After a tough year, the U.S. economy is continuing to show signs of recovery. Coronavirus cases are falling, vaccination numbers are still rising, unemployment claims are down, business investment is up, and confidence among corporate leaders is high. Economists surveyed by the Federal Reserve Bank of Philadelphia predicted U.S. output will increase 4.5 percent this year, which would make it the best year since 1999.
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Here at BNC Agency, we’re keeping our finger on the pulse of the issues impacting the New York construction industry. Here are some of the latest developments to watch.
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It’s become an age-old question: Does defective workmanship constitute an "occurrence" for purposes of coverage under a CGL policy? It’s been an issue shrouded in fog and an ongoing battle in the courts for over 20 years. And in just the past two years, that battle has been heating up.
Tags: New York construction insurance, new york construction industry, construction defect claims, cgl policy
With costs continuing to rise in every aspect of the construction industry, contractors are scrambling for ways to cut those costs. And since insurance is one of their biggest expenditures, many are adjusting their coverage in an effort to reduce their premiums.
Tags: New York construction insurance, New York insurance, Milbrandt Insurance, new york contractor insurance, new york construction, new york construction industry
