Between labor shortages, supply chain delays, interest rate hikes, and building valuation increases, It hasn’t been the easiest year so far for building contractors. The cherry on top has been insurance carriers issuing significant rate increases and cutting coverage for many of their insureds. Jencap has a few ways that you can support your...
Do you have clients who want to challenge certain Workers’ Compensation claims by citing employee misconduct? According to this recent Business Insurance article, if employers want to challenge federal citations for workplace safety violations, they must demonstrate that they: Provide proper training. Document the organization’s workplace...
Green construction is growing, as companies strive to create more sustainable, energy-efficient, resilient buildings. As this article outlines, however, sustainable construction projects use new technologies, materials, and construction methods that create unforeseen challenges and risks: Most sustainable production plants use emerging...
Suppose your client’s construction company hired subcontractors to help renovate a multimillion-dollar home. During the renovation process, the arborist your client hired cut down a tree that fell the wrong way, causing extensive damage to the house. The homeowner sues your client for the damage. Even if your client has General Liability...
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...
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...
For businesses that utilize subcontractors, Contractor General Liability (CGL) insurance is an absolute necessity. If a subcontractor hired by your client’s business causes damage, your client’s business can be on the hook for financial compensation to the injured party - this is where CGL insurance comes in. CGL insurance coverage protects your...