Risk Management
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...
July 14, 2021
OSHA Actions Impact the Construction Industry
The Occupational Safety and Health Administration (OSHA) is planning to take actions that will directly impact employers in the construction industry. Among the most prominent are the proposed amendments to the Hazard Communication Standard (HCS) that are being designed to conform to changes in the United Nations’ Globally Harmonized System of Classification and Labeling of Chemicals (GHS)....
July 8, 2021
Five Ways Nonprofits Can Improve Cybersecurity
Nonprofit (or not-for-profit) organizations operate by paying employees a fair wage but utilize donations, volunteer work and government support to fulfill their mission. In many cases, they have slim budgets and little funding for the cybersecurity solutions that many businesses take for granted. Since nonprofits might not have the funding to implement the latest cybersecurity defensive...
July 7, 2021
Managing Re-entry Anxiety Related To The COVID-19 Pandemic
With the COVID-19 vaccine becoming much more widely available across the country, the topic of returning to in-person work, school and other activities is being discussed constantly. The reopening of the country, though, comes with some uncertainties and may lead to feelings of re-entry anxiety. What Is Re-entry Anxiety? Re-entry anxiety is an overall uneasiness...
June 28, 2021
Preventing Theft at the Construction Site
Job site theft has become a rising concern for construction employers across the country—resulting in the loss of valuable equipment and materials. In fact, the latest research revealed that such theft currently accounts for an estimated $1 billion in annual costs throughout the construction sector. What’s more, overall losses related to construction site theft have...