News and INSIGHT
The Supreme Court has reversed (by a 4:1 majority) the Court of Appeal decision in Impact Funding Solutions Ltd v AIG Europe Insurance Ltd on the application of a “Trade Debts” exclusion in a solicitors’ professional indemnity policy.
Industry representatives are hailing remarks from Theresa May, in which the new prime minister pledged to support the growth of UK infrastructure and housebuilding.
While the long-term repercussions of Brexit are still uncertain, the more immediate effects are quite clear—Britain may be headed toward a recession.
The sector is struggling with profitability despite positive performance indicators showing projects are running to budget.
Regular health and safety inspections are recommended for any company, especially those that are often inundated with hazards, such as those in the construction industry.
Since the new sentencing guidelines for health and safety offences came into force in February of this year, 38 per cent of the 101 fines issued have gone to construction firms.
Beginning on 3rd October 2016, HSE inspectors will be conducting surprise inspections at construction sites where refurbishment projects or repair works are underway.
While collecting late payments is a relatively constant problem that affects businesses across nearly every industry, it is the single largest risk to the long-term sustainability of construction firms - especially small to mid-sized enterprises.