Workers’ Compensation And The “Experience Modification Factor”
If you’re in the market for a Workers’ Compensation insurance policy you may have come across something called the Experience Modification Factor. The experience modification, or e-mod, is a value that is used to adjust workers’ compensation premiums. It’s based on past insurance claims and future risk likelihood. A lower e-mod will translate to lower insurance premiums,
Barriers To Attainable And Affordable Homeownership In Colorado
Home ownership is becoming more and more unattainable for the average Coloradan. Even though there is demand, there just aren’t enough affordable housing options for the average home buyer. The reasons for this are more complex than simply over-priced homes and have repercussions that extend beyond only home buyers. Housing And Discretionary Income In
Why The Remedy Under The Homeowner Warranty Program, May Not Be A Remedy At All
Home warranties are supposed to give homeowners peace of mind and reassurance that if any major home issues crop up, they have some protection against repair and replacement costs. Unfortunately, some home warranties make more promises than they can deliver. In these situations, the home warranty coverage may not be worth it or the service
The Dangers of Overstating a Construction Lien
Construction Liens offer protection for construction professionals against non-payment. They can be filed by the general contractor or by subcontractors as a way to collect payment that is due to them. Although Construction Liens appear to benefit contractors, they could work against the contractor if they are not filed properly. Liens that are filed improperly,
The Relationship Between the Architect, General Contractor, Subcontractors and Building Inspector for Construction Defects
There are so many different professionals involved in construction projects that it can be incredibly confusing to know who to contact when construction defects are found. What is the responsibility of each of the parties and to whom do you turn first? Not Always The Builder’s Fault The knee-jerk reaction of most people is to
Statute of Repose: What Constitutes an Unsafe Condition?
Construction defect lawsuits continue to rise for many reasons. There is a greater consumer understanding of construction defects and a willingness to pursue litigation over even the most minor of real or perceived construction defects. There are more attorneys willing to bring construction defects cases to court, and there is a lack of judicial clarity
Validity of “Pay When Paid” Provision
“Pay When Paid” provisions are increasingly common in the Colorado construction industry. Subcontractors have become used to seeing these clauses added to their contracts and typically sign them, even if they are reluctant to do so, because otherwise they wouldn’t get the job. The trouble with “Pay When Paid” clauses is that they shift the
How Homeowners Can Protect Themselves When Hiring Contractors For Home Improvements
Homeowners open themselves up to risk every time they have a handyman or contractor perform work for them. There is risk that the work won’t be done well and the contractor won’t fix it. There is risk that someone working on the house gets injured and sues the homeowner. There’s even the risk of theft
“No Voluntary Payment” Clauses In Insurance Policies Lose Some Effects In Colorado
Many construction businesses will find a “no voluntary payment” clause in their business liability insurance policies if they look deep enough. This clause provides insurers’ an out to deny claims coverage if the policyholder attempts to settle a claim without the insurer’s prior knowledge or consent. The clause may be used to deny a policyholder
Getting Paid in Difficult Economic Times: What Contractors, Sub-Contractors and Suppliers Need to Know
Slow payments or even non-payment for work performed are all too common in the construction industry. You’d be hard-pressed to find a construction contractor who hasn’t had to deal with late payments or difficult clients who refused to pay. Oral promises and a handshake just don’t cut it anymore. If you want your business to
