Eye on Housing Examines Costs of Green Features
July 09, 2014 —
Beverley BevenFlorez-CDJ STAFFThe National Association of Home Builders’ Eye on Housing reported that it costs more to build a green home, however, builder’s experience with green techniques reduces costs.
According to McGraw Hill Construction survey data (as quoted by Eye on Housing), “the incremental cost for builders to construct green homes was 8% in 2013. For remodelers, green projects raised costs by 9% on average.” Furthermore, “McGraw Hill’s analysis found that the cost to build green varied to some degree by the amount of green construction undertaken.”
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Can Your Small Business Afford to Risk the Imminent Threat of a Cyber Incident?
November 28, 2018 —
Jeffrey M. Dennis & Heather H. Whitehead – Newmeyer & Dillion LLPCybersecurity incidents are occurring on a daily basis and at an increasingly growing rate. Yet, many small businesses still have not obtained adequate (or any) cyber insurance to address these risks and the costly impacts to the business that will result. In a recent study completed by the Insurance Information Institute1, only about a third of all small businesses polled responded that they have cyber insurance in place, with 70% of respondents replying that they have no plans to purchase a cyber insurance policy in the next 12 months. Most of the businesses indicated that they do not believe they have any need for cyber insurance, yet almost half of those same companies stated they are unprepared to handle cyber threats. A main reason for not purchasing cyber insurance was a lack of understanding about this type of insurance and coverages available.
The Risks for Small Businesses
These statistics are alarming considering that the average cost of a cyber-related loss for a small business has increased 250% in the past two years, and now totals $188,400. In determining whether insurance coverage should be purchased, companies typically assess the perceived risks to the company, the likelihood of such risks occurring, as well as any costs or expenses that may result. For example, most companies regularly obtain a property policy to cover a fire or other casualty that may damage its business location even though such an event is unlikely or unexpected. Yet, cyber incidents are just as likely, if not more likely to occur, and the impacts to a company in the event of an incident are far worse. Many incidents result in a complete suspension of the daily operations of the company for several days or longer.
In addition to financial loss, companies may face the following as a result of a cyber incident:
- Theft, breach or loss of information and data;
- Damage to the company's reputation, brand or image; and
- Regulatory, governance and legal issues.
- How Cyber Insurance can Help
Cyber insurance policies can be obtained to address the losses related to a data breach and may include costs for investigating a breach, notifying people affected by a breach of personally identifiable information, managing the potential damage to reputation and other crisis-management expenses, recovering lost or corrupted data, and related legal expenses. More importantly, well-drafted policies can afford coverage for business interruption losses; i.e. those expenses and lost revenue resulting from a breached system and a company's inability to continue its usual operations. Coverage may also be obtained for "cyber extortion", which covers costs resulting from an extortion event such as ransomware or fraudulent wire transfers.
It is important to keep in mind that cyber insurance is only one component to consider when developing and implementing an overall risk management strategy to prevent cyber incidents. However, taking into account the exposure to a company if and when a cyber incident occurs, it is highly advisable to have this coverage in place.
1Insurance Information Institute, "Small business, big risk: Lack of cyber insurance is a serious threat," October 2018.
Jeff Dennis is the head of the firm's Privacy & Data Security practice. Jeff works with the firm's clients on cyber-related issues, including contractual and insurance opportunities to lessen their risk. For more information on how Jeff can help, contact him at jeff.dennis@ndlf.com.
Heather Whitehead is a Partner in the firm's Privacy & Data Security practice. Heather also practices insurance coverage matters for commercial, retail, industrial, mixed-use, multi-family and residential projects. For more information on how Heather can help, contact her at heather.whitehead@ndlf.com.
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Drones Give Inspectors a Closer Look at Bridges
January 02, 2019 —
Aileen Cho - Engineering News-RecordTed Zoli, national chief bridge engineer with HNTB, compares bridge inspections to taking his kids to the doctor. “Every few years you take another set of pictures of the bridge, and ultimately you can pattern it. You pay attention in a deeper way to responses, and have a record.” But like parents who don’t want to send kids to the doctor at the first sign of a sniffle, once managers understand the characteristics of a bridge and its behavior, they don’t need to do constant in-depth reinspections. They are constantly looking for ways to make better decisions with the data they already have. “We spend a lot of money inspecting bridges,” says Zoli. “The question becomes whether there is a more technologically efficient way to do it.”
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Aileen Cho, ENRENR may be contacted at
ENR.com@bnpmedia.com
Traub Lieberman Attorneys Recognized as 2023 New York – Metro Super Lawyers® and Rising Stars
October 24, 2023 —
Traub LiebermanTraub Lieberman is pleased to announce that seven Partners from the Hawthorne, NY Office have been selected to the 2023 New York - Metro Super Lawyers list. In addition, one associate has been named to the 2023 Super Lawyers Rising Stars list.
2023 New York – Metro Super Lawyers
2023 New York – Metro Super Lawyers Rising Stars
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Traub Lieberman
Apartment Projects Fuel 13% Jump in U.S. Housing Starts
May 19, 2014 —
Michelle Jamrisko and Hui-yong Yu – BloombergA surge in construction of multifamily dwellings in April propelled U.S. housing starts to the highest level in five months, helping overcome slack demand for single-family homes.
Housing starts climbed 13.2 percent to a 1.07 million annualized rate following March’s 947,000 pace, according to figures released today by the Commerce Department in Washington. Another report showed a measure of consumer confidence unexpectedly declined from a nine-month high.
An almost 40 percent increase in construction starts on projects such as condominiums and apartment buildings accounted for almost all of the April gain, as single-family activity was held back by declining affordability. The report highlights a shift in demand for housing in the wake of the financial crisis, which left many Americans wary of taking on new debts.
Michelle Jamrisko may be contacted at mjamrisko@bloomberg.net; Hui-yong Yu may be contacted at hyu@bloomberg.net
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Michelle Jamrisko and Hui-yong Yu, Bloomberg
BHA has a Nice Swing: Firm Supports Wounded Warrior Project at WCC Seminar
May 01, 2015 —
CDJ STAFFIn just two weeks, the 22nd West Coast Casualty (WCC) Construction Defect Seminar returns to the Disneyland Hotel in Anaheim, California. The annual event begins on Thursday, May 14th, with breakfast and registration starting at 7:30am. Panel discussions on various construction defect related topics begin at 8:30am and continue through the morning and afternoon, followed by a cocktail reception in the early evening. The following day includes break-out sessions with the event concluding in the afternoon. Attendees can enhance their seminar experience with the WCC Construction Defect Seminar Mobile App. The event schedule, speaker information, product information, sponsor details, and interactive floorplan can all be accessed through the app. Furthermore, registered attendees will have access to session presentations.
The designated charity for this years’ event is the
Wounded Warrior Project and there are several ways for attendees to support this honorable cause. In addition to the opportunity to purchase a “Buy A Banner” to hang in the seminar hall, there will be a traditional raffle for two American Themed quilts donated by Marianne Cutcher. Bert L. Howe and Associates, Inc. has also stepped up to support Wounded Warriors, and attendees will get the chance to help raise money for this cause in the following manner:
If you stop by the Bert L. Howe & Associates (BHA) booth at the seminar and try their “Sink A Putt For Charity” not only will you have the chance to win a $25 Best Buy gift card, but you’ll also have the opportunity to help raise funds for Wounded Warriors. For every hole-in-one made at their booth, BHA will also make a $25.00 cash donation in the golfer’s name to the Wounded Warrior Project. BHA strongly supports the goals and principles of Wounded Warriors, and is honored to assist the organization in fulfilling its mandate of assisting our returning military heroes who are in need.
Download an invitation and register for WCC Seminar...
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The EEOC Targets Construction Industry For Heightened Enforcement
May 15, 2023 —
Meghan Douris & Andrew Scroggins - The Construction SeytSeyfarth Synopsis: On January 10, 2023, the Equal Employment Opportunity Commission (EEOC) released for public comment its
draft 2023-2027 Strategic Enforcement Plan (“SEP”)—a document that will guide the Commission’s enforcement priorities for the next five years. The EEOC’s prior Strategic Plan described how it would pursue its enforcement goals. (See our earlier blog on the Strategic Plan
here). The Strategic Enforcement Plan, on the other hand, describes what the EEOC’s enforcement priorities will be. Earlier actions by the EEOC suggested that it might be turning its attention to the construction industry. In the SEP, the EEOC makes its intentions explicit, putting the construction industry—and especially those receiving federal funding—squarely in its sights.
History of the SEP
The EEOC’s
first SEP covered Fiscal Years 2013-2016 (the EEOC’s fiscal years begin on October 1) and identified six broad subject-matter priorities. The EEOC’s
second SEP set the course for enforcement priorities for FY2017-2022. The
latest proposed SEP, published in the Federal Register for comment for the first time, provides notable additional details that put the employer community on notice of the Commission’s intentions for FY2023-2027.[
1]
Reprinted courtesy of
Meghan Douris, Seyfarth and
Andrew Scroggins, Seyfarth
Ms. Douris may be contacted at mdouris@seyfarth.com
Mr. Scroggins may be contacted ascroggins@seyfarth.com
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Final Furnishing Date is a Question of Fact
November 10, 2016 —
David Adelstein – Florida Construction Legal UpdatesConstruction liens need to be recorded within 90 days from the lienor’s final furnishing date on the project. This date is exclusive of punchlist or warranty work. The final furnishing date needs to be proven at trial to establish that the construction lien was timely recorded. If there is an evidentiary dispute as the final furnishing date (the contractor claims the date was “x” to establish the lien was timely and the owner claims the date was “y” to establish the lien was untimely), then the date is a question of fact to be determined by the jury.
For instance, in Best Drywall Services, Inc. v. Blasczyk, 2016 WL 6246701 (Fla. 2d DCA 2016), a contractor and owner entered into an oral agreement for a residential renovation project. The contractor recorded a construction lien after its final two invoices went unpaid. During trial, the contractor offered conflicting evidence as to when its final furnishing date on the project was. Numerous dates were offered in the record including dates that were more than 90 days prior to the date the contractor recorded its lien, meaning the lien was arguably untimely. As a result, the trial judge entered a directed verdict in favor of the owner and against the contractor on the contractor’s lien claim finding the lien was untimely recorded.
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David Adelstein, Katz, Barron, Squitero, Faust, Friedberg, English & Allen, P.A.Mr. Adelstein may be contacted at
dma@katzbarron.com
