Construction Insurance, Bonds, and Risk Management
Learn how to assess your requirements for insurance coverage and to manage your insurance costs, which lately have become a significant expense on construction projects. Examine the roles of insurance brokers and carriers regarding insurance, bonding placement, claims, and litigation management. Also, learn how to identify and mitigate construction risks. Additional topics include surety bonds, the bonding process for contractors and subcontractors, bonding compliance, contractual insurance coverage and indication requirements, first-party coverage, and third-party coverage. The course also will cover safety management, cost-benefit of safety and loss control, commercial general liability insurance, builder’s risk insurance, owner-controlled insurance programs (OCIPs), contractor controlled insurance programs (CCIPs), workers’ compensation insurance, environmental issues and liability insurance, professional liability or errors and omissions insurance, and the carriers’ and sureties’ roles in litigation. Develop a strategy for a surety project or program default and for the use of experts and counsel.
You'll Walk Away with
- The ability to assess insurance requirements for construction projects
- The knowledge to develop a strategy for bonding a construction project
- Construction project managers
- Real estate developers, managers, and design professionals