Skyrocketing lumber prices threaten to thwart the momentum of the U.S. housing market, which for months has been one of the brightest stars of the recovery from the pandemic recession. At the onset of the health crisis, “the mills stopped …
Amid ups and downs, the construction market has nevertheless enjoyed steady growth over the past four years. Now construction insurance specialists believe the market is really heating up. The competition has carriers maintaining a market favorable to buyers, especially those …
Berkshire Hathaway Specialty Insurance (BHSI) has expanded its construction-focused capabilities with the introduction of the Homebuilders Liability Insurance Policy, which extends flexible protection for tract homebuilders nationwide. Bill Sullivan, vice president, head of Construction Casualty for BHSI, said its proprietary …
ProSight Specialty Insurance, a global insurance group in the construction industry, has launched a new product that will provide residential and commercial contractors with additional cash flow through a “payas you build” feature with a low deposit premium called Builders …
It has not been easy being an insurance agent specializing in the homebuilders insurance market during one of the worst economic recessions in U.S. history. Survival in the recession meant change and a lot of hard work. “I’ve worked harder …
Cove Programs has expanded its product offerings and staffing to support the most recent national increase in homebuilding. In addition to its program for larger production homebuilders in the country, Cove Programs now offers coverage and a flexible policy structure …
The size and value of homes being built in tornado-ravaged sections of Joplin, Mo., are causing contention between some builders and homeowners, but city officials say they can do little to mediate the disputes. Many of the disagreements center on …
Ohio’s high court has held that home builders have a duty imposed by law to construct a home “in a workmanlike manner using ordinary care,” despite the wording of any warranty document. The Supreme Court of Ohio held unanimously that …
A federal appeals court revived a lawsuit by homeowners who accused eight major homebuilders of causing them to overpay for their homes by marketing nearby houses to high-risk borrowers who later went into foreclosure. Against what it called “the backdrop …
