And, the World Trade Center attacks are likely to cost insurers $40 billion to $50 billion. The soft insurance market with easy terms and rates lasted 17 years instead of the usual five to six-year cycle, so "people have not been through a really hard market," says William Mclntyre IV...
The duration of your policy:If you have builders risk coverage for a project that is going to take you more than a year to complete, for example, then you will have to pay more for it. If you decide to buy construction insurance for a project that you have already started prior to ge...
Equipment breakdown insurance: If your machinery is not working properly, it can put a halt to your construction job and you risk missing deadlines. This coverage can assist you with the costs of maintenance and repair, and even provide you with temporary rental equipment while yours is being f...
Transfer the risk: A contractor can pass the risk on to another party through the construction contract or with an insurance program. 4. Recover losses When a loss occurs, the company should seek to recover damages and limit. Loss recovery and mitigation can take a number of different forms,...
However, construction projects vary greatly in terms of complexity and size, so there’s not a one-size-fits-all approach when it comes to construction contracts. That’s why several types of construction contracts have been developed, such as lump sum, cost-plus, time & materials (TM) and...
The Problem with the Insurance Industry Renewing Your Insurance Shouldn’t Be a Mystery! But if you don’t know what to watch out for — it will cost you! Inflated Premiums on Your Renewal Quotes Over 95% of US businesses are paying inflated insurance premiums. ...
and construction contracts. The size of the projects we work on ranges from two thousand dollars to over $12 billion. Our clients include insurance carriers and insurance brokers who retain us to review the contracts of their insured design professionals. We are also retained directly by design ...
All Africa Asia Pacific Latin America Middle East North America UK & Europe Lead counsel to Suez Industrial Development Company (SIDC) Advising as lead counsel to Suez Industrial Development Company (SIDC), a majority-owned subsidiary of Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS), on...
Marsh McLennan Agency, a subsidiary of Marsh, reported it has acquired AC Risk Management (ACRM), an independent commercial lines brokerage based in Melville, New York. Terms of the acquisition were not disclosed. Founded in 2012, ACRM primarily offers property/casualty insurance … ...
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