As a result of increasingly popular design-build scenarios, the efforts of general contractors have intertwined with design professionals, which can lead to extremely complex, costly and timely liability issues.
As the U.S. construction market stays strong, builders risk insurance pricing has gotten more and more competitive. But are losses starting to catch up with rates?
Working in the builders risk market gives independent agent Shyla Lankford a sense of accomplishment. “Being able to watch the progress of a project go from empty land to a beautiful building and knowing that you were a part of that is exciting and fulfil
What many contractors don’t understand is that a surety bond doesn’t protect the contractor. It protects the project owner from loss by the surety if the contractor fails to fulfill their obligations.
Independent agent Frances Blanks started her agency when the chief judge of the county probate court asked her for help. “I put everything together—the companies, space and everything necessary to run a business,” she says.
When providing a client with a builders risk policy, it’s important to read the coverage forms carefully. Here are three crucial builders risk definitions that vary by policy.
The U.S. construction industry generates nearly $1 trillion worth of structures each year—and that translates to big opportunities for your builders risk insurance book in 2018.
Independent agent Shelli Lucus-Kennedy comes from a family of developers. “I speak builder,” she says—and that has helped her carve out a significant niche in the construction industry over the course of her 40-year insurance career.
Although agents work hard to avoid facing errors & omissions claims, many are not aware of potential issues that can arise when handling bonds. Here are some common surety-related missteps that can create E&O exposures—and how to avoid them.
After working in the auto dealership business for 12 years, Shawn Gustafson needed a change. He never guessed the surety business would be the perfect fit.