According to McKinsey, construction is one of the largest industries in the world, with more than $10 trillion spent on construction goods and services. Because of fragmentation and underinvestment in digital technology in business operations such as accounting and compliance, labor productivity has averaged only 1 percent yearly compared to 2.8 percent in other industries. …
In a recent update that might stir conversations within the insurance sector, State Farm General Insurance Company, based in Bloomington, IL, has seen a significant adjustment in its financial ratings. AM Best, the global credit rating agency with a focus on the insurance industry, has recalibrated State Farm General’s Financial Strength Rating (FSR) from an…
Large commercial construction projects are intricate endeavors that involve many moving parts, each contributing to the project’s overall success. Among these critical components, ensuring subcontractor compliance stands out as a complex challenge. In this article, we delve into the main reasons why tracking compliance of subcontractors on large construction projects can be a daunting task.
This is an article explaining the important of certificates of insurance. to manage risk on construction projects
