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Mold may be the biggest issue facing the remodeling industry. Five years ago, when Brothers Strong, in Houston, came across household mold in the course of a project, "you didn't even talk about it," recalls company owner Michael Strong. And panicky homeowners facing $35,000 or more in...
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Contractors and designers have stepped up to meet this demand, but many do so without a complete understanding of the risks and responsibilities they may be assuming in design/build contracts.Traditional liability insurance policies do not cover all (or in some cases, any) of these potential...
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Seven years ago, the insurance agent for Scott Strawbridge's Ft. Lauderdale, Fla., remodeling company called to tell him it was time to pay his workers' comp insurance. To find out if a PEO is licensed to operate in your state, visit www.napeo.org, the Web site of the National Association of...
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A decade of soft pricing, extravagant claims, and investment losses has the insurance industry scrambling to recoup profits, and residential construction is the first casualty.We call it the 'battlefield,'" says Susan Brodahl, a Washington-state insurance broker, confirming reports that remodelers...
Besides endangering a worker, a roofing accident is bad for PR, leaves the job short-handed, demoralizes the crew, raises insurance premiums, and creates paperwork.
When Randall Fenton was named Big 50 in 1987, he was pushing to expand Inrecon into a nationwide insurance restoration business. Yellen says the remaining partners and BELFOR intend to double the company's sales volume in the next six years.
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The true measure of a company's value is equity, which is the difference between assets -- all that a company owns -- and liabilities -- all that a company owes. This account parallels the Underbillings account in Current Assets.
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The California legislature is considering a bill that would prohibit insurance companies from excluding mold claims from liability and property policies issued in the state.Introduced by State Senator Deborah Ortiz, the bill, according to an analysis by the Senate Committee on Insurance, intends to...
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Design firms can significantly improve their protection from liability by "improving their practice management skills," according to a study by insurance program provider DPIC Companies.
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Kowalski Construction in Phoenix has discovered a way to give clients a value-added service at the close of a job -- via a Web-based home inventory service. Among other benefits, it reminds homeowners of expiring warranties and scheduled maintenance work.