http://www.insurancemic.com/Created for those who purchase, and those who provide NY General Liability Insurance and NY Workers Compensation insurance in the NY Metropolitan Region enFri, 09 Mar 2012 14:07:33 PSTTypePad http://www.typepad.com/Business/Management & MarketingnoCreated for those who purchase, and those who provide NY General Liability Insurance and NY Workers Compensation insurance in the NY Metropolitan RegionInsuranceMikehttp://feedburner.google.comhttp://www.insurancemic.com/2012/03/have-copper-worst-states-worst-places-for-metals-theft.htmlMichael StoopFri, 09 Mar 2012 14:14:00 PSTtag:typepad.com,2003:post-6a00d8341d970853ef016302a80cb6970dThe report just released by the non profit organization National Insurance Crime Bureau stated that Copper Theft is up 81%. The report released today tagged 25,083 metal related insurance claims between January 1st 2009 through December 31st, 2011. Compare that to the two year period between 2006 and 2008 which...http://www.insurancemic.com/2012/02/5-tips-on-avoiding-an-expensive-education-on-construction-safety.htmlConstruction LiabilityCurrent AffairsValuable Misc Insurance InfoMichael StoopMon, 27 Feb 2012 23:48:41 PSTtag:typepad.com,2003:post-6a00d8341d970853ef0168e7f8209f970c“They were killed because a wealthy man was concerned about the bottom line and nothing else.” This is direct quote by the assistant district attorney , Eli Cherkasky relating to the May 2008 Crane collapse in NYC that killed 2 constructions workers. We know you are aware of this already, however in the spirit of practicing solid fundementals may we suggest the following so you don’t end up spending a small fortune on Construction Liability Insurance or worse end, up in the WSJ & NY Daily News like Mr James Lomma of NY Crane & Equipment Corp.http://www.insurancemic.com/2012/01/construction-umbrella-market-going-from-hard-to-distressed.htmlConstruction LiabilityConstruction Umbrella InsuranceMichael StoopMon, 30 Jan 2012 13:00:26 PSTtag:typepad.com,2003:post-6a00d8341d970853ef0167615dc037970bIf you’re an Umbrella Insurance Carrier how many accounts do you have to write to pay a $20 million dollar claim. The answer is not enough, which is why the pricing on NY Construction Umbrella Insurance policies have doubled since the January 1st . The biggest driver are the reinsurance treaties that have been renewed at much higher insurance rates.http://www.insurancemic.com/2012/01/7-tips-to-position-your-business-during-a-hard-insurance-market.htmlConstruction LiabilityCurrent AffairsValuable Misc Insurance InfoMichael StoopMon, 27 Feb 2012 23:51:45 PSTtag:typepad.com,2003:post-6a00d8341d970853ef0168e6199cb7970cThose businesses that have incurred insurance claims will see their unit costs increase substantially. For some types of businesses, such as healthcare, human services, or construction, insurance is one of your highest expenses. Further, insurance claims don’t just impact your future insurance costs, they affect your productivity and your labor costs. Insurance claims have an impact up and down your P&L statement, impairing your ability to compete in the marketplace. http://www.insurancemic.com/2012/01/is-2012-the-begining-of-a-hard-market.htmlCurrent AffairsInsurance CarriersWorkers Compensation InsuranceMichael StoopThu, 05 Jan 2012 12:45:50 PSTtag:typepad.com,2003:post-6a00d8341d970853ef01676007eed5970bFor those of you not in the “industry” January 1st is a big insurance date. It’s the day a vast majority of re-insurance contracts renew. Re-Insurance are those folks who insure the insurance companies so they can spread the risk of insuring a $100 million dollar project. After 8 years...http://www.insurancemic.com/2011/11/insurance-for-property-under-construction.htmlConstruction PropertyMichael StoopMon, 14 Nov 2011 15:23:32 PSTtag:typepad.com,2003:post-6a00d8341d970853ef015436e2b2a7970cIf you click on the picture above entitled " Risk Transfer for Property Under Construction" you will be brought to a detailed presentation on all the nuance that is Builders Risk Insurance. The beauty of the slide show presentation is that we overlaid the audio to the power point so you get to hear in essence the material as it was presented. For those of you that already have a working knowledge of Builder Risk Insurance , but wanted to grab a few quick take aways, just click thru the slides until something strikes you.http://www.insurancemic.com/2011/06/nyc-buildings-department-revises-ny-construction-general-liability-insurance-ruling.htmlConstruction LiabilityCurrent AffairsMichael StoopWed, 06 Jul 2011 07:08:19 PDTtag:typepad.com,2003:post-6a00d8341d970853ef01538f6f7483970bThe NYC Buildings Department wisely revised some of the more stringent aspects of the NY Construction General Liability Insurance requirement. In a memo dated June 22nd to NYSBA the NYC D.O.B. made the following revisions. http://www.insurancemic.com/2011/03/our-solve-for-the-nyc-dept-of-buildings-general-liability-insurance-rule.htmlCurrent AffairsMichael StoopTue, 29 Mar 2011 07:05:36 PDTtag:typepad.com,2003:post-6a00d8341d970853ef0147e38afe8b970bIt's our expectation that we will be meeting with the New York City Department of Buildings within the next few days to help illuminate the disastrous impact this new rule could have on the cost structures of an industry reeling from difficult macro challenges resulting from the financial crisis.http://www.insurancemic.com/2011/03/nyc-department-of-buildings-change-impacts-cost-of-ny-construction-liability-insurance-for-general-c.htmlConstruction Law IssuesCurrent AffairsMichael StoopMon, 28 Mar 2011 12:23:38 PDTtag:typepad.com,2003:post-6a00d8341d970853ef014e602bb22d970cOnce you have absorbed how the new rules are written, we suggest you read the next article on our sister blog: The Cost Impact of the New Department of Buildings Rule Change for NYC General Contractors & NY Developers General Liability Insurance. Click on this article to see what the cost impact is of this important new ruling. Learn how it some instances it could double the cost for NY Construction General Liability Insurance. http://www.insurancemic.com/2011/03/what-buffet-2012-your-business-may-have-in-common.htmlCurrent AffairsValuable Misc Insurance InfoMichael StoopFri, 11 Mar 2011 08:03:56 PSTtag:typepad.com,2003:post-6a00d8341d970853ef0147e3228e1b970bWhat's interesting is that when it comes to construction, especially NY General Contractor's and NY Developer's what always puzzled me was the zealot like fixation on pricing their bid to be as competitive as possible yet often not properly forecast their future cost structures, imperiling their profits.nonadult