Joseph Darr As contractors work through the coronavirus (COVID-19) pandemic, many contractors have been impacted in their ability to timely and efficiently complete projects. COVID-19 impacts to a project may result in increased completion costs, including labor inefficiencies, increased equipment costs, and additional material costs. A contractor may attempt to seek those increased costs from the project owner, a subcontractor, or an insurer. Regardless of who may be responsible for.
National and local governmental responses to COVID-19 have taken a dramatic financial toll on the economy. As a result, many in the construction industry are asking: “can I seek compensation for delays caused by COVID-19?” Contractually, it depends upon the language of your contract; however, construction companies should also be looking to common insurance policies as a potential source of recovery for lost business income and delay damages, such as.