The New York Compensation Insurance Rating Board recently announced another annual increase in the payroll limitation cap. For policies with an effective date on and after July 1, 2012, the payroll…
ALAE (Allocated Loss Adjustment Expense) Allocated Loss Adjustment Expense (ALAE) represent expenses directly attributable to settling and defending specific claims. These expenses include salaries of adjusters, legal fees, court costs,…
My company is performing a renovation project to a building that will initially contain some demolition and environmental remediation work. Do wrap-ups usually cover demolition/environmental remediation work? – Danny, Houston,…
A recently passed law in California, SB 474, will cause a significant change in contracts between parties involved in commercial construction projects. Currently, if the general contractor is not found…
T.R.I.A is The Terrorism Risk Insurance Act. It is a federal law that was signed in 2002, shortly after the 9/11 attacks. The Act requires the U.S. government to provide reinsurance coverage to…
What is the total percentage of payroll to work costs in a wrap-up project? – Lionel, Cleveland, OH Typically, total payroll to construction value percentage averages between 18 to 20%. …