A Note from the Underwriting Desk
2022 was full of ups and downs across the marketplace as we continued to see both a rise in material prices as well as supply chain volatility adversely affect the delivery of your projects. Though challenging, many of our partners experienced another healthy year with revenues at or close to “best years ever” and backlogs that look to take them deep into 2023, with some even into 2024. There is a level of skepticism, however, that the current market trajectory is beginning to flatten.
As we enter the New Year, we look back at the mutual success that Hudson and our contractor partners have had and share some industry updates.
2022 - By the Numbers
Along with this strategic growth came the corresponding claims activity; 2022 saw an increase in notice activity, likely driven by a combination of added business volume and market conditions. Losses remained in line with expectations but a core trend for large losses are critical path trades (concrete superstructure, wood framing and electrical). It is important to continue to invest in AND trust your prequalification process. This is no time to make exceptions! When possible, implement some element of continuous qualification of these key trades. (WIP collection and quarterly financial review are commonly deployed controls.) These practices will improve the operational management of a subcontractor that comes under stress during the lifecycle of your projects.
Lastly but most importantly, we thank you for your continued trust in Hudson as your SDI partner.
New business partners
Projects added to portfolio through (11/1/22)
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SDI NEWSLETTER
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The hotspot "on view - cycle next number (0% to 19%)", located above the large numbers on the canvas, has an On View Cycle – Next interaction. This interaction triggers the slideshow to continuously cycle through the text layers in the group "0% to 19%" at a .01 sec rate. Once it cycles through all the text layers, the last layer in the group is an additional hotspot "on view - stop cycle" which has two interactions applied to it. The first interaction shows the last text layer, "19%". The second interaction hides the "on view - cycle next number (0% to 19%)" hotspot to prevent it from cycling through the group again.
To replace an image, select the png or jpeg on the canvas or in the layers panel and click the "Replace image" button, which is next to the image thumbnail in the design panel. Any applied animations, interactions, image edits, or object states to the original image will carry over to the new one.
Tip: Try to make the new image a similar size and dimension to the image being replaced.
Object states give you the ability to assign various “states” to an element on the canvas. You can also apply object states to images that have been masked to create some really unique effects. In this example the image has a default state and a hover state. In the hover state, the image increases in size. The image is masked to the rounded square shape. Thus, when the user hovers over the image it looks like the image is zooming in as the image is constrained to the masked rounded square shape.
Remove the background of images by simply right clicking on an image and selecting “Remove Background.” In a matter of seconds, the foreground will be detected, and everything else behind it will disappear automatically, leaving behind an image with a completely transparent background.
Masking assets in the studio allows you to transform images and GIFs into virtually any shape you want. To mask an image, place a shape over the image on the canvas. This can be a standard shape (circle, square, triangle) from the Ceros shape tool, or a custom shape you’ve created using the path tool. You can also use PNG images and SVG Icons as masking objects as well. Then, select both the masking shape and original asset by holding down shift and clicking on both objects on the canvas or in your layers panel. With both objects selected, right click and select “Create Mask” from the right click menu. Your original asset will be cropped into the masking shape that you’ve applied.
Create an engaging and interactive landing page to display features using object states, masks, and blending modes.
Template - Professional Services Landing Page
1280px x 2050px
The "On Click- Cycle Next/Previous" interaction triggers the carousel to cycle to the next asset or group of assets in a designated folder or group.
JANUARY 2023
SDI NEWSLETTER
©2023 Hudson Insurance Group. The information contained in this newsletter is for general information only and shall not modify the terms of any insurance policy.
Total subcontract value
Wallace Moreman
William Lane
Andrew Thompson
Jamie Curcio
Charlie Tasto
Michele Schultz
Senior Vice President
Subcontracts issued
For any additional questions, please do not hesitate to reach out to anyone on our team.
Risk Engineering Manager
Senior Claims Specialist
Prequalification of Purchase Orders and other PO Risks
Along with the increase in stored material, we are seeing the marketplace procure these with the use of purchase orders (POs) versus trade subcontracts.
READ MORE
Two Worlds Collide – Enhancing Quality Through Safety Practices
The construction industry’s focus on safety over the last several decades has resulted in practices and procedures that are now commonplace.
READ MORE
Have a subcontractor in default? File a notice of potential claim online. This is not required and the existing form filing process will be accepted.
Headed to AGC's Surety Bonding & Construction Risk Management Conference in Bonita Springs, FL from Jan 30 - Feb 1, 2023? Let us know. We would be happy to connect!
Hudson is hosting our Annual Quality Peer Group being held in Phoenix, AZ in May 2023. We encourage our partners to contact their account manager if not already confirmed for participation.
Events & Reminders
Newsletter Article Hub
Senior Loss Control Risk Manager
Senior Loss Control Representative
Executive Underwriter
Prior Newsletters
July 2022 November 2022
In this Issue:
A Note from the Underwriting Desk
Prequalification of Purchase Orders & other PO Risks
Two Worlds Collide - Enhancing Quality Through Safety Practices
Events & Reminders
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