News and current information for our surety bond clients.
Unforeseen issues drove the cost to overhaul Encanto Elementary 30 percent over budget. The project’s contractor was facing financial problems at the same time of the cost increases; but the district is adamant that there’s no link between the company’s issues and the cost overruns. Read the article >>>
Times have changed. It once wasn’t unusual for a construction career to start and end with family. “You learned the skills, gained responsibility along the way and often ended up years later with ownership of the business,” said Kim Waseca-Love, education and apprenticeship director for the Spokane (WA) Home Builders Association. Tell me more >>>
Minnesota may be famous for its frigid winters, but contractors in the state are accustomed to that challenge. A bigger obstacle, and one they’re currently figuring out how to adapt to, however, is renewed strong demand that is straining resources, especially labor. Read the article here>>>
The city has notified the insurance company and contractor involved in the repair of the Washington Avenue sewer tunnel that it has a claim regarding grout that has been blocking the pipe since the work was performed, Kingston’s corporation counsel said. Tell me more>>>
National Underwriter’s Top 100 and Heads of the Lines lists – the data for which is provided by S&P Global Market Intelligence – today offer a look at which P&C groups are premium leaders in 11 key lines: Private Auto, Commercial Auto, Commercial Multiperil; Inland Marine; Workers’ Compensation; Product Liability; Fire; Ocean Marine; Surety; D&O; and stand-alone Cybersecurity. Read more …
The legal doctrine of implied fitness of design warranty, recognized by the U.S. Supreme Court, provides that a contractor bound to build according to plans and specifications prepared by an owner will not be responsible for the consequences of defects in the plans and specifications. United States v. Spearin, 248 U.S. 132 (1918). Responsibility will remain with the owner, even …
For decades, the gritty northeast San Fernando Valley has gone without movie theaters, playhouses, art galleries and production gizmos associated with high-tech Hollywood. No more. As builders put the final touches on a nearly $50 million Arts, Media and Performance center to open this fall at Los Angeles Mission College, administrators prepare to rock a cultural powerhouse designed for screen, …
It’s summer, which means home building should be heating up. But in many parts of the country, construction activity isn’t growing as fast as it could be — thanks to a lack of workers. The construction industry’s unemployment rate is at a record low. It was at 5.3 percent in May — the second-lowest rate since May 2000, according to …
When the Oakland Raiders received a $750 million commitment from the Nevada Legislature in October to help build their future home in Las Vegas, they also were directed to ensure the greatest possible participation by the local community in the design, construction and operation of the stadium. Read the full article >>>
The increase in private sector construction activity and low unemployment most likely means the states that lost construction jobs are having trouble finding enough workers amid the skilled-labor shortage, AGC Chief Economist Ken Simonson said in a release. Tell me more >>>
