Claim reporting can be challenging for even the most seasoned Risk Management Teams, as each claim is unique. Insureds in the Construction Industry face large, multi-million-dollar claims that can take years to resolve. However, with a strong process and execution, the claim submission process can be constructive and beneficial for all parties. In a recent sit down with...
Building Information Modeling (BIM) is a robust process serving as the foundation for digital transformation across the AEC industry. This three-dimensional data rich process helps project personnel create and manage data throughout the lifecycle of a construction project. As stated on Autodesk's website, BIM is revolutionizing how projects are delivered across industries, adding intelligence and efficiency to project execution –...
Subcontractor Default Insurance (SDI) is a policy that protects general contractors and construction managers from the loss associated with a defaulted subcontractor. Contractors take on a substantial amount of risk when employing subcontractors for large construction projects. General contractors must do an excellent job of mitigating that risk by selecting and managing their subs carefully, so they may avoid...
Do you know the difference between mass timber and wood frame when it comes to construction? Some Individuals may perceive both as large pieces of lumber used for building various structures. Even though both materials derive from trees, mass timber is used for larger projects as it is engineered to be stronger, straighter, stiffer, and lighter than...
As technology has advanced, so has the healthcare industry. New devices and software programs are benefitting healthcare on several different levels. From smartwatches that can monitor individual heart rates to Building Information Modeling (BIM) that can assist in developing extensive healthcare facilities, technology is improving health maintenance across the world. With this comes an abundant amount of data and...
Often, when people hear the words "insurance claims," they are associated with negative connotations. These include the anticipation of lengthy resolutions, undesired tasks, and conflict. However, to the contrary, claims can bring people together when all parties collaborate effectively. In a recent sit down with Derek Fennell, Assistant Vice President of Subcontractor Default Insurance Claims at AXA XL, we...
Are you someone who is looking for opportunities to advance your career? If so, you can take action you can take to excel professionally, which will help you increase your experience and drive you towards professional success. In a recent sit down with Karen Rice, Vice President and Head of Construction Claims North America at AXA XL, we gain...
Historically, women across both Insurance and Construction industries have been underrepresented. In a recent sit down with Heather O'Neill, Assistant Vice President of Construction Specialty Products at Arch Insurance Group, we gain insights on supporting women in finding their path as a leaders in their industry. Heather's three takeaways that can help anyone find a path as a leader, especially...
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