Contractors Current Trends

The potential for professional liability claims may seem apparent when considering services such as engineering or construction management. In this 4-hour session, insurance professionals will explore exposures beyond the typical commercial general liability, workers compensation, and commercial auto exposures in the construction industry. They will examine the types of coverages for ancillary exposures, such as: contractors pollution, contingent pollution, contractors professional liability, rectification costs coverage, protective indemnity coverage, network security/privacy liability, technology, faulty workmanship, etc. They will identify emerging risks that could have a significant impact on the construction industry, such as: automated/autonomous construction machinery, robotics, drones, and artificial intelligence. They will discuss the exposures, coverage issues, and gaps with traditional insurance policies and explore possible solutions to these emerging and unique risks.

Every contractor faces environmental exposures—and a single loss can quickly impact the bottom line. This course equips participants with practical strategies to identify, manage, and transfer environmental risk, helping to reduce or even eliminate the financial and operational disruptions environmental liabilities can cause. For insurance professionals, proactively addressing environmental coverage with clients is critical. Without these conversations, an environmental claim could leave your Errors & Omissions (E&O) policy as the only line of protection.

This course provides a clear understanding of the key issues faced by contractors in the construction industry. It explains the value of an insurance agent in coverage by examining several factors that influence a contractor’s selection of an agent and carrier. The course also highlights the importance of insurance in both private and municipal projects, covering essential elements such as coverage limits, certificates of insurance, subcontractor agreements etc. It emphasizes the use of clear communication to simplify complex coverage terms and addresses common insurance challenges faced by contractors such as differences between contract language and policy terms. Participants gain insight into the importance of captives in construction, benefits, limitations, and appropriate use of OCIP/CCIP programs. Upon completion, participants will be better equipped to make informed decisions and effectively manage risk exposure across a range of construction projects.