend to know a construction business that avoids injuries is not...
Starr Teams up with Talbot, QBE for Construction Risks through Lloyd’s
Jul 1 2009 // Starr Underwriting Agents Limited and Starr Specialty Lines Insurance Agency, LLC, both subsidiaries of C. V. Starr & Co., Inc. announced that they can now offer additional capacity of up to $75 million “through...
Marsh Launches Project Prof. Indemnity Insurance Facility for Construction Firms
Jun 29 2009 // Marsh’s London office announced the launch of “a new project professional indemnity (PI) insurance facility for major construction projects. Designed for projects with an estimated construction value in excess...
Chinese Drywall: Builders, Subcontractors, Home Owners Facing Potentially Massive Uninsured Losses
Jun 15 2009 // Policy Exclusions Favor Insurers But Builders Can Be Protected General liability carriers specializing in contractor insurance for builders and drywall subcontractors are “sweating it out” over the potentially...
Chinese Drywall: Builders, Subs Face Huge Uninsured Losses
Jun 15 2009 // Policy Exclusions Are a Problem, But Builders Can Be Protected There is a lot at stake for all parties because the damages on a per house basis are likely to be astronomical. General liability carriers specializing in...
Construction on an Annual Policy
Jun 15 2009 // Coverage Triggers, Products/Completed Operations, and the Importance of Maintaining Continuity For many insurance professionals focusing on construction, any in-depth discussion of coverage triggers, prior-work exclusions...
Chinese Drywall: Builders, Subs Face Huge Uninsured Losses
Jun 15 2009 // Policy Exclusions Are a Problem, But Builders Can Be Protected General liability carriers specializing in contractor insurance for builders and drywall subcontractors (subs) are “sweating it out” over the...
Construction Projects at a Standstill
Jun 15 2009 // Risk Management Considerations to Help Protect and Preserve Properties on Hold In the current economic and credit crisis, construction entities — project owners, contractors, architects, engineers, material and equipment...
