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The new water management standard enforces Mandatory Water Systems Management Plans, Active Automatic Flow Monitoring Shutoff (AAFMS), and coverage for temporary and permanent water systems. Equally, many insurers will require compliance with JCoP guidelines to provide coverage.
The partnership combines WINT’s industry-leading AI-based water management solutions with HSB’s unique expertise in IoT technology and OEM uptime warranty solutions to provide businesses with an ultimate solution to protect from water leak damage. Water leaks are a major point of pain across the real estate and construction industry.
has hired Jim Kilnoski, GISP, adding his national experience with FEMA’s flood insurance study process to our stormwater group to help communities develop resilience. In his GIS work on FEMA flood risk projects in multiple states, Kilnoski has led development of innovative tools and consistently delivered high-quality final map products.
It standardizes contractor management and ensures contractors meet specific safety, insurance, and compliance expectations for hiring clients. Insurance Documentation: Submit certificates of insurance (COI) with precise wording and coverage mandated by Mohawk Industries. Not sure where to start?
As a climate tech investor, we were greatly impressed by WINT’s vision to bring sustainability and risk mitigation into water management, coupled with its ability to rapidly rise to market leadership in this fast-growing space,” said Michal Mravec, Investment Director at Inven Capital. NEW YORK — Aug.
WINT’s AI-powered water management technology has been responsible for saving millions of gallons of water per year, and has positively reduced the carbon footprints of historic structures like the Empire State Building and entities like the Weizmann Institute of Science. Yaron Dycian is the Chief Strategy Officer for WINT Water Intelligence.
Nammo Defense Systems, a leader in cutting-edge ammunition, rocket motor development, and other advanced solutions, is now utilizing the ISNetworld contractor management platform to streamline its contractor selection process. This approach isnt just about safetyit also increases efficiency and reduces risk for all involved parties.
Rydon said its settlement is being covered by its insurers. The provision is also understood to include the potential outcome of ongoing talks with individuals not included in the BSR Cohort 1 group civil case settlement. Lawyers for the BSR group took action against 22 firms in total.
Understanding Dominion Energy Compliance Through ISNetworld ISNetworld is a leading contractor management platform that simplifies the process of hiring safe, reliable, and qualified contractors. Supporting Documentation: Include any other documentation Dominion Energy mandates, like insurance certificates or specific training records.
Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet.
will focus on the connection between technology adoption in construction and reducing the cost of risk. will focus on the connection between technology adoption in construction and reducing the cost of risk. Ghanbarian has more than 15 years of dedicated experience in home services and water management solutions.
WINT’s success in preventing water damage has helped accelerate the growth of its insurance network, which includes carriers, brokers, MGAs and risk-engineering firms and has nearly tripled during the year.
WINT’s success in preventing water damage has helped accelerate the growth of its insurance network, which includes carriers, brokers, MGAs and risk-engineering firms and has nearly tripled during the year.
Risk Data Uncovered: How Technology is Transforming RiskManagement in Construction , produced in partnership with Frost & Sullivan, provides compelling data that underscores the value of tech-enabled practices in reducing risks and protecting your most critical assets: your people.
If developers and building managers want to ensure steady continuity all year round without any prevalent setbacks and minimal risks, they must ensure their site is equipped with sufficient security measures that protect valuable assets and maintain worker safety. Legal compliance : Meeting insurance requirements and local regulations.
By Taylor Ferranti, Commercial Vice President, Refrigerant Management Recently, the HVACR industry has been managing a new challenge when it comes to refrigerant management: counterfeit refrigerant recovery cylinders. DOT-certified cylinders minimize leakage risks, protecting the environment. Be familiar with your policy.
The post Insurance and Liability in Construction: A Comprehensive Guide for Global Construction Professionals appeared first on ConstructionPlacements. Learn from case studies, explore future trends, and adopt best practices to safeguard your projects.
Dan Simmons, Managing Director and founder, Quensus If insurers were asked to rank what they see as the most costly damages they could incur, you would expect factors like weather, fire and theft to sit high up the table. But what are the tools companies can use to minimise the risks of EoW? Clearly, its a major problem.
Polygon , one of the largest global Property Damage Control and Temporary Climate Solutions providers, is pleased to announce they have partnered with WINT Water Intelligence , a leader in cutting-edge water management and risk mitigation solutions, to add real-time leak detection and auto shut-off water supply technology to their portfolio.
Cyber incidents such as data breaches, ransomware attacks, and IT disruptions are the biggest business risks for companies globally in 2025, according to the Allianz Risk Barometer. The Risk Barometer also surveyed Construction and Engineering risk experts to identify the threats keeping them up at night.
Water damage continues to be a source of significant risk in buildings and on job sites. As insurers face rising payouts for water damage claims, deductibles have climbed sharply, resulting in a severe impact on profitability for contractors and developers.
This includes property acquisition and demolition, elevation, and relocation of buildings insured through the National Flood Insurance Program. Part of the larger $50 billion Bipartisan Infrastructure Law and Inflation Reduction Act, the flood relief program now has a total of $660 million set aside for eligible projects.
Procore Risk Advisors is excited to introduce two innovative in-house insurance programs exclusive to Procore customers: Builders Risk and General Liability Wrap-up (GL). Transforming data into risk profiles Let's draw a parallel with Tesla - a pioneer in the automotive and energy industry.
“Since 2011 the MBMA and our Safety Committee, under the direction of chair David Weatherford, has presented awards to 369 plants and facilities,” says Tony Bouquot, MBMA general manager. including boosting employee morale, improving operations, and mitigating insurancerisks and exposure to OSHA audits.”
construction industry continues to benefit from steady economic growth, most insurers providingarchitects and engineers (A/E) professional liability insurance are concerned about the persistent effects of inflation on claim expenses, uncertainty about the U.S. One insurer estimated claim costs are rising 3 – 5 percent annually.
Real Estate Portfolio Management: Property managers, real estate brokers, portfolio managers, and private equity firms can use EagleViews data to analyze trends across properties to assess risks, optimize performance, or identify emerging opportunities. For more information, please visit: [link].
Construction-to-permanent loans are considered high risk, so capital partners are usually quite involved in ensuring that the project stays on time and on budget. Managing construction loans is easier with a real estate platform like Rabbet. The borrower makes payments on the interest during this time period.
Toll Brothers is acting as managing member and development lead for the project, overseeing approvals, design, construction, and sales. Bank OZK is delighted to finance another project for a quality sponsor like Toll Brothers and its partner Daiwa House,” said Dave Sarner, Managing Director of Originations at Bank OZK.
NEW YORK — WINT Water Intelligence , a leader in cutting-edge water management and leak-prevention solutions, ranks among the top nine insurance technology innovations of 2024, according to a panel of industry experts. Finalists such as WINT are selected through a rigorous, independent judging process.
So how can companies optimize for their bottom line without putting their businesses at risk? . Firms that want to stay both competitive and resilient in an evolving economic landscape need a strong riskmanagement strategy – yet this is easier said than done. Riskmanagement is a multifaceted challenge.
This process analyzes their performance, management process, resources, and capacity. Working with contractor management services can streamline the process, help you set up your accounts, and free up your time so you can focus on what you do best. These can relate to your insurance, financial stability, safety records, etc.
Panelists for the upcoming webinar include Stacee Barkley, global diversity, equity, and inclusion leader for DPR Construction ; Abby Ferri, CSP , chief risk officer for Insurate ; and Cal Beyer, vice president of workforce risk & worker wellbeing for Holmes Murphy. To access the new course, visit [link].
Roads & Infrastructure sits down with Michelle Morrissey, National Claims Manager – Underwriting Agencies of Australia, to learn key insights and tips on how the industry can better navigate machinery and plant insurance claims. It’s important to look at your sums insured for each piece of equipment.
A recent study by Munich Re, a global leader in insurance and riskmanagement, found that locations protected by WINT dramatically reduce the number and impact of water damage incidents: sites, where WINT was installed, were found to submit 73% fewer insurance claims and resulted in 90% fewer payouts when compared with sites not protected by WINT.
For contractors, these come in the form of a process known as prequalification and contractor management. What is Contractor Management? Contractor management is a series of checks ensuring that the contractors follow up-to-date safety practices and conform to health and regulatory standards.
He’s happy because 20 years ago he left a lucrative career as a hedge fund manager to start a construction company in Rehoboth Beach, Del., John “JD” DiStefano carries that flag to the field as one of the company’s two production managers in Delaware. Such is the story of Schell Brothers, our 2023 Builder of the Year.
As building operations become increasingly complex and demanding, the need for better water management solutions is critical. Awareness of the continuing carbon impact of inefficient water management is also leading the industry to search for ways to take a proactive approach to water management in the buildings of the future.
Quality Management Audit Confirm the company has a quality management system, like ISO 9001. Risk and Safety Measures Verify compliance with occupational health and safety standards. Insurance Coverage Confirm the company holds liability insurance to cover potential incidents. ultrasonic testing). per inch).
These geological phenomena, often overshadowed by more visible risks, pose significant threats to the stability and longevity of buildings. In todays construction projects, the lack of consideration for this risk implies heavy losses, both financial and in terms of business performance.
Material provided by Underwriting Agencies of Australia Road construction insurance can differ considerably from other forms of earthmoving and civil works. This article discusses why and touches on some of the risk, and risk mitigation, nuances. That value becomes the basis for the policy sum insured.
Construction companies must adopt proactive cash flow management strategies to thrive in this environment. The Current State of Construction Finance Construction firms are more often faced with the problem of being less productive, possibly with higher operating costs due to inefficient financial management systems.
When planning a construction project, understanding the full scope of costs is crucial for accurate budgeting and project management. They may require different tax strategies and depreciation schedules or carry different risks. What Are “Soft Costs” in Construction?
Long-Term Prevention Methods The protection against future storm damage depends on implementing a full-scale strategy. One should recognize the vital need to prepare roofing structures to withstand severe weather conditions.
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