New York has hit the pause button in an attempt to stop the spread of COVID-19. On March 20, Governor Cuomo signed the New York State on PAUSE Executive Order. Under the order, all non-essential business is required to close beginning 8:00 p.m. on March 22. Although some construction is allowed to continue, construction managers must ensure that all necessary precautions are being taken. Otherwise, both the workers and the larger community may be put in danger.
Read MoreTags: construction risk management, coronavirus, COVID-19, Coronavirus risk management
From 2012 through 2016, three hundred twenty-five U.S. contract workers died as a result of electrical injuries. And construction trade workers represented a whopping 57 percent of fatal electrical accidents during that time.
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Using a ladder may seem like the easiest way to do construction work at high levels, but it’s not necessarily the safest. This is why many experts support “ladder last” policies, and Nationwide is now requiring our contractors to implement a ladder last program.
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Did you know your chances of having your heavy equipment stolen are twice as high as having it damaged by natural disaster and five times higher than having it damaged in an auto accident? According to the National Insurance Crime Bureau’s 2014 Equipment Theft Report, the cost of equipment theft to U.S. companies is estimated to be anywhere from $300 million to $1 billion every year, maybe more. The problem is so widespread, there’s no single, complete database of all losses.
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For the construction industry, it’s a good time to go green. According to the World Green Building Trends 2016 survey by Dodge Data & Analytics, green building is doubling every three years. Survey respondents projected that more than 60 percent of their building projects would be green by 2018. And Navigant Research estimates the worldwide market for green building materials will be greater than $254 billion by 2020.
Read MoreTags: construction risk management, green construction, green building
During the Great Recession, many contractors were forced to cast wider nets, venturing into new territories and taking on new types of projects. Others left the construction industry altogether. Now, opportunities are plentiful in New Jersey and New York, but finding tried and proven subcontractors and suppliers can be challenging.
Tags: New York construction insurance, construction risk management, New Jersey construction insurance, construction defect exposures
Falls from height continue to be one of the leading causes of injuries and deaths in the construction industry. The statistics are pretty sobering. According to Bureau of Labor Statistics (BLS) data, almost 9,000 construction workers across the country experienced a fall that caused them to miss work in 2012. The number of fatalities from falls in construction actually increased from 2011 to 2012, and accounted for 269 of 775 fatalities reported in 2012.
Tags: New York construction insurance, construction risk management, new york contractors, construction safety
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:
Tags: construction insurance, business insurance, construction market, construction risk management
