Gregory A. Eichorn | Peckar & Abramson From grand designs to opening day, stadium construction projects present a captivating blend of high-profile opportunities and significant challenges and risks. Navigating this complex landscape is not easy, but when managed properly, the potential rewards, both in terms of reputation and finances, can make it a gamble worth… Continue reading Balancing Risk and Reward: the Complexities of Stadium Construction Projects
Tag: Risk Transfer
Risk Transfer: The Souffle of Construction Litigation
Alexa Stephenson and Ivette Kincaid | Kahana Feld Who does not love a good souffle?! Enthusiasts will know that a great souffle is not something you can obtain quickly. Rather, it is common in restaurants to order the souffle as dessert at the beginning of the meal because it takes an hour to bake. Risk… Continue reading Risk Transfer: The Souffle of Construction Litigation
Virginia Puts More Liability on General Contractors
Aaron S. Brotman | Cole Schotz Over the last few years, Virginia has enacted legislation designed to shift risk and cost from subcontractors to prime contractors on public and private contracts. 2023 will see the end of contingent payment clauses, adding to prime contractors’ responsibility to ensure payment to subcontractors’ employees. Pay-if-Paid Not Long for… Continue reading Virginia Puts More Liability on General Contractors
Construction Calamity: Risk Transfer Tips for Contractors After a Catastrophic Loss
William S. Bennett | Saxe Doernberger & Vita From structural collapses to fires, the construction industry has experienced a number of high-profile catastrophes over the past decade. These disasters test the mettle of even the most experienced risk professionals and the strongest insurance programs. Issues can arise in all facets of the company’s contracts and… Continue reading Construction Calamity: Risk Transfer Tips for Contractors After a Catastrophic Loss
Risk Transfer in Construction: Subrogation, Indemnity and Additional Insured Provisions
Lawrence T. Bowman, Donald A. Waltz and Ashley Veitenheimer | Kane Russell Coleman Logan | February 19, 2019 I. INTRODUCTION The construction industry is the largest single production sector in the United States economy. Construction encompasses a significant percentage of capital expenditures. It employs approximately five percent of the workforce. This is a significant percentage… Continue reading Risk Transfer in Construction: Subrogation, Indemnity and Additional Insured Provisions