Provost says certain insurance carriers are taking a harder stance and putting absolute exclusions that they will not pay any property damage during the course of construction. The employee was driving a tractor leased to the contractor by another company. Captive Directions The hardening insurance market, rising rates, and uncertainty in pricing and coverage have created a greater demand for construction captives. WHAT'S INSIDE • Experiencing an Excess of Concern as Rates Rise • Overcoming Rate Escalation With Early Negotiations • Aligning With Seasoned Underwriting Professionals • Acknowledging the Unknowns to Move Forward With Success • Preparing to Remain Profitable During Changing Times Contractors and Insurers Experience an Excess of Concern as Rates Rise While construction spending is on the rise in many markets, concerns remain moving forward that are having a direct impact on insurance policies. [Extracted from the article]
Copyright of ENR: Engineering News-Record is the property of BNP Media and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
