In the evolving landscape of construction, contractors often find themselves providing professional advice, straddling the line between design and construction. This shift has led to an increased exposure to professional liability, necessitating a closer look at Contractor’s Professional Liability Insurance. General liability insurance covers bodily injury or property damage resulting from negligence, but what about financial damages caused by negligent professional advice? That’s where professional liability insurance comes in handy.
The manufacturing sector is facing a significant labor challenge due to an aging workforce, skills gap, and gender disparity. To tackle these issues and ensure long-term sustainability, a holistic approach is necessary. At Kapnick, we understand the importance of addressing labor challenges comprehensively, and we have solutions.
Are you feeling stuck in a rut with your insurance program funding? Too often, brokers offer only one solution – guaranteed cost. While this method may be straightforward, it’s often the most expensive way to transfer your risk. But what if I told you that there’s a better way?
Navigating the intricate landscape of the manufacturing industry, especially when it comes to risk management, requires a deep understanding and specialized coverage solutions. Here’s where Kapnick Insurance shines. As part of our ongoing commitment to provide industry-specific insights, we’re excited to share our 2023 Manufacturing Benchmark Report.
In a landmark decision, the Michigan Supreme Court has recently overruled decades of case law regarding the open and obvious defense in slip and fall litigation. This ruling has far-reaching implications for property owners, as it eliminates a commonly used defense strategy. It is crucial for business leaders to understand the implications of this decision and take proactive steps to address the issue. Kapnick can help.
There is an abundance of information concerning the evolving trends in the construction industry. From our recent Benchmark Report, I’ve identified four key trends that are particularly relevant as we look towards 2023 and beyond.
The recent ruling by the Michigan Supreme Court to eliminate the open and obvious defense in premises liability cases has significant implications for property owners. This ruling removes a common defense used to avoid liability, potentially leading to more cases being filed and higher litigation expenses for property owners. To prevent financial losses in premises liability cases, property owners need to take proactive steps and implement effective safety measures. Here’s what you need to do: Conduct regular inspections and maintenance checks on all areas of your property, both inside and outside. Proactively identify potential hazards through regular assessments to address…
As a business owner, you know that the decisions you make can have significant impacts on your success. That’s why we have exciting news to share! Our latest industry-specific benchmark report focuses on the purchasing decisions of insurance buyers in construction, and we’ve just released our benchmark report for 2023. The construction industry generates $1.3 trillion of economic activity annually and employs almost 8 million people. As we navigate the uncertain economic climate, knowledge is power. In 2021, overall construction spending increased by 7 percent, while residential construction spending decreased this year. Infrastructure spending has seen an uptick– thanks in…
Parametric insurance is quickly becoming a popular option for those looking to manage their risk in an efficient and cost-effective way. This innovative form of risk transfer provides policyholders with immediate financial payments triggered by pre-defined events or conditions, rather than