Contractors Prepare for a Strong 2021 Despite Unpredictability
April 05, 2021 —
Kenny Ingram - Construction ExecutiveA recent IFS study found many construction and engineering companies are reimagining their business models to ensure a secure future, using the pandemic-induced lull in business to prepare themselves to get back to operations on a strong footing.
The research shows 70% of businesses have increased or maintained digital transformation spend, despite the COVID-19 pandemic. In the infrastructure, engineering and construction sectors the figure is more than 75%.
There are many challenges the industry will face in the new year following the unpredictability of 2020, but there are also many opportunities. Despite the uncertainties that lay ahead, here are the few trends predicted to impact the sector 2021 and beyond.
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Kenny Ingram, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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Real Estate & Construction News Round-Up (12/07/22) – Home Sales, EV Charging Infrastructure, and Office Occupancy
December 26, 2022 —
Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law BlogThis week’s round-up explores decreasing home sales, electric vehicle charging stations, office occupancy levels, and more.
- With home sales dropping and more buyers abandoning their plans, forecasters have rarely disagreed as much as they are now regarding where the housing market is going next. (Nicole Friedman, Nick Timiraos, The Wall Street Journal)
- Contractors and construction technology firms are watching as skilled workers look for new jobs in a turbulent economy. (Matthew Thibault, Construction Dive)
- The ability to conveniently charge electric vehicles away from home is a top concern for many owners, indicating the strong need for an extensive and reliable external charging infrastructure. (Robert Charette, IEEE Spectrum)
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Pillsbury's Construction & Real Estate Law Team
BHA Sponsors 28th Annual Construction Law Conference in San Antonio, TX
January 07, 2015 —
Beverley BevenFlorez-CDJ STAFFBert L. Howe & Associates, Inc. is proud to be joining with the State Bar of Texas, Construction Law Section, as a sponsor and exhibitor at the 28th Annual Construction Law Conference to be held March 5-6, 2015 at the San Antonio Marriott Rivercenter.
With offices in San Antonio and Houston, Bert L. Howe & Associates, Inc. (BHA) offers the experience of over 20 years of service to carriers, defense counsel, and insurance professionals as designated experts in over 5,000 cases. BHA’s staff encompasses a broad range of licensed and credentialed experts in the areas of general contracting and specialty trades, as well as architects, and both civil and structural engineers, and has provided services on behalf of developers, general contractors and sub-contractors.
BHA’s experience covers the full range of construction defect litigation, including single and multi-family residential (including high-rise), institutional (schools, hospitals and government buildings), commercial, and industrial claims. BHA specializes in coverage, exposure, and delay claim analysis as well.
Download the seminar brochure and register for the event...
For more information on Bert L. Howe & Associates, Inc., you may contact Don MacGregor at dmac@berthowe.com or 210.441.8375.
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Pending Home Sales in U.S. Increase Less Than Forecast
October 29, 2014 —
Michelle Jamrisko – BloombergThe number of contracts to buy existing homes rose less than forecast in September, signaling demand will probably plateau heading into the end of 2014.
The pending home sales index increased 0.3 percent after dropping 1 percent in August, the National Association of Realtors said today in Washington. The median projection in a Bloomberg survey of economists called for a 1 percent gain.
Home resales have yet to regain last year’s peak as still-tight credit and low inventories remain hurdles for the industry, which means residential real estate will make a limited contribution to the expansion. The recent drop in mortgage rates and pickup in hiring will probably help underpin demand, even as first-time buyers struggle to enter the market.
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Michelle Jamrisko, BloombergMs. Jamrisko may be contacted at
mjamrisko@bloomberg.net
NJ Transit’s Superstorm Sandy Coverage Victory Highlights Complexities of Underwriting Property Insurance Towers
February 24, 2020 —
Traub LiebermanIn New Jersey Transit Corp. v. Certain Underwriters at Lloyd’s, London, 2019 WL 6109144 (N.J. App. Div. Nov. 18, 2019), New Jersey Transit (“NJT”) defeated the claim of several of its insurers that a $100 million flood sublimit applied to its Superstorm Sandy damages and recovered the full $400 million limits of its property insurance tower. The decision is a big win for the beleaguered transit agency, and for insurance professionals working with complex insurance towers, the decision highlights critical underwriting issues that can dramatically affect the amount of risk transferred by the policyholder or assumed by the insurer.
In NJ Transit, NJT secured a multi-layered property insurance program providing $400 million in all-risk coverage. The first and second layers provided $50 million each, the third and fourth layers provided $175 million and $125 million, respectively, with several insurers issuing quota shares in each layer. The program contained a $100 million flood sublimit, and “flood” was defined to include a “surge” of water. The program did not contain a sublimit for damage caused by a “named windstorm,” which was defined to include “storm surge” associated with a named storm. After NJT made its Superstorm-Sandy claim, some of the third- and fourth-layer insurers advised NJT that the $100 million flood sublimit applied to bar coverage under their policies. NJT sued these excess insurers and won at the trial and appellate levels.
In holding that the $100 million flood sublimit did not apply, the court applied the rule of construction that the specific definition of “named windstorm,” which included the terms “storm surge” and “wind driven water,” controlled over the policies’ more general definition of “flood.” In ascertaining the parties’ intent, the court noted that the omission of the term “storm surge” in the definition of “flood” evidenced an intention that the flood sublimit would not apply to storm surges. Based on this finding, the court rejected several arguments made by the insurers that other policy provisions evidenced the parties’ intent to apply the flood sublimit to all flood-related losses, regardless of whether the loss was caused by a storm surge.
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Traub Lieberman
Collapse of Improperly Built Deck Not An Occurrence
August 17, 2017 —
Tred R. Eyerly - Insurance Law HawaiiThe court found that the insured's faulty construction of an outside deck did not arise from an occurrence. Employers Mut. Cas. Co. v. West, 2017 U.S. Dist. LEXIS 113951 (N.D. Miss. July 21, 2017).
D.L. Action Construction Company (DLA) constructed multifamily dwellings. They were sued by the homeowners after a deck collapsed at one of the dwellings. Also sued was the subcontractor, Littrell Construction, who installed the deck. The homeowners alleged that Littrell knew that college students would be residing in the units and that the decks would be heavily used. The decks were attached to the building structure using only nails instead of bolts.
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Tred R. Eyerly - Insurance Law HawaiiMr. Eyerly may be contacted at
te@hawaiilawyer.com
TARP Funds Demolish Homes in Detroit to Lift Prices: Mortgages
March 07, 2014 —
Brian Louis and Jeff Green - BloombergIn Flint, once a thriving auto-industry hub, excavators with long metal arms and shovels have begun tearing down 1,500 dilapidated homes in an attempt to lift the housing market.
The demolitions in this Michigan city of about 100,000 people are part of the stepped up efforts by officials in several Midwestern states to rid their blighted neighborhoods of decayed housing that’s depressing prices. The funding for the excavator work comes from a surprising source -- the Hardest Hit Fund of the Troubled Asset Relief Program, or TARP, created in 2008 to stabilize to the financial system.
The $7.6 billion Hardest Hit Fund was intended to help troubled property owners avoid foreclosure and keep their homes. As foreclosures fall in most parts of the country, the fund is using the unspent $3.2 billion to remedy the crisis of abandoned homes. In Detroit alone, 70,000 dwellings, or about 19 percent of the total, may need to be torn down, according to the city.
Mr. Louis may be contacted at blouis1@bloomberg.net. Mr. Green may be contacted at jgreen16@bloomberg.net.
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Contractor Suffolk's Hospital Project Is on Critical List After Steward Health Care Bankruptcy
January 14, 2025 —
Richard Korman - Engineering News-RecordBefore it was hit by troubles that now threaten to kill it, a new hospital being built by Suffolk Construction in Norwood, Mass., was shaping up as a tale of recovery. The existing hospital on the site had been forced to shut most local operations since a devastating rainfall and flood in 2020.
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Richard Korman, ENR