By: Christopher E. Nyenhuis and Mark A. Rysberg On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law. The IIJA appropriates $1.2 trillion in funding for physical infrastructure improvements. This represents the...
Insurance coverage is an integral part of the construction process. The contract documents rely on insurance to facilitate the risk allocation and risk transfer needs of the project. These contractual specifications lay out the types of coverage, policy limits, and...
The Great Recession is still fresh in many people’s minds. Those involved in the construction industry certainly recall how those economic problems resulted in tightening cash-flow and the demise of contractors such as Lamar Construction. The present crisis is causing...
An important case for contractors and subcontractors has surfaced at the Michigan Supreme Court. Skanska USA Building, Inc. v. M.A.P. Mechanical Contractors, Inc. raises the question: is property damage coverage under a standard commercial general liability policy...
On January 1, 2019, the limitation on premium revenue under IRC 831(b) increased from $2.2 million to approximately $2.3 million. This occurred by operation of 26 U.S.C. 831(E), which provides that the $2.2 million limit shall be increased annually by a cost-of-living adjustment rounded up to the next lowest multiple of $50,000.
By Mark Rysberg, Esq. and Daniel Hatch, Esq. Attorneys Mark A. Rysberg and Daniel J. Hatch of Hilger Hammond recently authored a comprehensive article in CFMA Building Profits magazine regarding captive insurance programs and how they can improve a contractor’s bottom...
By Mark Rysberg, Esq. In 2018, the Michigan Legislature repealed Michigan’s prevailing wage statute following a citizen led initiative to repeal the same. A group supporting prevailing wage law, Protect Michigan Jobs, recently challenged the validity of the repealing...
By: Mark A. Rysberg Captive insurance within the building construction industry is well established. Such programs are generally developed to reduce insurance premium costs and to approach risk management from a strategic perspective. Captive insurance programs can...
By: Mark A. Rysberg A controlled insurance program (CIP) can be implemented on a construction project to provide project-specific coverage that is directed at managing the risks transferred to third-party insurers. There are generally two forms of CIPs; those...
By: Mark A. Rysberg The short answer is: no. From the perspective of some people, the reduction in the corporate tax rate from the rate that existed in 2017 to the rates that will be applied in 2018 eliminates the incentives for captive insurance participants to elect...