Twenty-two million workers are exposed to potentially damaging noise at work each year. Every year, an estimated $242 million is spent on workers’ compensation for hearing loss. On top of that, businesses in the U.S. annually pay more than $1.5 million in penalties for not protecting their workers from noise. These financial losses represent an…
After severe storms and flooding, property owners are often dismayed to learn that their insurance policies don’t necessarily cover all of the damage. The most common point of confusion relates to water damage, which may or may not be covered by a standard policy, depending on how the water damage was incurred. It’s often up…
When unmanned aerial vehicles (UAVs) first became widely available to the public, they were viewed primarily as a toy for hobbyists. However, when the FAA released rules governing their commercial use in 2016, that ruling opened the door for a wide range of practical applications. Today, UAVs, popularly known as drones, are being used extensively…
Property owners and managers are well aware of the dangers of Hurricane Season across the Southeastern United States. We spend millions of dollars preparing for recovery and risk mitigation, and there’s no doubt a bad hurricane season can cause a lot of property damage. But the reality is that catastrophic events happen all year long,…
Drones, also known as unmanned aerial vehicles (UAVs), used to be just a fun toy for hobbyists. Today, they’re an integral part of the engineering and construction industry. They’re used on project sites, as well as in assessing property condition and evaluating damage. For insurance companies and insurance adjusters, this means you need to know…
Over the past five years, unmanned aerial vehicles (UAVs, also known as drones), have become increasingly common in the assessment industry. Among their many applications, one of the most valuable is in conducting roof assessments. When an insured roof is damaged, either by a natural disaster or human-caused incident, the insurance agent is one of…
When performing due diligence on a construction loan, lenders should always require a construction contract review as part of an overall plan and cost review (PCR). The contract, after all, is technically between the owner and the general contractor but, as the owner is also the lender’s borrower, it has tangible impacts on the associated…
Construction projects carry risks for everyone involved, from the owner to the general contractor to the lender. Good construction funds control is one of the ways that lenders mitigate financial risk during the construction process, and ensure a successful and on-budget project. What Is Construction Funds Control? Construction funds control is the process by which…
When it comes to construction loan consulting, many banks still operate on a one-off basis, with each individual branch or loan officer hiring whichever local contractor or consulting firm they prefer. This can work fine for small banks, but if your organization’s book of business spans beyond the geographic footprint of a few branches, you’re…
If you’re planning new construction for your business this year, you may want to hire an owner’s representative to protect your interests. Your owner’s rep will be your right hand in keeping your project(s) on budget, on schedule, and at the quality you expect. Be aware, however, that not all owner’s reps are the same….
