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construction

July 19, 2023

OSHA Expands Injury and Illness Submission Requirements for Employers in High-hazard Industries

On July 17, 2023, OSHA announced a final rule that will require certain employers in designated high-hazard industries to electronically submit additional injury and illness information than what is currently required but employers are already required to keep. The final rule will become effective on Jan. 1, 2024. Injury and Illness Submission Expansion Overview OSHA’s...

June 26, 2023

Tips for Safe Operation of Corded Power Tools

Corded power tools are useful for several types sizes of projects. They also can be more accurate and efficient than hand tools. However, corded power tools can also present serious safety hazards when not used correctly. Below are tips to help keep you safe while working with them. Types of Corded Power Tools Corded power...

June 13, 2023

Construction Industry’s Rebound Brings More Opportunities, But Also More Risks

The construction industry is rebounding after significant challenges during the pandemic, but more opportunities also come with more risks, an insurer has warned. Selective Insurance, a commercial business insurance carrier specializing in construction firms, has forecasted that more single-trade contractors will expand their business into multiple trades or general contracting to cope with growing demand...

May 24, 2023

How Mindfulness Keeps Construction Workers Safer

It’s easy to understand why construction workers have stressful jobs. They’re working on tight timelines, often on projects that need to be structurally sound so that people can live and work in their buildings. This responsibility can be taxing on workers’ mental health. A 2020 study found that 83% of construction workers had experienced a moderate to...

May 17, 2023

Inflation, Labor Challenges Are the Biggest Risks Facing Construction Sector

Inflation’s impact on materials and labor challenges continue to be the biggest operational risks facing the construction sector, according to Selective Insurance’s General Contractor Risk report. “Construction is an inherently high-risk industry given its exposure to and reliance on macroeconomic factors, such as commodity pricing, supply chain, labor dynamics, and housing demand,” Jim Albi, assistant vice president,...

May 16, 2023

June is National Safety Month

June is National Safety Month. This month highlights efforts that can prevent injuries and death inside and outside the workplace, helps provide learning opportunities for employees, allows employers to share their safety pride and gives employees the opportunity to pledge they will work safely. Preventable injury-related deaths are the fourth leading cause of death in...

April 26, 2023

How to Handle Construction Equipment Spending in 2023

Business owners need to be careful with their spending and managing their balance sheets during 2023, to avoid the pitfalls of inflation and overspending. It is still a bit nuts out there. The economic and construction ball just keeps going up and down, up and down. What all this tells me, from a financial perspective...

April 19, 2023

Trenching and Excavation Safety

It is essential to implement safety measures during trenching and excavation work to help prevent serious injuries and deaths. Especially considering the recent rise in fatalities and penalties involving this type of work, construction employers need to ensure they utilize proper risk management techniques. OSHA Penalties OSHA recently announced new enforcement guidance to deter employers...

April 6, 2023

Searching For a Surety Partner? Look For Someone Invested in Stability for the Years to Come

While insurance products exist to help an insured in the event of a loss, surety bonds are purchased so that a customer can guarantee their work on a particular project will be completed within a certain timeframe and at a reasonable cost. Bonds support everything from a guarantee that a construction project will be completed...

April 3, 2023

Growing Construction Costs Driving Commercial Property Coverage Gap

Growing costs for construction materials and labor could be driving commercial properties to be undervalued by as much as 30% for underwriting purposes, according to Tüv Süd Global Risk Consultants Corp. A disconnect between reported values and actual values can result in a coverage gap for a commercial policyholder. From November 2021-November 2022, the cost of...