Photo courtesy of Hilboldt
Excerpt from an article from Ahlers and Cressman: This article provides an overview of the difference between indemnification and being added as an additional insured to an insurance policy. For further information on indemnification provisions, follow these links to a few of our previous blog posts: Top 10 Construction Contract Provisions – Indemnity; Anti-Indemnity Statutes to Prevent Overreaching; and Amendment’s to Washington’s Anti-Indemnity Statute. Continue Reading
Excerpt from an article from Insurance Journal: Builders and contractors can expect another year of steady growth in 2016 and so can the insurance specialists that serve this rebounding market. Continue Reading
If you didn’t look too closely at the 2016 federal budget bill, which President Obama signed earlier this month, you probably missed a small provision that could have a giant financial impact on the construction industry. The U.S. Department of Labor’s Occupational Safety and Health Administration hasn’t made an upward adjustment of fines since 1990, and the new budget directs the agency to raise them and, on a yearly basis, keep them in line with the Consumer Price Index. The index has risen approximately 82% since 1990, so the initial change could see the dollar amount of OSHA fines skyrocket.
Excerpt from an article from Crane’s New York Business: Anastassios “Tommy” Intzeyiannis lived with his wife in a Howard Beach, Queens, apartment, where they were gearing up for their second wedding anniversary and trying to start a family. He was still close to his mother and two siblings, who lived in the Astoria, Queens, home where he grew up. They recall Tommy as a boisterous grill master whose patience with barbecued ribs paid off for anyone within smelling distance. At work for a concrete construction contractor, he earned the nickname “Chopsaw,” after the power tool. Continue Reading
Excerpt from an article from ForConstructionPros.com: Contractor default inflicts huge losses on everyone involved — on contractors and project owners alike, though in different ways — and can delay, and ultimately stop, a project. This is why surety bonds are put in place, to secure the successful outcome of a project. Almost all public construction projects, as well as a number of private construction projects, are backed by surety bonds. Continue Reading