Higher Construction Costs Lead to Increased Insurance Rates

Higher Construction Costs Lead to Increased Insurance Rates

The construction industry is facing their share of challenges lately. COVID-19-related shutdowns are causing ongoing product shortages. Supply chain disruptions are making it difficult to secure materials and leading to project delays. Soaring inflation is causing construction material prices to skyrocket by as much as 26.7%—which is having a...

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The Benefits of Owner-Controlled Insurance Programs

The Benefits of Owner-Controlled Insurance Programs

Owner-controlled insurance programs (OCIPs), also known as “wrap-ups,” are insurance policies taken out by a property owner during a construction or renovation project. Wrap-up policies offer numerous benefits to the insured, including cost savings, better coverage, more control, and more efficient resolution when incidents occur.  An OCIP...

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The Infrastructure Investment and Jobs Act and Its Impact on Insurance

The Infrastructure Investment and Jobs Act and Its Impact on Insurance

The Infrastructure Investment and Jobs Act (IIJA) marks one of the most significant physical infrastructure investments in the U.S. in more than five decades. It will lead to a growing number of projects and jobs across multiple industries. The insurance industry will need to be armed and ready to provide appropriate policy coverage for the...

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The True Cost of Inflated Lumber Prices

The True Cost of Inflated Lumber Prices

Homeowner-hopefuls dreaming of their forever home may have to put those dreams on hold—or spend more than initially anticipated. Lumber shortages over the past 18 months and low housing inventory have made buying or building a new home far more expensive than what any of us could have predicted at the onset of 2021. And although some of the...

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Why Workers’ Compensation COI Programs are Essential for Construction Clients

Why Workers’ Compensation COI Programs are Essential for Construction Clients

Certificates of Insurance programs are the cornerstone of Workers’ Compensation protection in the construction business. A Certificate of Insurance (COI) is a form that provides proof of an active Workers’ Compensation policy. The document specifies a variety of details such as the policy holder, insurance provider, and the dates of active...

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3 Common Risks Construction Professionals Face

3 Common Risks Construction Professionals Face

Contractors, construction workers and other professionals in this sector are no strangers to environmental, seasonal, and physical risks. The same liberties and perks that attract many people to this industry, including winters off and being free of the confines of an office, pose some significant risks. In this article, we’ll cover the most...

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Jencap offices will be closed Monday, July 4th in observance of Independence Day.