ConstructorCast

COVID-19 has led to a surge of project cancellations and shut down construction almost entirely in some states, as per AGC’s coronavirus survey results. In this episode, Ali Mills from Plum Contracting Inc., talks about how the new federal Paycheck Protection Program has made a meaningful difference for her company, allowing her to rehire and retain employees and endure the construction stop order in Pennsylvania. As construction is given the green light in PA on May 1, Ali anticipates all her employees will be back to full salary, a story that she will also share at a press conference at the White House today.

On April 23, the U.S. Department of the Treasury issued new and troubling guidance on the Paycheck Program. This guidance recasts one of the several vague certifications that borrowers have to make, suggesting that it requires borrowers to prepare themselves “to demonstrate” that, at the time they applied for the loan, that they did not have access to enough other “sources of liquidity” to support their ongoing operations. In this episode, two partners in one of Washington’s most prominent law firms, Crowell & Morning, put the new guidance into context and explain how borrowers should respond to it, including the potentially severe consequences of not assembling the documentation they might need. This information is significant as AGC’s Chief Economist reports that a large share of construction firms have received loan funds, allowing contractors to add and retain employees, as evidenced by AGC’s latest survey results.

In this episode, AGC explains key changes in Version 3.0 of the feds guidance for identifying the “Essential Critical Infrastructure Workforce,” which state/local governments may use to decide what construction activities may continue during the pandemic. Recognizing that many firms are struggling to retain their crews, we update you on the federal Paycheck Protection Program that ran out of funding last week, and what relief small business contractors can expect in the near term. Also this week, Congress is expected to release a Water Resources Development Act (WRDA) reauthorization bill; listen as AGC shares its top priorities and key polices to protect the nation from floods and keep our waterways open to navigation.

Today, our host Leah Pilconis talks with Cory Gattie about how AGC of America is making infrastructure a key part of our economic recovery suggestions as we work with Congress and the Trump administration to rebuild the economy. Leah also talks with AGC’s Brynn Huneke about how the association’s new Culture of CARE program can help firms and workers as they cope with the challenges of COVID-19.

Learn more about our Culture of CARE at www.buildculture.org.

The harsh reality is that 30 years of work can be destroyed in 30 seconds. It's difficult enough to plan for things that are happening, much less the things that might happen. But statistics show your company will, at some point, face a crisis situation of some type. Preparation is key to ensuring a professional and prompt response for your workers, customers/clients and the public.

On this episode, Anthony Huey, president of Reputation Management and creator of CrisisDriver, shares communication tips, techniques and tools that any construction firm can use before, during and after any unfortunate incident to protect their hard-earned image and reputation.

Anthony Huey, President at Reputation Management, LLC https://www.communicateclearly.com/

CrisisDriver -- An industry-focused incident response software solution that enables companies to quickly and efficiently respond to and manage negative events; learn more at https://www.agc.crisisdriver.com.

Find additional tools and resources on AGC’s Crisis Response and Communication Resources Web Page: https://risk.agc.org/crisis-response-resources/

This episode of ConstructorCast COVID-19 Special Edition offers a preview of the week ahead, including more details on the April 9th National Coronavirus Safety Stand Down and the steps AGC of America is taking to get the Small Business Administration to fix the qualification guidelines for its new Paycheck Protection Program loans so that all construction firms that employ 500 or fewer people can qualify.

Construction firms are vulnerable to many forms of cyberattack, including social engineering, ransomware attacks, wire fraud, and hacking. On this episode, Nikki Ingram, a cybersecurity risk engineer with Zurich North America, talks about what you need to look out for and shares some tips and preventative measures that will help contractors protect themselves. Nikki also presented a breakout session on cyber risks at AGC’s 2020 Annual Convention in Las Vegas. Link to her PowerPoint: https://bit.ly/39wmwIF

Additional Resources:

AGC of America has several on-demand webinar recordings covering cyber issues for contractors. Check out the collection on AGC’s Risk Management WebEd and Podcast Recordings page (https://www.agc.org/industry-priorities/risk-management/risk-management-webed-and-podcast-recordings), which includes:

• New Cybersecurity – New Mandatory Requirements for Defense Contractors

• New FAR and DFARS Cybersecurity Requirements for Federal Contractors - What You Need to Know

• Wire Transfer Fraud: Understanding and Insuring the Risk

Zurich’s Cyber Liability Risk Management Web page: https://www.zurichna.com/insurance/cyber

National Institute of Standards and Technology Framework for Improving Critical Infrastructure Security (NIST Cybersecurity Framework) -- This voluntary Framework consists of standards, guidelines and best practices to manage cybersecurity risk, online at https://www.nist.gov/cyberframework.

There is so much going on in Washington DC, especially the last two weeks. We brought together our team of lobbyists who have been worked to help craft the coronavirus relief bill that is set for a vote as early as today (March 27, 2020) in the House. They provided an analysis of what is in the measure and how it could help the construction industry.

Natural Disaster Impacts on Construction Projects – PART 2: In this final episode, our expert panel explores how to navigate through a complex property and/or business interruption claim, common insurance policy coverage issues, and strategies to full recovery after a natural disaster. Check out Part 1 for best practices on preparing for and mitigating the impacts of a natural disaster.

Speakers:

Tracy Alan Saxe, Partner at Saxe Doernberger & Vita, P.C. www.sdvlaw.com

Frank Russo, Founder/Principal at Procor Solutions + Consulting www.procorllc.com

Joseph Poliafico, Global Director Insurance & Risk Management at Interstate Restoration www.interstaterestoration.com

Read more or listen to Part 1 here:

https://www.agc.org/news/2019/12/18/new-constructorcast-episode-natural-disaster-impacts-construction-projects-–-part-1

We kick-off this two-part series discussing how natural disasters affect construction; pre-loss planning; lessons learned in mitigating losses – including insurance considerations before the event; and challenges in restoration and resumption of business operations, immediately post-impact. Stay tuned for Part 2 for expert advice on how to present a natural disaster claim for insurance recovery.

Listen in as three experts in claims management, litigation and restoration discuss how they have worked through these tough issues and offer their advice on how you can do the same.

Speakers:

Tracy Alan Saxe, Partner at Saxe Doernberger & Vita, P.C. www.sdvlaw.com

Frank Russo, Founder/Principal at Procor Solutions + Consulting www.procorllc.com

Joseph Poliafico, Global Director Insurance & Risk Management at Interstate Restoration www.interstaterestoration.com

Read more: https://www.agc.org/news/2019/12/18/new-constructorcast-episode-natural-disaster-impacts-construction-projects-–-part-1