Key Economic & Geopolitical Themes To Monitor In 2024
January 16, 2024 —
Global Insights Center Staff - The HartfordSlowing US Economic Growth and Flattening Interest Rates
Growth in the first half of 2023 averaged approximately 2.0%, driven mainly by private sector investments outside of the residential housing sector, government spending, and strong consumer demand. In 2024, The Hartford’s Global Insights Center is expecting investments and government spending to continue and may support growth in the year. However, consumer health may start to weaken due to elevated leverage, higher interest rates, and sticky inflation.
Since the Federal Reserve began to increase interest rates, consumer activity and household finances have not been tremendously affected. However, as revolving interest rates (credit card loans) continue to reset that may change, especially since household savings rates fell below pre-pandemic levels and may affect consumer demand.
Read the court decisionRead the full story...Reprinted courtesy of
Global Insights Center Staff, The Hartford
Congratulations Devin Brunson on His Promotion to Partner!
April 26, 2021 —
Dolores Montoya - Bremer Whyte Brown & O'Meara LLPBremer Whyte Brown & O’Meara, LLP is very proud to announce Devin Brunson has been promoted to the position of partner with the firm!
Mr. Brunson came to BWB&O from another civil litigation firm and helped start the Denver, Colorado office along with partners Lucian Greco, John Toohey and Peter Brown. He has taken on a significant leadership role within the firm over the past several years and has been integral in growing the office to its current footprint.
He is licensed to practice law in Colorado, District of Colorado, and in the U.S. District Court. His practice is focused in the areas of civil and business litigation, construction litigation, and employment law. Mr. Brunson has a diverse practice background that includes complex civil litigation and intellectual property disputes and has had the privilege of representing business owners, contractors, corporate executives, and professional athletes during the course of his career.
Read the court decisionRead the full story...Reprinted courtesy of
Dolores Montoya, Bremer Whyte Brown & O'Meara LLP
Report Highlights Trends in Construction Tech, Digitization, and AI
November 11, 2024 —
Aarni Heiskanen - AEC BusinessBluebeam, a top technology provider for AEC professionals, has just released its “Building the Future: Bluebeam AEC Technology Outlook 2025” report. This report highlights key global trends in construction technology, including the role of AI and digital tools. Based on insights from over 400 AEC technology leaders, the report also uncovers challenges that prevent full-scale adoption of these tools.
The online research surveyed technology decision-makers (managers or above) within AEC firms in the US, UK, Canada, France, Spain, Germany, Australia, and New Zealand in July 2024.
AI’s Growing Role in Construction
According to the report, 74% of surveyed AEC professionals are now using AI in one or more phases of building projects. AI is especially popular in the design (48%) and planning (42%) stages. Many AEC firms recognize its value: over half (55%) of companies using AI say it’s crucial, and most now allocate up to 25% of their budgets to AI initiatives. Despite this support, concerns over AI regulation are significant. About 54% of respondents are worried about regulations, and 44% say this impacts their use of AI.
Read the court decisionRead the full story...Reprinted courtesy of
Aarni Heiskanen, AEC BusinessMr. Heiskanen may be contacted at
aec-business@aepartners.fi
Montrose III: Appeals Court Rejects “Elective Vertical Stacking,” but Declines to Find “Universal Horizontal Exhaustion” Absent Proof of Policy Wordings
September 14, 2017 —
Christopher Kendrick & Valerie A. Moore – Haight Brown & Bonesteel LLPIn Montrose Chemical Corp. v. Superior Court (No. B272387; filed 8/31/17) (Montrose III), a California appeals court found that excess insurance is not triggered for continuous and progressive losses until there has been horizontal exhaustion of underlying insurance, but there is no “universal horizontal exhaustion” because the order or sequence in which excess policies may be accessed depends on the specific policy wording at issue.
The coverage lawsuit was initiated by Montrose in 1990, when it was named in environmental actions for continuous and progressive property damage emanating from its Torrance chemical plant since the 1960s. Montrose had varying levels of insurance coverage throughout, but the total limits and attachment points of differing levels of excess coverage in any given year had changed from year-to-year. The coverage action was stayed in 2006 due to concern of prejudice to the underlying defense, but the stay was lifted in 2014 with Montrose entering a consent decree in the CERCLA action.
Reprinted courtesy of
Christopher Kendrick, Haight Brown & Bonesteel LLP and
Valerie A. Moore, Haight Brown & Bonesteel LLP
Mr. Kendrick may be contacted at ckendrick@hbblaw.com
Ms. Moore may be contacted at vmoore@hbblaw.com
Read the court decisionRead the full story...Reprinted courtesy of
Damages or Injury “Likely to Occur” or “Imminent” May No Longer Trigger Insurance Coverage
January 05, 2017 —
Masaki J. Yamada – Ahlers & Cressman PLLCWashington Courts allow an insurer to determine its duty to defend an insured against a lawsuit based only on the face of the complaint and the limitations of the insurance policy. This is otherwise known as the “eight corners” rule (four corners of the complaint plus the four corners of the policy). In other words, the insurance company is not permitted to rely on facts extrinsic to the complaint in order to deny its duty to defend an insured. See Truck Ins. Exch. v. VanPort Homes, Inc., 147 Wn.2d 751, 763 (2002). The laws in Washington provide greater protection to the insured over the insurer when it comes to the insurer’s duty to defend. The duty to defend a claim is triggered if a claim could “conceivably” be covered under the policy. See Woo v. Fireman’s Insurance, 161 Wn.2d 43 (2007). If there is any ambiguity in a policy with regard to coverage, the ambiguity is interpreted in favor of the insured.
As a result, contractors in Washington regularly tender claims or potential claims to their insurers even when damage has not occurred but will occur in the imminent future. Especially in the context of construction defect cases, a contractor will tender such a claim to its insurer to trigger the broad duty of the insurer to provide a defense. We also regularly recommend this to our contractor clients. For example, if a building owner serves a contractor with a claim that the construction and installation of a window system will imminently cause leaks and corrosion, we would recommend that the contractor tender the claim to its commercial general liability insurer. Washington courts have found a duty to defend when there are allegations in the complaint that covered damages will occur in the imminent future.
Read the court decisionRead the full story...Reprinted courtesy of
Masaki J. Yamada, Ahlers & Cressman PLLCMr. Yamada may be contacted at
myamada@ac-lawyers.com
China Bans Tallest Skyscrapers Following Safety Concerns
July 25, 2021 —
Bloomberg NewsChina is prohibiting construction of the tallest skyscrapers to ensure safety following mounting concerns over the quality of some projects.
The outright ban covers buildings that are taller than 500 meters (1,640 feet), the National Development and Reform Commission said in a notice Tuesday. Local authorities will also need to strictly limit building of towers that are more than 250 meters tall.
The top economic planner cited quality problems and safety hazards in some developments stemming from loose oversight. A 72-story tower in Shenzhen was closed in May for checks following reports of unexplained wobbling, feeding concern about the stability of one of the technology hub’s tallest buildings.
Construction of buildings exceeding 100 meters should strictly match the scale of the city where they will be located, along with its fire rescue capability, the commission said.
“It’s primarily for safety,” said Qiao Shitong, an associate law professor at the University of Hong Kong who studies property and urban law. Extremely tall buildings “are more like signature projects for mayors and not necessarily efficient.”
Read the court decisionRead the full story...Reprinted courtesy of
Bloomberg
Construction Insurance Rates Up in the United States
November 20, 2013 —
CDJ STAFFA new report says that construction firms paid from three to seven percent more on average during the first six months of 2013 than they had in the last half of 2012. Firms with poor loss histories paid even more, reaching double-digit increases.
Michael Anderson, of Marsh’s U.S. Construction Practice said that “U.S. construction firms are grappling with a firming insurance market, especially when it comes to liability insurance where underwriters continue to tighten coverage terms and seek rate increases to make up for reduced investment income.” He did note that “the good news for well-managed construction firms is they can still generally find competitive pricing and terms.”
Read the court decisionRead the full story...Reprinted courtesy of
Cincinnati Goes Green
May 10, 2013 —
CDJ STAFFColumbus Dispatch reports that under a program in Cincinnati, homeowners can receive tax breaks that eliminate their property taxes for up to fifteen years. As a result, while about 100 single-family homes in Cincinnati are LEED-certified, Columbus can claim only one. The rest of the state also lags behind, with only eighteen percent of LEED-certified homes outside Cincinnati.
Jim Weiker reports that energy efficiency is at the top of homebuyers’ wants, even beating out granite countertops. But although green certification seems to support a four percent increase in price, builders aren’t rushing to follow LEED standards.
Read the court decisionRead the full story...Reprinted courtesy of