For decades, the link between asbestos exposure and serious health issues has been well known. And asbestos litigation – the largest mass tort in U.S. history – isn’t showing any signs of slowing down.
Of all the challenges you face as a project owner or contractor on large construction projects, your New York construction insurance is likely one of your biggest and costliest headaches. With multiple subcontractors, suppliers, and insurance companies involved, you can find yourself dealing with unexpected coverage gaps, lapsed policies, or inadequate limits. And when a claim comes up, things can get complicated and expensive in a hurry.
St. Patrick’s Day may be just around the corner and you may be feeling lucky, but wearing green and carrying a four-leaf clover won’t protect you from this threat: wage and hour litigation. It’s one of the fastest growing and costliest threats to your construction business in recent years, and many experts think it’s the biggest employment litigation threat to American businesses today.
It’s a tough time to be in the construction business in New York. All across the state, it’s an industry in crisis.
Construction projects and their environmental exposures are more complex than ever. All too many contractors gamble with their bottom lines – ignoring environmental exposures because claims are not frequent. But here’s the kicker – while these incidents may not happen frequently, they are very expensive. Cleanup and remediation can quickly eat up profits.
As another year winds down, analysts are weighing in on what’s been happening in the construction market this year and what 2014 might bring. Here are some of the highlights:
You’ve invested a lot of time, money, and hard work into building your construction and contracting business, and having the right New York business insurance coverage is a crucial part of protecting that investment.
Tags: construction insurance, New York construction insurance, new york business insurance, New York workers compensation insurance, excess liability, New York contractors insurance, new York professional liability insurance, builders’ risk
The energy crisis of the 1970s was the dawn of a new age of urgency in the search for more environmentally friendly building solutions, bringing “green” building practices out of the research lab and onto the jobsite.
Out of all the risks you face in your construction business, your vulnerability to a cyber attack probably isn’t at the top of your list. After all, you’re not likely selling products and services over the Internet like a retail store, so why would you think about including cyber liability insurance in your New York construction insurance coverage?