Ready to Respond? Contractors' Best Practices for Performance Bond Claim Preparedness
- Claims, Insurance, Risk Management
- April 23, 2024
By Patrick Hogan, handle.com With Q4 upon us and the following year just around the corner, keeping a close eye on how credit is extended and managed will be vital to setting up for success. Subcontractors must stay on top of their credit management practices to protect cash flow and keep things running smoothly. At
READ MOREBy Patrick Hogan, handle.com Safety in construction extends beyond physical hazards. With the increasing reliance on digital tools and technology, safeguarding a company’s data is critical. As cyber threats and poor digital security can lead to data breaches and operational disruptions, protecting digital assets has become as essential as ensuring physical safety on the
READ MOREBy Gina Lockwood, Esq., Merchants Bonding The frequency and severity of claims ebbs and flows, dependent on a variety of economic influences. But whether claims are on the rise or on the decline, contractors should always understand a surety’s claims process, and have the right practices in place to mitigate potential impacts of a claim.
READ MOREBy: Benjamin Lajoie, McGlinchey Stafford PLLC Disputes between contractors, subcontractors and/or owners are relatively common in the construction industry. Although you should not appear over-eager in rushing into a settlement to avoid the time, costs, and stress that comes with protracted litigation, when settlement appears likely and in your company’s best interests, full attention to
READ MOREBy Claire Wilson, Siteline Today, artificial intelligence (AI) technologies are everywhere, impacting various industries and transforming how we live and work. While the construction industry has been slower to adopt AI than other sectors, it’s still making progress toward leveraging the benefits of this transformative technology. But to unlock AI’s full potential, our industry must
READ MOREBy Josh Weiss, 10to1pr Artificial intelligence is powering a broad range of tools that can build incredible efficiencies in the construction industry. In the right hands, AI can be used to reduce costs, identify safety hazards, monitor quality control, and solve administrative scheduling issues. In the wrong hands, AI can be used to create deepfakes
READ MORE