Seattle Washington Building Expert Directory

New York Regulator Issues Cyber Insurance Guidelines

March 29, 2021 — Anne Kelley - Newmeyer Dillion
From the rise of ransomware attacks to the recent SolarWinds-based cyber espionage campaign that struck at the very heart of the U.S. Government, it is apparent that cybersecurity is more critical than ever. COVID-19 and the remote workplace has only served to embolden cyber criminals, and cyber risk now permeates nearly every aspect of modern life from health care data to national security. Cyber insurance plays a critical role in managing cyber risk, and businesses increasingly rely on such coverage to minimize cyber losses. Because of surging cybercrime, it is estimated that the cyber insurance market will increase from $3.15 billion in 2019 to $20 billion by 2025. Having a robust cyber insurance market and ample available coverage is vital to U.S. businesses. In recognition of this reality, the New York Department of Financial Services recently issued the first guidance by a U.S. regulator on cyber insurance—a Cyber Insurance Risk Framework. A key premise of the Framework is to drive improved cybersecurity and cyber risk management, thereby reducing cyberattacks and ensuring that cyber insurance premiums do not spiral out of control. The Framework recognizes the importance of ensuring a healthy cyber insurance market, and applies to all property/casualty insurers that write cyber insurance. Read the court decision
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Reprinted courtesy of Anne Kelley, Newmeyer Dillion
Ms. Kelley may be contacted at anne.kelley@ndlf.com

Survey: Workers Lack Awareness of Potentially Hazardous Nanomaterials

December 11, 2018 — Scott Van Voorhis – Engineering News-Record
Microscopic nanoparticles are part of the mix in nearly 600 construction products. The particles add strength, durability and other desired characteristics. Read the court decision
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Reprinted courtesy of Scott Van Voorhis, ENR
ENR may be contacted at ENR.com@bnpmedia.com

When is a “Notice of Completion” on a California Private Works Construction Project Valid? Why Does It Matter for My Collection Rights?

January 27, 2020 — William L. Porter - Porter Law Group
What is a Notice of Completion? A “notice of completion” is a document recorded by the owner of property where construction work was performed. Specifically, it is recorded at the Office of the County Recorder in the County where the work was performed. The notice of completion tells the world at large that the construction project is complete. It also triggers the deadlines for those who have not been paid to make their claims for payment. Is an Owner of a California Private Works Project Required to Record a Notice of Completion? No, there is no requirement that an owner of a California private works construction project record a Notice of Completion. However, there are consequences which depend on whether an Owner elects to record the notice or not. For My Collection Rights, Why Does it Matter Whether a Notice of Completion Has Been Recorded? The date of recording of a valid notice of completion sets the deadline for those who have not been paid for work performed and materials supplied to a California construction project to pursue such important collection remedies as the “mechanics lien”, the “stop payment notice” and the “payment bond claim.” These are very powerful collection remedies for those who have not been paid. If the deadline to pursue these remedies is missed by a claimant, then the claimant’s right to pursue these remedies is also missed. One of these remedies, the mechanics lien, will enable the claimant to sell the owner’s property where the work was performed in order to get paid. Read the court decision
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Reprinted courtesy of William L. Porter, Porter Law Group
Mr. Porter may be contacted at bporter@porterlaw.com

Housing to Top Capital Spending in Next U.S. Growth Leg: Economy

September 24, 2014 — Shobhana Chandra – Bloomberg
Bruce Hottle’s $10,000 computer systems upgrade in February at his Pennsylvania concrete plant may be his last investment for another two years. More than 1,100 miles south in suburban Miami, Maggie Cruz-Ledon and her husband have set a 2015 deadline to buy a house, upping their budget in the process. Hottle’s and Cruz-Ledon’s plans represent a sneak peek into the next leg of the expansion. Housing and business capital spending, two areas closely tied to swings in the world’s largest economy, are poised to diverge as home construction gives growth more of a boost in the long run while investment in new plants and equipment shows less promise, according to economists at Goldman Sachs Group Inc. and Morgan Stanley. Read the court decision
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Reprinted courtesy of Shobhana Chandra, Bloomberg
Ms. Chandra may be contacted schandra1@bloomberg.net

No Coverage for Additional Insured

December 17, 2015 — Tred R. Eyerly – Insurance Law Hawaii
Two insurers disputed who was responsible for coverage the additional insured contractor. Endurance Am. Spec. Ins. Co. v. Century Sur. Co., 2015 U.S. App. LEXIS 19194 (2nd Cir. Nov. 4, 2015). The district court granted summary judgment to Endurance, finding there was coverage for the additional insured general contractor after being sued by an employee of a subcontractor. Century's policy included an Action Over Exclusion clause, which excluded insurance coverage for injury to certain employees as follows: Exclusions: . . . e. Employer's Liability "Bodily injury" to: (1) an "employee" of the named insured arising out of and in the course of:

(a) Employment by the named insured; or
(b) Performing duties related to the conduct of the named insured's business.

The named insured was Pinnacle Construction & Renovation Corp. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

New Jersey Senate Advances Bad Faith Legislation

July 18, 2018 — TLSS Insurance Law Blog
New Jersey is the latest to join the list of states that have enacted or are considering enacting legislation that would authorize policyholders to file civil suits against first-party insurers for unfair business practices, such as unreasonably delaying or denying benefit payments, engaging in false advertising, or otherwise committing a wide range of unfair or deceptive practices. On June 7, the New Jersey Senate passed a bill entitled the New Jersey Insurance Fair Conduct Act. The Act would create a new statutory cause of action pursuant to which a first-party insurer would be liable for bad faith based on a single statutory violation, thereby entitling an aggrieved policyholder to collect triple damages and attorneys’ fees. The proposed legislation is now before the state’s General Assembly for further consideration. Read the court decision
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Reprinted courtesy of Traub Lieberman Straus & Shrewsberry LLP

Building Materials Price Increase Clause for Contractors and Subcontractors – Three Options

June 21, 2021 — William L. Porter - Porter Law Group
With the arrival of inflation come concerns regarding increases in the price of building materials within the construction industry. Contractors, subcontractors and others who contract to perform construction work can suffer significant losses when the prices they must pay for materials rises significantly between the time they sign the contract and actually purchase the materials. The general rule is that, unless there exists a contract clause allowing contractors or subcontractors to pass significant price increases for materials on to others, contractors and subcontractors are stuck with the price stated in the contract or subcontract. When prices rise, the contractor or subcontractor eats the difference. Rising prices can thus turn a profitable project into a catastrophic failure. How are contractors and subcontractors to protect themselves? Once a contract is executed, there is usually little that can be done to change the document to address rising prices. Effort must therefore turn to future protection. The best technique for dealing with increasing future prices for building materials is by adding a price escalation clause to contracts and subcontracts. While this will not help for past contracts or subcontracts, it can certainly offer significant protection going forward. Read the court decision
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Reprinted courtesy of William L. Porter, Porter Law Group
Mr. Porter may be contacted at bporter@porterlaw.com

Five Lewis Brisbois Attorneys Named “Top Rank Attorneys” by Nevada Business Magazine

June 26, 2023 — Lewis Brisbois Newsroom
Reno, Nev. (June 19, 2023) – Reno Partners John Boyden, Brandon Wright, and Sarah Molleck, Las Vegas Partner Joel Schwarz, and Las Vegas Associate Tamara M. Cannella were recently named to Nevada Business Magazine's 2023 list of "Top Rank Attorneys." Formerly known as "Legal Elite," this annual list represents the top talent in the legal industry across the State of Nevada. According to Nevada Business Magazine, thousands of attorneys are nominated for the list and then scored based on the number and type of votes they receive, with votes from outside an attorney's firm receiving more weight. Finally, before being added to the list, the attorneys, and the votes they receive, go through several levels of verification and scrutiny, with each ballot individually reviewed for eligibility and every voting attorney verified with the State Bar of Nevada. The magazine has published this list for the past 16 years. Read the court decision
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Reprinted courtesy of Lewis Brisbois

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