N.H. bill would require $10M bond for autonomous vehicle testing | Avoid legal risk when hiring in tight construction labor market | Calif. Insurance Dept. plans to admit more marijuana insurers
April 18, 2018
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Industry News
N.H. bill would require $10M bond for autonomous vehicle testing
N.H. bill would require $10M bond for autonomous vehicle testing
A bill in New Hampshire would require companies that want to test autonomous vehicles in the state to post a $10 million surety bond. The measure has gained the state House's approval.
Union Leader (Manchester, N.H.)/New Hampshire Sunday News (4/14) 
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Avoid legal risk when hiring in tight construction labor market
Construction companies looking to hire in a tight labor market must know how to avoid legal risk, attorneys write. Among the issues to watch out for are increased liability, differing state labor laws and potential immigration audits, the attorneys write.
JD Supra/Buchanan Ingersoll & Rooney (4/13) 
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Calif. Insurance Dept. plans to admit more marijuana insurers
Calif. Insurance Dept. plans to admit more marijuana insurers
(Robyn Beck/AFP/Getty Images)
The California Department of Insurance plans to admit at least two more insurers that plan to write policies for the marijuana industry. The move comes despite the fact that some insurers are exiting the business after a warning letter this year from Attorney General Jeff Sessions.
Business Insurance (tiered subscription model) (4/17) 
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Risk & Compliance
Exec: Trump push for 2-year infrastructure project environmental review ambitious
The Trump administration wants to reduce the approval time for major infrastructure projects to two years by using a "lead" agency to handle environmental impact statements and records of decision. A construction trade group executive called the plan "one of the most ambitious steps" he's seen with regard to project delivery.
Engineering News-Record (4/9) 
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Leadership & Best Practices
Author: Agents' branding strategies should adapt to customer preferences
What most insurance agents consider to be good customer service needs to change to ensure it's in line with what customers want, says an insurance branding expert and author. To improve, agencies need to have a written brand strategy and invest more in traditional and digital marketing efforts, the author says.
PropertyCasualty360 (4/17) 
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Association News
NASBP Blog: Five important risk-shifting provisions bond producers and their construction clients should be aware of
NASBP Blog: Five important risk-shifting provisions bond producers and their construction clients should be aware of
Walters (Smith, Currie & Hancock)
Whether you are a bond producer, owner, contractor or subcontractor, success in the construction industry is largely an exercise in risk management -- and construction contracts serve as a powerful tool to allocate those risks across parties. That is why it is so important to understand their intricacies. We asked Scott Walters, an attorney at the law firm of Smith, Currie & Hancock and a participant on the NASBP Attorney Advisory Council, to weigh in on common risk-shifting provisions within construction contracts. Read more.
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NASBP Virtual Seminar examines impact of steel and aluminum tariffs on contractor pricing
Join us for the April 24 NASBP Virtual Seminar, "Impact of steel and aluminum tariffs on contractor pricing," at 2 p.m. Eastern. Presenters Lori Ann Lange and Levi Barrett of the law firm of Peckar & Abramson will address the legal and contractual issues that contractors might face as a result of price increases caused by the tariffs. This is an exciting opportunity for surety professionals to host a NASBP Virtual Seminar for construction clients or to share the information on how they too can register to participate. Register.
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Download the 2018 Annual Meeting App now
The 2018 NASBP Annual Meeting Mobile App for the Annual Meeting from April 29 to May 2 in Scottsdale, Ariz., is now available to download. The Mobile App, once again, will offer convenient, fun and practical features. Stay informed with up-to-the-minute changes and alerts, view photos uploaded by staff and fellow attendees, and have the most current attendee list close at hand by downloading this must-have application now. Anyone with an iPhone, Android or Blackberry smartphone or an iPad, Android-based or Blackberry tablet can download the 2018 app from the iTunes and Google Play stores. Remember that the passcode for the attendee list is nasbp2018. If you haven't already, be sure to register for the NASBP Annual Meeting & Expo now. For more information on the meeting program, hotel options and other activities in Scottsdale, visit NASBP's website. Download the 2018 Annual Meeting App now.
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Trends & Technology
Tariffs may lead projects to be delayed, canceled
Tariffs on steel and aluminum could severely affect the construction industry, which already is dealing with price increases for other materials, the chief economist for a construction trade group said. The increased costs could lead to a shortage of supplies, which could cause the delay or cancellation of some projects, construction officials said.
Construction Equipment Guide (4/10) 
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Opinion Poll
Is your company changing its culture to address generational differences in and preferences of its employees?
Yes  64.29%
No  21.43%
Not sure  14.28%
What is the biggest risk factor for contractors to consider when hiring in this market?   
VoteIncreased liability
VoteDiffering state labor laws
VotePotential immigration audits
VoteNot hiring
VoteNot sure
Change your opinions, keep to your principles; change your leaves, keep intact your roots.
Victor Hugo,
poet, novelist and dramatist
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Founded in 1942, NASBP is the association of and resource for surety bond producers and allied professionals. NASBP producers specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds.
Contact NASBP
National Association of Surety Bond Producers
7735 Old Georgetown Road, Suite 900
Bethesda, MD 20814

Phone: 240-200-1270
Fax: 240-200-1295

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