Builder’s Risk Insurance Can Mitigate Effect of Catastrophic Event

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Hurricane Harvey caused severe destruction in Texas with its significant winds and historic rainfall. But Harvey may also prove to be a costly lesson for many project owners and contractors. As Texas begins to focus on recovery in the coming weeks, Harvey will further serve as a reminder to all construction industry stakeholders that hurricanes, and other “acts of God”, …

Where Will Houston Find Enough Workers for Major Cleanup, Construction?

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The disaster that is Tropical Storm Harvey is still ongoing. It will be some time before the waters recede and the effect on Houston can be fully assessed. But it is already clear the damage to property will be immense. Tens of thousands of structures were impacted by floodwaters. Eventually, Houston will require massive cleanup, demolition, and reconstruction of individual …

Surety Industry Leaps Forward With Financial-Data Standards

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Construction surety is about to get significantly more sure. Two trade groups, the National Association of Surety Bond Producers (NASBP) and the Surety & Fidelity Association of America (SFAA) are working with two standards-setting organizations and several underwriters to develop a whole new online protocol. Read more here >>>

Contractor: Success Stems From Timely Job Completion, Business Investment

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The Great Recession delivered a knock out punch to many African-American-owned construction companies but Steven Garth Sr.’s Chicago Heights company was not among them. Garth, 72, is founder and CEO of Garth Construction Services Corp. and chairman and a co-founder of Black Contractors United, which assists and advocates for African-Americans in the construction industry. Tell me more >>>

Kansas City Eyes Bond Requirement for Subdivision Developers

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The Manhattan City Commission will discuss a draft resolution Tuesday that would require subdivision developers to make upfront security payments for benefit district work. The work session starts at 5:30 p.m. at City Hall. The commission will discuss this draft as the city seeks ways to reduce risks associated with benefit districts being used for residential subdivision development. Tell me …

Private Owners, Firms Might Have to Invest More in Construction-Labor Education

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Ask commercial developers in a major market to name their biggest challenges, and the rising cost of construction will be at or near the top of the list. But while the complaints have grown louder in recent years, the underlying problem has been decades in the making, and the current administration’s policies only figure to make it worse. Read the …