Contractor liability insurance avails financial protection in a wide array of scenarios where your business accidentally causes harm to another person or their property. If your business is sued for ...

This article is part of a sponsored series by IAT. The construction industry faces a new set of challenges each year, and 2024 is no exception. Although 2023 saw a 19.7% surge [1] in spending for ...

It is critical for contractors to understand the insurance requirements in construction contracts, as these projects carry very high levels of liability and risk. Construction involves moving ...

If you’ve ever retained a home-improvement contractor, you’ve almost certainly received enthusiastic assurances that he or she is “licensed and insured.” But what exactly does that mean the context of ...

What is the difference between general liability insurance and professional liability insurance, and which does your business ...

Construction business leaders know how quickly market conditions can shift. Tariffs, labor shortages, and inflationary pressures are changing the cost of doing business, while technology and legal ...

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Myles is a former senior insurance editor for Investopedia. He oversaw the strategy ...

A home builder is not covered under the property damage coverage in its commercial liability policy for construction defects for which it was responsible. A three-judge panel of the Massachusetts ...

While general or prime contractors have always faced the risk of liability for the actions or inactions of their subcontractors, an increase risk of state statutory liability for certain actions and ...

Fundamentally, the construction manager is responsible for the performance of the work in accordance with the contract documents, consisting of: the CMA; the plans and specifications prepared by the ...

Product liability and construction defect claims are merging, with plaintiffs alleging health risks from materials and long-term exposure. This increases insurer risks across multiple parties and ...