Insurance/Legal Matters in Restoration

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As contractors move from pen and paper to digital documentation they’re left wondering what happens to the data they share. Kelly Ruane Melchiondo, a construction attorney with expertise in data privacy and security, answers commonly asked questions.

Every restoration company encounters a certain percentage of projects that turn out to be undesirable, unprofitable, or uncollectible. Sean Scott likes to call these jobs the rotten eggs of restoration. Here he shares key things to consider when job leads are called in.

CoreLogic acquired Next Gear Solutions Sept. 15. "I look forward to leading this new team as we continue to innovate for restorers, insurance carriers and property owners, making good on our mission to help millions of people to protect and restore the homes they love,” Gray said. 

With a good subcontractor agreement that has solid insurance requirements, many of the most expensive losses in the restoration business can be offloaded on a primary basis onto the subcontractor’s liability insurance policies.

"While the implications of this acquisition on restoration contractors is not yet fully known, RIA members and constituents have concerns about how their data is being used and how it will impact the future of their business," the statement reads. 

CoreLogic acquired Next Gear Solutions on Sept. 15, 2021. Here, Garret Gray, founder and CEO of Next Gear Solutions dives into what this means for restoration contractors.

The deal, called "a very major event" by RIA President Mark Springer, combines Next Gear and CoreLogic’s Claims Connect platforms, property data and analytics, and tools for restoration contractors and insurance carriers.

David Dybdahl discusses the insurance picture for restorers’ business insurance over the next 12 months and suggest some adaptations to address impending changes in that risk picture.