PLATFORM Expands Its Construction Industry Group with Key Hires in Edmonton
PLATFORM Insurance Management Inc. (“PLATFORM”) is excited to announce the addition of five outstanding professionals to its growing Construction Industry Group. This talented team, based in Edmonton, Alberta, will anchor PLATFORM’s new Edmonton office, set to open soon. This strategic expansion reinforces PLATFORM’s commitment to delivering unparalleled expertise and service to clients across Western Canada, […]
Building the Perfect Asset Portfolio – Optimizing Total Cost of Ownership and Risk for Best Outcomes
By: James Gilles, Managing Director, Real Estate When it comes discussions around risk management approaches, risk advisors traditionally lean on the concept of “Total Cost of Risk” to help inform their clients on what they need to consider when selecting/setting up their risk management program. While Total Cost of Risk is a vital concept for […]
Rethinking Project Profit, Contingency & Premiums
Driving Better Project Outcomes Through Better Risk Data By David Bowcott Construction industry project budgets have far too much capital allocated to unknown costs and risks. Sure, construction is an industry fraught with many unknowns, but with advancements in data science and technologies that allow us to better capture and organize data, it seems like […]
The Power of Optionality in Performance Security
By David Bowcott Economic uncertainty, driven by inflation, rising interest rates, and geopolitical instability, is increasing tension between construction contractors and project owners over performance security structures. When contractors have ample resources, project owners may demand less security. However, in today’s climate—marked by limited contractor availability and rising material costs—demand for more robust performance security […]
Why Developers Need Diversified Deposit Insurance
By: Brendan Farrow, Associate Director at PLATFORM Toronto’s real estate market has seen significant turbulence lately, with several condominium projects going into receivership. Surety providers have been notably impacted, which raises a critical issue for developers: the need for a diversified Deposit Insurance strategy. In such a volatile market, having the right Tarion Bonding & […]
On-Demand Surety Bonds for Real Estate Development
PLATFORM Disrupts Industry as Stephanie Kuntz Leads the Charge At PLATFORM, a key focus has been expanding the Canadian marketplace by onboarding new surety providers. This disruption of the oligopoly that once dominated the Canadian surety industry has fostered innovative solutions to both traditional and new challenges, creating a more competitive and independent insurance […]
Rethinking Project Profit in the Data-Driven Era
Combining Data, Risk Controls and Risk Retentions Strategies to Drive Best Outcomes By David Bowcott We have entered the digital construction age where an increasing number of contractors are devising improved data architecture for their organizations, and are harnessing the power of digital data capture, at a project level, to drive best project outcomes. Given […]
Mega-Hospitals: Securing & Assuring Major Subcontractor Performance
The Canadian construction marketplace has entered its “golden age” of mega-hospitals. With well over a dozen large to very large hospitals already in various stages of procurement, there appears to be more coming in the pipeline. Even though there was another era of major hospital developments in the early 2000’s stretching into the early 2010s, […]
Spotlight On: Parametric Insurance & Extreme Temperatures
Extreme temperatures have significant impacts on both businesses and individuals, creating a range of risks that are becoming more pronounced with climate change. Impact on Businesses 1. Infrastructure Strain and Failures: Extreme heat can cause critical infrastructure to fail, including power outages, and damage to roads, rail lines, and cooling systems. For example, during heatwaves, […]
PLATFORM Strengthens Construction Industry Group with Additional Key Hires
PLATFORM Insurance Management Inc. (“PLATFORM”), a leading national brokerage specializing in property and casualty insurance and surety solutions, is thrilled to announce the addition of two seasoned professionals to it’s Construction Industry Group. Jeff Saranko has joined PLATFORM as Senior Vice President. With over 25 years of experience in the surety industry, Jeff has been […]