While inspecting a skyscraper, a construction worker suffers a fatal fall. On a hot summer day, a worker suffers heat stroke and has to be rushed to the hospital. After years of work, a construction worker develops back pain and is forced into an early retirement. Construction has always meant dangerous work, but this doesn’t mean accidents like these are unavoidable: new technology has the potential to improve construction safety. At a time when costs are high and skilled workers in short supply, new tech could be a game changer.

Allowing ice dams to form on your roof can lead to major structural damage. Learn the signs of ice dams and steps to take to help prevent this winter hazard.

The construction industry has been thriving in 2022, but the year has also brought its share of challenges. Issues related to environmental impact, labor shortages, material costs, COVID, and safety are all top concerns for contractors. Let’s take a look back at the developments that have shaped the construction industry in 2022.

Company parties and events can boost morale and support teambuilding, but things sometimes go wrong. Here are some employment practices liability insurance (EPLI) exposures to avoid during work-sponsored parties, events and travel:

Inflation, supply chain issues, labor shortages, cyberattacks, natural disasters and rising jury awards and all key factors impacting the current state of the insurance market. Insurance rates continue to rise, but some lines are seeing higher rate hikes than others. Underwriting capacity is also varied across different lines and sectors.

A cyberattack can do more than disrupt your organization’s computer systems. The world has become increasingly dependent on the internet; at the same time, cyberattacks have become more sophisticated and damaging. As a result, cyberattacks can cause real-world disruption.

Over the past several years, commercial auto insurance rates have risen due to inflation, lower deductible requirements, and higher litigation, repair, and medical costs. According to the Commercial Property/Casualty Index from the Council of Insurance Agents & Brokers (CIAB), commercial auto coverage premiums saw an average increase of 8 percent in the last quarter, following 29 consecutive quarters of premium increases.

Forget about graveyards and spooky mansions. If you really want to see a scary location, look no further than the nearest construction site. According to the National Safety Council (NSC), construction can be considered the most dangerous industry in terms of workplace deaths. Watch out for the top dangers lurking around your construction sites.

Construction insurance rates have trended upward as claim values have increased, fueled by recent workforce upheaval, supply chain shortages, and record-high inflation. According to MarketScout Barometer, the contracting industry class experienced an average insurance rate increase of 6.2% in Q2.

Is your company as devoted to social causes as it claims to be? If there’s a discrepancy between what your organization claims and what you actually do, you could face litigation. Diversity initiatives could also result in claims of discrimination. DEI trends are creating exposures, and this is an area where businesses need to advance cautiously.