http://insurancemike.typepad.com/insurancemic/> Created to add transparency to the construction insurance purchasing decisions for those in the New York City, Metropolitan area who own contracting businesses or consult to those in the construction industry. enWed, 13 May 2009 13:24:17 PDTTypePad http://www.typepad.com/Business/Management & Marketingno> Created to add transparency to the construction insurance purchasing decisions for those in the New York City, Metropolitan area who own contracting businesses or consult to those in the construction industry.> Created to add transparency to the construction insurance purchasing decisions for those in the New York City, Metropolitan area who own contracting businesses or consult to those in the construction industry.InsuranceMikehttp://feedburner.google.comhttp://insurancemike.typepad.com/insurancemic/2009/05/scaffold-law-hearing-scheduled-for-may-21st-.htmlConstruction Law IssuesLabor LawMichael StoopWed, 13 May 2009 13:34:59 PDTtag:typepad.com,2003:post-66738221As distributed by the Independant Agents Associations of NY We strongly encourage any interested parties that have been effected by the scaffold law over the last several years and are in the metropolitan area to attend a crucial court hearing May 21 that could help determine the fate of the...http://insurancemike.typepad.com/insurancemic/2009/05/named-insured-versus-additional-insured---which-one-to-choose.htmlConstruction LiabilityAdditional insuredconstruction insurancecontractors insuranceliability insuranceMichael StoopMon, 04 May 2009 15:50:23 PDTtag:typepad.com,2003:post-66362715The difference between a named insured and Additional named insured could be who pays a million dollar loss. Lately a disturbing contractual trend is emerging whereby those at the top of the food chain, (typically owners), are asking to be named insured on Developer’s and General Contractor’s insurance policies. The...http://insurancemike.typepad.com/insurancemic/2008/12/ny-court-supreme-court-rules-workers-comp-payout-required-for-illegal-immigrants.htmlConstruction Law IssuesWorkers CompensationInsuranceNY Workers CompensationWorkers Compensation InsuranceMichael StoopMon, 02 Mar 2009 09:24:42 PSTtag:typepad.com,2003:post-59832902In Benjamin Amoah v.s Mallah Management LLC , New York's 3rd Judicial Department of the State Supreme Court's Appellate Division upheld an April 2005 finding by a NY State Workers Comp Board that an illegal alien's use of fraudulent documents to get a job does not eliminate him from collecting...http://insurancemike.typepad.com/insurancemic/2008/12/insurance-pricing-maybe-heading-higher-in-2009.htmlConstruction LiabilityCurrent AffairsInsuranceInsurance PricingInsurancemicMichael StoopMon, 02 Mar 2009 09:31:07 PSTtag:typepad.com,2003:post-59821284As carrier put more emphasis on generating profits thru underwriting only firms with a proven historical track record of returning underwriting profits to their insurance carriers thru demonstrated low claims frequency and payouts will see sustained competiton for their business keeping rates stable. ... Many insurance carriers are bleeding losses, some thru both nostrils (investment underwriting resuts), it's only a matter of time before the market loses some of it's capacity, and rates adjust to reflect the reality of their balance sheets, the big question is when, and not if. http://insurancemike.typepad.com/insurancemic/2008/10/new-rules-for-certificates-of-insurance-go-into-effect.htmlBuildings Department New YorkBuildings Department NYCCertificates of InsuranceCertificates of Insurance NYMichael StoopMon, 02 Mar 2009 09:33:33 PSTtag:typepad.com,2003:post-57837843As of 10/31/2008 the Department of Buildings has mandated that all contractors conducting business with the Department must submit or update their insurance thru the Licensing Unit. All requests for insurance updates made to Licensing for the first time must include original worker's compensation, disability and liability (when applicable) certificates....http://insurancemike.typepad.com/insurancemic/2008/10/how-to-evaluate-and-purchase-commercial-insurance.htmlConstruction LiabilityInsuranceInsurance PricingInsurancemicliability InsuranceProperty insuranceMichael StoopMon, 02 Mar 2009 09:34:23 PSTtag:typepad.com,2003:post-56993503My favorite analogy is the game of musical chairs. In this game it is always your goal to make certain you have a chair when the music stops. The same holds true when it comes to insuring your business. When a claim happens, (music stops), you want to be certain...http://insurancemike.typepad.com/insurancemic/2007/12/managing-the-ri.htmlConstruction LiabilityValuable Misc Insurance InfoConstruction InsuranceConstruction managementContractors InsuranceInsuranceInsurancemicLiability InsuranceMichael StoopMon, 02 Mar 2009 09:36:51 PSTtag:typepad.com,2003:post-42470192Recently, I have been asked by quite a number of my Builder Developer clients about purchasing insurance as a "Construction Manager" , INSTEAD of , and not in addition to their current general liability insurance. They are very curious about going this route due to the prospect of enormous premium...http://insurancemike.typepad.com/insurancemic/2007/12/managing-the--1.htmlConstruction LiabilityValuable Misc Insurance InfoMichael StoopMon, 02 Mar 2009 09:39:27 PSTtag:typepad.com,2003:post-42470284Recently, I have been asked by quite a number of my Builder Developer clients about purchasing insurance as a "Construction Manager" , INSTEAD of , and not in addition to their current general liability insurance. They are very curious about going this route due to the prospect of enormous premium...http://insurancemike.typepad.com/insurancemic/2007/10/the-inherent-co.htmlConstruction Law IssuesConstruction LiabilityConstruction liability insuranceDesign Build InsuranceinsuranceInsurancemicliability insuranceMichael StoopMon, 02 Mar 2009 09:38:46 PSTtag:typepad.com,2003:post-40033232 Design Builders can seek to impose a higher standard of care on the Architects Engineers contractually, but most will resist. In addition most architectural and engineering firms have a minimal net worth and no real assets, so any attempts to contractually impose a higher standard of care on the designer are of diminutive value. Lastly, Architects Engineers professional liability insurance typically only covers negligence, and almost always excludes contractually assumed liabilities that exceed this standard. The bottom line is that Design Builders often face a perilous gap between the design liability they accept for the project, and that, which can be transferred to the design professionals. http://insurancemike.typepad.com/insurancemic/2007/10/welcomed-pricin.htmlMichael StoopTue, 02 Oct 2007 13:50:34 PDTtag:typepad.com,2003:post-39671226 Some recent revisions in the New York State filings have provided welcomed relief in the pricing structure of NY State Workers Compensation as it relates specifically to the construction industry. The revision effects the New York State Territorial Differential, which was a surcharge enacted on October 1st,1999 under the Construction Employment Payroll Limitation Law (S7744/A11294). nonadult