FMI’s research consultant Rick Tison and Michael Davis, director of Professional Liability Products at Zurich North America Construction,, continue the dialogue on changes in today’s challenging operating environment and how new techniques, delivery methods and construction materials are changing the game of managing risk in the construction process, as well as how best-in-class firms are responding.
Tison: The economic climate we have gone through and are still facing brought about dramatic changes in how businesses in our industry operate. Some of these innovations are occurring over a much longer period. Are we facing revolutionary shifts or evolutionary changes? Read more
With today’s unforgiving economy, the topic of risk management of major programs and the maturity of general project management within an organization is dominating discussion among senior management, executive leadership and boards.
What is project risk management?
Project risk management is not limited to one specific activity or task. Rather, it formalizes the risk monitoring process and provides project managers (PMs), management and the board with a framework for measuring project risk and milestones. Read more
Each year, the Merchants Bonding Company™Leaderboard Program salutes agency partners who have demonstrated their surety savvy and collaboration for growth. We salute Lamair-Mulock-Condon Company of West Des Moines, IA for attaining the Champions Tour of surety professionals. Congratulations to Joe Schmit, Mark Keairnes and Nancy Schwarz for surety professionalism in 2012. Merchants Bonding has partnered with Lamair-Mulock-Condon Company for over a decade. We thank them for the successes we’ve had together and recognize them for sharing our common sense vision. See our online salute to Lamair-Mulock-Condon Company of West Des Moines, IA here.
Merchants Bonding Company’s approach to surety bonding for contractors is common sense underwriting. Accounts are reviewed on their own merit and we do not use inflexible formulas.
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The mechanic’s lien is a unique legal remedy available to the construction industry to secure and collect on debt that arises from services furnished to a construction project. Each state has specific rules about when the lien must be filed (see Lien Deadlines) and who has the right to file. This general rule stands across the country: Entities that furnish labor, materials, equipment or services to a project where real property was being improved in any way are entitled to secure that claim by filing a lien against the property, if the document is filed relatively soon after furnishing. And what is the exact value of a mechanics lien? Why should one be filed? How exactly does it work to get the claimant paid? Read more
An emergency preparedness plan can help maintain control during an emergency and help the injured employee receive the right level of care as quickly as possible. Call the non-emergency phone number for the local fire and ambulance service to set up a pre-planning meeting at the job site to establish:
- who will respond (a town, county, or private service);
- how long the response will take;
- how emergency personnel will access and find the job site;
- where to send an employee to meet and direct responders to the accident site;
- what the local resources are (Can they rescue an employee who fell and may be hanging from a lanyard? Will they do a confined space rescue?); and
- where will the injured employee be taken? Read more