construction insurance News

Manhattan Crane Collapse Linked to Owner, Operator With Past Safety Violations

As authorities continue to investigate a crane collapse that rained thousands of pounds of steel debris onto a busy Manhattan thoroughfare Wednesday, the owner and operator of the failed crane are facing scrutiny over past safety failures. The tower crane, …

New York City Construction Crane Catches Fire, Collapses and Crashes

A towering construction crane caught fire high above the West Side of Manhattan on Wednesday morning, causing its long arm to snap off, smash against a nearby building and plummet to the street as people ran for their lives on …

Risk Strategies Acquires Castle Rock Capacity in New York

National specialty insurance broker Risk Strategies has acquired Castle Rock Capacity, a property/casualty insurance broker with a specialty in the construction, real estate and development industries. Headquartered in New York City, Castle Rock was co-founded in 2006 by Jon Lipton, …

Fire Fears After UK’s Grenfell Disaster Set Back Wood Building, With Insurance as Factor

To get fire department approval for their six-story London office project made of strong engineered wood known as mass timber, Theo Michell and Richard Walker had to build a full-scale section of it in the UK, ship it to Poland …

French Building Collapse Kills at Least 6; Gas Explosion Suspected

French investigators are treating the deaths of at least six people who were killed when a building collapsed in the city of Marseille as a possible “involuntary homicide” case, a prosecutor said Tuesday. Prosecutor Dominique Laurens said an investigation was …

Building Explodes and Collapses in Marseille, France

More than 100 firefighters worked against a ticking clock to extinguish flames deep within debris to save up to 10 people possibly buried after a building exploded and collapsed early Sunday in the French port city of Marseille. Interior Minister …

UK Builders Face Ban Unless They Commit to Repairing Unsafe Cladding

Eleven property developers could be barred from the industry unless they sign a UK government contract to repair unsafe cladding on apartment blocks, according to Michael Gove, the secretary of state for housing. While 39 firms signed the commitment by …

Britain Proposes Reforms for Insuring Apartment Blocks After Deadly Grenfell Tower Fire

Britain’s financial watchdog has proposed reforming how apartment blocks are insured after the deaths of 72 people in the Grenfell Tower fire in London led to rocketing premiums on policies. The Financial Conduct Authority said on Wednesday that since the …

People Moves: AXA XL Names Ensurance’s Burgess as U/W, Construction, UK & Lloyd’s; Aon strengthens M&A and Transaction Team With 3 Hires

This edition of International People Moves details appointments at AXA XL and Aon. A summary of these new hires follows here. AXA XL Names Ensurance’s Burgess as Sr. U/W, Construction, UK & Lloyd’s AXA XL Insurance announced it has appointed …

UK Regulator Pushes Insurers to Cut Premiums for Fire-Risk Apartments

Thousands of people living in high-rise apartments in Britain are set to get better deals on their property insurance following years of spiraling costs in the wake of the Grenfell Tower tragedy. The Financial Conduct Authority is expected to push …