Excavation contractors are trained professionals who typically perform a range of operations to prepare construction sites. They may provide residential or commercial services and conduct their work in multiple settings, such as office spaces and customers’ properties. Common tasks for excavation contractors include removing existing structures, vegetation and other debris to clear land for construction...
Several scenarios that businesses encounter in routine operations may expose them to litigation and general liability claims. A customer walking through a business could slip on a wet floor, or a piece of equipment could fall and damage a customer’s personal belongings. These and other incidents may lead to liability claims, disrupting operations and placing...
The commercial property insurance segment has been grappling with limited underwriting profitability and hardening conditions for much of the past decade, mainly due to surging catastrophe (CAT) losses, inflation issues and property valuation challenges. As such, ongoing premium jumps and restrictive coverage terms have become the norm for most policyholders. Shifting market dynamics helped ease...
February is Earthquake Awareness Month. It is a good time to make sure your property is protected against the impact of earthquakes. Even though earthquakes are seen as more common on the West Coast, earthquakes have occurred in 39 states. Consider implementing the following safety measures to protect your property from the impacts of an...
Vacant construction sites face the risks of theft, trespassing, fires and other hazards. Potential losses might include the value of damaged or stolen materials, the liability of an individual being injured on the property, and the costs of organizational disruptions if an essential piece of equipment is vandalized or taken. The insurance risks and liabilities...
The commercial construction industry is facing key risks and emerging challenges that impact project timelines, budgets and safety, according to QBE North America’s 2024 Commercial Construction Risk Report. The report, based on a survey of 500 commercial general contractors and construction managers, highlights cybersecurity threats, financial challenges, and labor shortages as significant concerns for the...
The spring of 2024 marks a turning point in the commercial property insurance market. After six years of challenging conditions, the market has transitioned and many buyers are now in a more favorable position. As with previous market spikes, this last hard market cycle saw limited capacity as carriers struggled to generate consistent returns on...
When properties are left idle or vacant, the risk of fire-related incidents increases. Therefore, implementing a comprehensive fire prevention strategy is crucial. This article explores essential fire prevention measures for idle and vacant properties to ensure the safety of the premises and minimize the risk of destructive fires. Fire Prevention Measures Businesses should consider the...
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