Market Insights

Properties with EIFS have frequent reports of loss due to water damage. Here we discuss the importance of understanding your client’s financial exposure to specific EIFS risks and highlight the common exclusions that could potentially limit coverage.

The Commercial General Liability policy (CGL) is an essential factor in the equation that consists of building planning, financing, construction, operation, and protection from risk. Standard ISO form CGL policies contain an insuring clause subject to long-standing exclusions, which have been the subject of interpretation and case law over the years. This article focuses on the operation of the form’s exclusions j, k, and l.

Because no two construction projects are the same, builder’s risk policies and coverages can vary widely depending on the insurer. For retail agents and brokers to best serve their commercial construction clients, they need to be familiar with potential risk exposures and the optional coverages available to mitigate expenses in the event of a loss.

Careful review of the terms and conditions on a contractor's general liability policy is critical to ensure proper coverage and no unpleasant surprises when a loss occurs. This article explores 11 of the most common and challenging amendatory endorsements and exclusions.

This report provides an up-to-date market analysis of the Builders Risk industry, focusing on current market trends, impacts to capacity and pricing, as well as specific classes facing notable challenges. Learn more about the ongoing shift in market dynamics when compared to 2023, with increased capacity leading to more competitive terms and conditions.

While some segments are seeing softening, others face the hardest market conditions in decades. In this State of the Market report, Amwins specialists share market intelligence spanning rate, capacity, and coverage trends across lines of business and industries.

Many specific regulations make up the New York Industrial Code.​Here we explore the basics of several of New York's labor laws, including Labor Laws 240 and 241, as well as Labor Law 200. We also discuss the types of claims that can be filed under the laws and what to look out for when placing coverage for your clients.

The builder’s risk segment started seeing hardening conditions much later than the overall property market. Rate increases have now started to plateau in 2023, but they’re plateauing at higher levels than we’ve ever seen in this industry. This article explores the various factors impacting the builder’s risk market and how to achieve the best results for your clients.

While some segments are seeing softening, others face the hardest market conditions in decades. In this State of the Market report, Amwins specialists share market intelligence spanning rate, capacity, and coverage trends across lines of business and industries.

For decades insurers have treated construction defect lawsuits as a single occurrence within controlled insurance programs. Now, however, there is a growing trend among a small consortium of insurers to treat each alleged defect as a separate occurrence. Retail agents need to be aware of how definitions might be applied, so they can guide their clients and set appropriate expectations for coverages.

If your insureds are looking for ways to reduce the costs of workers’ compensation insurance and remain competitive when bidding jobs, mitigating risk with a safety program is a good place to start. This article will examine the top four construction-related injuries and some safety measures to prevent them.

On May 26, Florida adopted pro-industry bipartisan property insurance legislation that seeks to reform property insurance concerns in the state. The bills address fraudulent insurance claims and litigation, home hardening, and reinsurance assistance for insurers in an effort to inspire carriers to expand capacity and offer premium relief to property owners. This article examines some of the details of these bills.

​At a time when the industry is still experiencing construction delays related to ongoing supply chain issues and lack of manpower, the additional demands from the Infrastructure Investment and Jobs Act (IIJA) will present both challenges and opportunities for general contractors as well as the retail insurance agents and brokers who serve them. Now is a good time to look at market conditions and talk to your insureds about ongoing trends that are likely to impact future pricing for new projects.​

We are continuing to see a hardening trend in the property market, especially in difficult geographic areas, as carriers de-risk their portfolio by limiting their exposure to high-risk perils. With the impact of 5/1 domestic reinsurance treaty renewals now being felt, we’re reiterating some key points from our recent State of the Market report and bringing you a deeper look into the current conditions of the property market.

COVID triggered a series of events (and Mother Nature didn’t help) that spurred unprecedented supply-and-demand imbalance and price hikes in the lumber market. The impact on building products is well documented, but implications extend well beyond wallet woes at the Lowe’s checkout. Here, we take a look at key considerations for insuring woodworking operations and other property placements during this state of rapid change.

The Casualty market’s response to COVID-19 is continuously evolving. With a wide array of factors already impacting this sector pre-crisis, segments of the Casualty marketplace are responding to the pandemic differently. In this article, our industry specialists share overall themes in the Casualty market and take a closer look at how various segments are being impacted.

The COVID-19 pandemic is causing historical disruption to the construction industry. These changes mean that risk mitigation strategies need to be implemented or revisited, policy language should be reviewed, and carriers should be apprised of all changes at the work-site. In this article, AmWINS specialists examine the major areas of concern for Builder’s Risk insureds, including government-mandated shutdowns, supply chain-driven slowdowns and policy wording that could limit coverage, and provide guidance for retailers to achieve the best results for their clients.

​The use of controlled insurance programs (CIPs) in construction projects has become increasing popular in both the private and public sectors. CIPs provide insureds with many advantages, including streamlined risk management in projects where it would otherwise yield insufficient, inconsistent, or redundant insurance coverage. This articles examines the advantages and disadvantages of CIPs, OCIPs and CCIPS and when its makes sense to utilize them for your clients.

​While the inherent risk of bodily injury and property damage exists each time a contractor begins a project, the economic loss exposures are not always as apparent. The increase in the number of construction projects in the United States, coupled with the expanding roles and responsibilities of contractors, has created a perfect storm of exposure to economic losses for contractors within the construction sector. This article examines the Professional Liability policies available for contractors and how they would respond in common claims scenarios.​

The use of drone technology in the construction industry can revolutionize the lifecycle of a project and provide a contractor with a competitive edge. With the significant increase in the usage of drones, it's important that contractors employ sound risk management strategies and analysis in order to protect their business. This article explores the benefits of utilizing drone technology, associated risks, and legislative issues, as well as insurance coverages to consider.

Construction contract negotiations, which determine the kind and amount of insurance required for a construction project, can be time-consuming, complicated and frustrating. This article discusses four common ISO additional insured endorsements related to commercial general liability policies purchased by contractors, including their limitations, conditions and exclusions.

Ordinance or Law insurance coverage provides limited protection for costs associated with repairing, rebuilding, or constructing a structure when physical damage to the structure by a covered cause of loss triggers an ordinance or law. Compliance with ordinances and laws after a loss can add 50% or more to the cost of a claim. This article will help you educate your insureds on exclusions and limitations and help them take a proactive approach to their insurance program.

Owners and developers involved in construction projects must deal with the inherent risks involved with such projects. Their options are typically limited to avoiding, assuming, controlling/mitigating, or transferring the risk. This article addresses the most common risk transfer options.

During and after a construction project, commercial general liability and project-specific policies may not fully protect building owners against any and all risks faced. This article addresses two unique areas which should be carefully considered to ensure proper coverage.

Responding in large part to the increase in construction defect litigation, the state legislatures have enacted provisions to provide certainty and to limit the time in which a party may bring suit for a defect claim. In this article, we discuss the importance of understanding the applicable statutes of limitation and statute of repose for a given jurisdiction, as well as the interplay of those statutes with other provisions.

An evolving and dynamic area of law, “right to repair” statutes require homeowners to notify builders of claimed defects and to provide them with an opportunity to repair the defects before taking legal action.