April 14, 2022
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Surety & Insurance Market Trends
Project data takes on added importance among brokers
(SOPA Images/Getty Images)
Insurance brokers need to focus on communication with construction industry clients and the collection of data from job sites, according to an expert. Such information must be "communicated properly to the underwriters so that they're hearing the real risk" and taking into consideration the various technologies used on job sites, the expert says.
Full Story: Insurance Business America (4/7) 
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Rate increases for errors-and-omissions and cyberinsurance coverage in the first half of 2022 likely will be "comparable to the second half of 2021," with more stability possible in the latter half of this year, Aon says in a report. Insurers in the two markets likely will "continue to bring new scrutiny, applications and underwriting questions into the placement process," the report says.
Full Story: Business Insurance (4/12) 
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Build with Confidence
Incomplete information and looming litigation have, unfortunately become accepted ideals in the construction industry. Imagine solving construction chaos and litigation while moving construction into the current digital age with information governance. Learn how MySmartPlans makes your construction process completely transparent, organized, and ready for the lifecycle management of your project. Contact us today for more information.
On the Radar Screen
The number of cranes in North America's major cities rose between the third quarter of 2021 and the first quarter of 2022, which is a sign of construction health, according to the Rider Levett Bucknall crane index report. Five cities had an increase, with Los Angeles' 51 cranes representing 10% of the total. The trend is unlikely to continue, according to the report.
Full Story: Construction Dive (4/8) 
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Construction Contract Terms & Conditions
Subcontractors pursuing federal contracts in light of the wave of opportunities coming under the bipartisan infrastructure law should be wary of "some very risky clauses," writes Karalynn Cromeens, owner of The Subcontractor Institute. Subcontractors needed to know that they cannot file liens on federal projects, that federal projects often require bonds and that they are often slow to deliver payment.
Full Story: Construction Citizen (4/5) 
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Captain, a startup that offers no-interest bridge loans to contractors, aims to help contractors rebuild properties before receiving insurance settlements. "We decided we need to really speed up that overall recovery process, but then simultaneously, make sure that we're building back better, a more resilient housing stock," said Demetrius Gray, CEO and founder of Captain.
Full Story: MarketWatch (tiered subscription model) (4/11) 
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Protocols & Procedures
The pandemic model of hybrid work at home and in the office for major builders is expected to carry over, taking advantage of new technology to reframe schedules and hiring. Zachary Phillips explores two models that are emerging, one in which workers go into the office several days a week and the other in which workers are remote but occasionally choose to visit cafe-like work hubs.
Full Story: Construction Dive (4/7) 
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Legal Compliance
Design and construction contractors on General Services Administration projects that involve at least 10 cubic yards of concrete or asphalt must provide environmental product declarations when possible and use concrete with production emission levels 20% below national averages for compressive strength classes. The rules are informed by the results of survey of more than 130 industry representatives, and more than 60% of concrete manufacturers who participated in the survey said they have developed a product-specific EPD.
Full Story: Concrete Products (4/8) 
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Project Focus
Progressive design-build is beginning to make headway in the transportation sector, with special advantages seen in complex, schedule-driven, phased construction. Experts speaking at the Design-Build Institute of America's annual transportation/aviation conference explain and give examples of PDB, which involves a two-phase, qualifications-based selection process in which the engineer, contractor and owner form one team.
Full Story: Engineering News-Record (tiered subscription model) (4/11) 
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Denver is set to experience an unprecedented surge in new construction projects, but contractors looking to take advantage should be mindful of the city's construction licensing restrictions, which can create obstacles for workers from outside areas, writes Iain Smith. "In addition to the normal ICC contractor licensing and examination, Denver requires contractors to first obtain a Denver supervisor's certificate issued by the city's Community Planning and Development division, which certifies that the applicant has experience in the relevant trade," Smith writes.
Full Story: Levelset (4/11) 
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AGC News
For more than two years, the U.S. construction industry has been buffeted by unprecedented increases in material costs, supply-chain bottlenecks, and a tight labor market. AGC's Construction Inflation Alert is intended to help owners, public officials, and others understand what contractors are experiencing. It also outlines steps owners and contractors can take to adjust to the fast-changing market conditions. The April 2022 edition--the 7th since early 2021--includes information on the impact of the war in Ukraine on recent increases in materials costs and supply delays. Learn more.
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AGC is holding its annual Construction Safety Health and Environmental Conference on July 26-28, 2022, in Washington, DC. AGC is excited to welcome SH&E professionals to this in-person event. Visit the conference website to view the special events, and make your travel arrangements. AGC is making exciting changes to the environmental offerings beginning this year. Learn more.
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