Risk Management
September 8, 2021
14 Important Factors Impacting Commercial Real Estate In 2021 And Beyond
Like nearly every industry, the Covid-19 pandemic has rattled the commercial real estate (CRE) sector. As businesses reopen, owners are being forced to make tough decisions, such as whether or not they should continue to rent office space. Consequently, landlords and other CRE investors may see a continued impact on their revenue stream. As experts...
August 27, 2021
Cyber Liability Coverage in the Construction Industry
In recent years, cyber incidents have surged in both cost and frequency. These incidents have become a pressing concern for organizations of all sizes and sectors—and construction companies are no exception. Although employers within the construction industry may think that their cyber exposures are minimal, this often isn’t the case. Rather, such vulnerabilities can come...
August 25, 2021
Premises Liability: Securing Evidence to Diminish Exposure
Premises liability is a legal concept that stems from circumstances where an injury is caused by an unsafe or defective condition on property someone either owns or occupies, and insured commercial property operators must understand the importance of gathering and preserving evidence when an accident occurs to help mitigate extremely costly claims. Whether the property...
August 23, 2021
Preparing for Open Enrollment With a Hybrid Workforce
With open enrollment season approaching, now’s the time for HR professionals to kick off their planning. Due to the pandemic—and employees’ desire for flexibility—many employers now find themselves with a workforce on a hybrid schedule. It’s imperative they make appropriate adjustments to lead a successful open enrollment period. As a flexible model designed to support...
August 19, 2021
Structural Issues and Aging Buildings
While modern building codes and structural engineering have made buildings extremely safe, facilities managers must maintain a high level of upkeep for them to remain that way. As buildings age, they can lose their structural integrity. As such, if simple repairs are left untended, they can balloon into bigger issues, potentially causing significant damage that...
August 16, 2021
OSHA Urges Employers to Require Vaccinated Workers to Wear Masks
The U.S. agency that regulates workplace safety issued guidance on Friday urging employers to require many fully vaccinated workers to wear masks to protect unvaccinated colleagues and customers, amid a surge in COVID-19 cases. The Occupational Safety and Health Administration (OSHA) recommended that workers wear masks “in areas of substantial or high community transmission,” such...
August 11, 2021
LIHTC Recapture Bonds: Top Questions Answered
We recently interviewed CMR’s Principal/President and Surety Practice Group Leader, Travis Pearson on the top questions that we receive regarding the LIHTC Recapture Bond. While the IRS no longer requires a disposition bond (IRS form 8693) to avoid tax credit recapture in the event of ownership disposition in a Low Income Housing Tax Credit Section...
August 2, 2021
Preparing Workers’ Comp for Future Pandemics
Intending to recognize additional catastrophic exposures on workers’ comp systems that can impact ratemaking, the National Council on Compensation Insurance (NCCI) is proposing that any event exceeding $50 million in losses be excluded from the data used to set rates, including future pandemics. Other than certified acts of terrorism, NCCI’s catastrophe provision only accounts for single-event losses...
July 28, 2021
Promoting Cybersecurity in the Expanding Digital Economy
At the initial onset of the COVID-19 pandemic, organizations across industry lines were forced to implement digital offerings in an effort to remain operational. This shift to predominantly remote activities—such as video chatting, online shopping, electronic payments and contactless deliveries, among others—changed the way consumers were able to receive goods and services. Specifically, the pandemic...
July 26, 2021
What Does Builder’s Risk Insurance Cover?
Builder’s risk insurance provides property coverage for buildings and structures that are under construction. If you’re a builder or a commercial property owner, you could face considerable monetary loss if something goes wrong with the construction of a building if you don’t have builder’s risk insurance. This coverage is also known as “course of construction...