February 19, 2013

Cover Story

Forty under 40

Talented, ambitious and innovative—these are just a few of the trait...Read More

Featured Articles

Ashish Arora: Bridging the Gap Between Craft and Technology

Sophia DiCaro: Working to Keep Utah's Economy Growing

Sections

Special Report
Buried Treasure

Features
Restless Legs

Features
Pay Your Dues Making the Most of Chamber Membership

Reader's Choice
Ski and Snowboard Adventures at Twin Peaks

Legal Briefs
Software Licenses

Money Talk
Alternative Assets

Economic Insight
A Thank You to Legislators

Lessons Learned
A Crisis to Remember

TechKnowledge
Tech Savvy

EntrepreneurEdge
Setting the Stage

Business Trends
Middle Ground

Executive Living
Urban Appeal

Editor's Note
Celebrating the Past, Present and Future Forty Under 40

Industry Outlook
CONSTRUCTION

Players
Players

Around Utah
Around Utah

Article

CONSTRUCTION

February 19, 2013

With respect to the general liability, automobile liability lines, not so much of an increase. Insurance carriers are still wanting to get increases, but they’re not raising costs as much in the auto and general liability lines because they’ve had better results in those lines.

With respect to the surety industry, the capacity is still there. The carriers are strong. Particularly within the top 10 surety companies, there’s plenty of capacity. One of the things that the underwriters are going to be scrutinizing carefully for the generals is their selection of subcontractors. Where there have been claims, a lot of it has been related to subcontractor failures. They’ll work with you to pre-qualify subcontractors.

The bottom line is to work carefully with your broker and with your insurance underwriters to control your costs. With risk management, those costs can be controlled, but it takes a little extra effort to work with your broker.

TOLBOE: We’ve seen modest increases in liability insurance and workers’ comp insurance without claims. The biggest increase we’ve had is in healthcare. We’ve had 15, 17 percent with that group over the last year. And we don’t see any change in that. It seems like that is nicked up each year over the last five years or so.

Regarding super storm Sandy—Governor Cuomo asked for $42 billion in help, Governor Chris Christie is requesting $39 billion. Are we going feel the pinch on that, or are we such a big economy it’s not really going to hurt?

SNOW: Those catastrophic events, they definitely have an impact, but mostly in the property insurance sector, which affects builder’s risk. And the reinsurers, to the degree that they get punched in the gut because of this event, will trickle down and affect the cost of builder’s risk and property insurance. Going forward, we’ll feel that in years to come as the reinsurers recover from it.


We’d like to thank Rich Thorn, CEO and president of Associated General Contractors, for moderating the event.

Page 12345678
Utah Business Social
UB Events View All
SAMY Awards 2015Utah Business Event
Jan 23, 2015
Utah Business magazine along with Presenting Sponsor: Griffin Hill, Premier Sponsors: The Summit ...
Forty Under 40 - 2015Utah Business Event
Feb 26, 2015
Utah Business Magazine along with Presenting Sponsors: Kirton McConkie, BIG-D Construction and Ma...
CEO of the Year 2015 ... NOMINATIONS NOW OPEN!Utah Business Event
Mar 31, 2015
CEO of the Year Nominations end - January 7, 2015. Visit: www.utahbusiness.com/nomination_item...
Community Events View All
Create Success: Intellectual Property Protection for Growth Technology Companies
Dec 31, 2015
This is a presentation by Michael Best, a major national leader in the commercialization of Intel...
Inbound Marketing SLC: Focus on Ecommerce
Dec 31, 2015
Come learn from four ecommerce experts how to grow your business through inbound marketing. Regis...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel