Category Archives: Construction

The Impact of Urbanization on Construction

urban density

Sharing information with colleagues is always a good strategy – and even better when it can be recorded and shared. Recently I had the opportunity to chat with Construction CEO for Willis North America Rick Hawkinberry to discuss urbanization, a … Continue reading →

Is the US Operational Insurance Market Immature in Comparison to Europe?

highway system

Launched in 1992, the UK Private Finance Initiative (PFI) has evolved to become a major source of funding for capital sector schemes across a wide range of government departments within the UK. To date, approaching 700 projects have achieved financial … Continue reading →

Construction Industry: Property/Casualty Market Review

Despite a decrease in 2014, net profit for the US property/casualty insurance industry has been on the rise since 2012. As better illustrated, net profits in the US property/casualty insurance  industry decreased 28.2% to $50.2 billion in 2014 compared to … Continue reading →

Architect & Engineer’s Professional Liability Insurance Limits

architect

A design firm’s professional liability (PL) risks are by far its greatest exposure – and its architects and engineer’s PL practice policy is by far its most important insurance coverage. While there is no hard-and-fast rule as to how much … Continue reading →

Should Architects & Engineers Agree to the “Defend” Obligation?

Anyone who has been tasked with negotiating an owner-drafted agreement has been faced with the obligatory defend obligation within the indemnity provision of the contract. And, anyone who knows better will always ask that this wording be struck from the … Continue reading →

See Dick Build, Watch Jane Sue: Go/No-Go Project Evaluation for Architects

Without a formal process of evaluating whether or not it makes good business sense to take on a given client and project, a design firm’s risks of having a claim increases significantly. Continue reading →

TRIA: Epic Fail

TRIA

Congress’ failure to authorize an extension of the Terrorism Risk Insurance Program Reauthorization Act of 2014, (TRIPRA) has the potential to create serious disruption for many businesses who depend on the backstop for property, liability, workers compensation and captive insurance … Continue reading →

Construction Trouble in the Empire State

Construction in New York State has historically been subject to a highly litigious environment. Continue reading →

Our Scariest Architectural Risk – being over and above the standard of care

Scariest risks 2014

An architect and engineer’s greatest exposure is by far his or her professional liability/errors and omissions. The good news is that a properly drafted A&E professional liability (PL) insurance policy should cover the design firm for everything it does as … Continue reading →

Scariest Risks of 2014

Scariest risks 2014

As risk advisors, WillisWire bloggers tend to think less of ghouls and goblins during the Halloween season than of the frightening real risks our clients face. This year they faced more than their share of new ones, with ISIS, Ukraine, … Continue reading →