Andrew Witik of Christensen Hsu Sipes discusses the current trends in state courts’ interpretation of the defined term “occurrence” in a CGL policy.
It is undeniable that the construction industry is experiencing a period of expansion and success since the gloomy years of the great recession. This rapid growth in the volume of new construction has created unique opportunities for millennials to enter an industry in which entry-level positions are bountiful and the compensation is enticing.
However, young construction professionals are entering a workforce with one of the highest age gaps between senior-level managers and fledging graduates who are seeking life-long careers in construction. Studies show that the construction industry has surpassed all other industries in age gap from the beginning of the great recession to the present-day boom by about two years. The average age of construction professional currently sits at about 40, which means the industry is facing an era of transition where experienced project managers and superintendents are phasing out of their careers—and the void is being filled by a new generation of skilled workers.
Reprinted courtesy of Adam Quiñones, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.