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Associated Press
a day ago
- Business
- Associated Press
How Permit Expeditors and Code Consulting Support Safer Construction During Construction Safety Week
06/06/2025, Chicago, IL // KISS PR Brand Story PressWire // Recognizing Construction Safety Week: Prioritizing Risk Prevention in Every Phase Another successful Construction Safety Week began on May 5th, and Burnham Nationwide was proud to support safer building practices through expert permit expediting and code consulting. In busy cities like Los Angeles, where rules are often updated and hard to follow, reducing risk starts early—with good planning, the right permits, and code compliance. Addressing the Complexity of Permit Expediting in LA Construction projects in LA can be challenging because of strict and often confusing rules. That's why Burnham Nationwide's permit expediting team helps guide projects through the process to avoid delays and stay on track. Common permits include new construction, renovations, tenant improvements, and public way permits. Some cases—like doors that open into sidewalks—need special approvals. These details show how complex urban building rules can be. Burnham's approach helps teams follow safety rules and meet city requirements before work even starts, leading to safer job sites and fewer problems later on. Importance of Thorough Due Diligence in Permitting Conducting rigorous due diligence during the permitting process significantly reduces project risk—a core principle emphasized during Construction Safety Week. By understanding regulatory requirements upfront, stakeholders can prevent costly compliance errors, budget overruns, and project delays. Effective due diligence involves a proactive approach to identify and address code compliance issues early, ensuring seamless progression from the planning stages through completion. A Burnham representative states, 'Thorough due diligence in permitting is crucial. It helps our clients anticipate challenges and navigate regulatory complexities efficiently, ultimately saving valuable time and resources.' Door Swing Permits: A Critical and Often Overlooked Urban Requirement One specific regulatory detail - door swings into public ways - represents the detailed focus required in urban construction permitting. Classified under 'grant of privilege,' these permits are meant to protect people walking by and keep sidewalks clear and safe. Burnham Nationwide's permit expeditors have strong experience getting these special permits, helping businesses avoid costly mistakes and stay fully compliant. Paying attention to small but important details like these supports both public safety and the goals of Construction Safety Week. Expert Code Consulting: Ensuring Complete Compliance for Safer Sites Burnham Nationwide's experienced code consulting team plays a key role in helping projects stay fully compliant with local rules from start to finish. Their code consultants understand LA's building codes, updates, and safety standards, and they use that knowledge to guide clients through the process. This expert support helps teams avoid common mistakes and keeps construction in line with all city rules, which lowers the risk of safety issues or code violations. Value of Professional Guidance in Permit Management Working with expert permit expeditors and code consultants at Burnham Nationwide brings major benefits. Their team helps simplify the permitting process, speed up approvals, and solve problems before they cause delays. They handle complex paperwork, work closely with local departments, and use their deep experience to keep projects moving forward. This kind of proactive support gives businesses peace of mind and helps projects run safely and smoothly—perfectly matching the goals of Construction Safety Week. Trust Burnham Nationwide to Navigate LA's Permitting Complexities Burnham Nationwide specializes in handling the complicated permitting and code compliance rules in LA's regulatory landscape. Our approach combines meticulous due diligence, expert knowledge, and a strategic understanding of local permitting processes. By partnering with Burnham Nationwide, businesses mitigate risks, save time, and ensure projects comply fully with all city regulations, achieving timely, compliant, and safer project completions. About Burnham Nationwide Burnham Nationwide works in over 3,000 municipalities across the United States and has a diverse client base from Fortune 200 companies to specialized architectural and development firms. Burnham offers a systematic, professional approach that streamlines and navigates the complex planning, submission, and approval process with Building Departments and Authorities Having Jurisdiction (AHJs) so you don't have to. With over 30 years of experience in the construction industry, Burnham is the trusted expediter for established firms that expect consistent and dependable execution for every project. Burnham obtains upwards of nearly 10,000 permits and licenses annually. The tenure of the staff, their genuine passion for safety and precision with a commitment for timely delivery, set them apart from the competition; encapsulated in their credo of 'Simply Getting It Done.' ### Media Contact: Burnham Nationwide, Inc. 515 S Figueroa St Suite 1275, Los Angeles, CA 90071 Phone: (213) 233 2133 newsroom: Source published by Submit Press Release >> How Permit Expeditors and Code Consulting Support Safer Construction During Construction Safety Week
Web Release
25-04-2025
- Business
- Web Release
Protection gaps expected to worsen across all lines of insurance business through 2030, finds Bain & Company
By Editor_wr On Apr 25, 2025 Protection gaps are expected to worsen across all lines of the insurance business through 2030 as insurers worldwide contend with rate-driven growth that is unsustainable, according to new research released today by Bain & Company. Bain's report, Bridging the Protection Gap: A?ordability, Access, and Risk Prevention, shows the challenges facing the insurance industry in matching price-to-risk pro?tably. This is in part due to changing risks such as the rise in natural disasters and cyberattacks, una?ordable property premiums, and the declining relevance of life insurance— especially among younger generations. Only one-quarter to one-third of the damage from natural disasters will be covered by insurance by 2030; for mortality, it could be less than half, Bain found. 'Bolstered by unsustainable tailwinds, insurance companies ?nd themselves at an in?ection point,' said Sean O'Neill, head of Bain's global Insurance practice. 'Over the past couple of years, we've seen rate increases in the property and casualty sector and interest-rate–driven annuity sales in the life sector. While capital and balance sheets remain reasonably strong, several challenges have emerged, and pro?tability has come under pressure for many lines of the insurance business. Insurers will need to be proactive and act now if they wish to navigate these impacts.' Investors are skeptical about US insurers' prospects for future growth but are more bullish on life insurers in emerging markets, Bain's report shows. Valuations of US life players include negative 'white space' from long-term earnings growth, suggesting either declining pro?tability or hidden losses yet to emerge from today's in-force blocks. P&C insurers face the same problem, albeit on a smaller scale, due to concerns around the sustainability of recent price increases alongside potentially increasing claims. Threat of emerging cyber risks spur demand for coverage Another challenge facing insurers worldwide is the threat of rapidly increasing cyber risks in a much more digitally enabled and data-rich world. Costs from global ransomware damage are expected to climb to more than $250 billion within the next six years, and actions by individual carriers will not be su?cient to address future risks, Bain warns. 'Throughout the insurance sector, risk prevention is an increasingly critical component of strategy,' said Andrew Schwedel, partner in Bain's Insurance practice. 'Risks for catastrophic cyber events will need to be shared, and public-private partnerships will need to expand to promote prevention. Risk-sharing will also likely require additional capacity from excess and surplus carriers, reinsurers, and alternative capital providers.' Despite several challenges, insurers are also facing a rich set of opportunities, including recent technology advancements. The rapid proliferation of unstructured data and the rise of AI are reshaping the industry landscape, Bain found. Harnessing data presents insurers with a unique opportunity to enhance a?ordability and access. Bain anticipates that AI-driven industry improvements will allow insurers to realize a 10%– 15% revenue uplift, up to 30% operating expense savings, and a 30%–50% reduction in P&C leakage (losses due to errors, ine?ciencies, or fraud in claims handling). Other topics covered in the report include how the growth of the climate solutions market is expected to impact insurance risk models, why the rise of electric and autonomous vehicles will transform the dynamics of risk and liability, and how to deal with the growing retirement income gap. Prev Post Dine, Indulge, Gift – The QE2 Way Comments are closed.
Associated Press
31-03-2025
- Business
- Associated Press
Protection gaps expected to worsen across all lines of insurance business through 2030, finds Bain & Company
Uncertainty around long-term earnings sustainability, emerging risks, and affordability / access present new challenges for insurers AI-driven industry improvements could allow revenue growth of 10-15%, operating expense savings of up to 30%, and reductions in P&C claims leakage of 30-50% BOSTON, March 31, 2025 /PRNewswire/ -- Protection gaps are expected to worsen across all lines of the insurance business through 2030 as insurers worldwide contend with rate-driven growth that is unsustainable, according to new research released today by Bain & Company. Bain's report, Bridging the Protection Gap: Affordability, Access, and Risk Prevention, shows the challenges facing the insurance industry in matching price-to-risk profitably. This is in part due to changing risks such as the rise in natural disasters and cyberattacks, unaffordable property premiums, and the declining relevance of life insurance— especially among younger generations. Only one-quarter to one-third of the damage from natural disasters will be covered by insurance by 2030; for mortality, it could be less than half, Bain found. 'Bolstered by unsustainable tailwinds, insurance companies find themselves at an inflection point,' said Sean O'Neill, head of Bain's global Insurance practice. 'Over the past couple of years, we've seen rate increases in the property and casualty sector and interest-rate–driven annuity sales in the life sector. While capital and balance sheets remain reasonably strong, several challenges have emerged, and profitability has come under pressure for many lines of the insurance business. Insurers will need to be proactive and act now if they wish to navigate these impacts.' Investors are skeptical of many insurers' future earnings growth potential Investors are skeptical about US insurers' prospects for future growth but are more bullish on life insurers in emerging markets, Bain's report shows. Valuations of US life players include negative 'white space' from long-term earnings growth, suggesting either declining profitability or hidden losses yet to emerge from today's in-force blocks. P&C insurers face the same problem, albeit on a smaller scale, due to concerns around the sustainability of recent price increases alongside potentially increasing claims. Threat of emerging cyber risks spur demand for coverage Another challenge facing insurers worldwide is the threat of rapidly increasing cyber risks in a much more digitally enabled and data-rich world. Costs from global ransomware damage are expected to climb to more than $250 billion within the next six years, and actions by individual carriers will not be sufficient to address future risks, Bain warns. 'Throughout the insurance sector, risk prevention is an increasingly critical component of strategy,' said Andrew Schwedel, partner in Bain's Insurance practice. 'Risks for catastrophic cyber events will need to be shared, and public-private partnerships will need to expand to promote prevention. Risk-sharing will also likely require additional capacity from excess and surplus carriers, reinsurers, and alternative capital providers.' Rise of AI, rapid proliferation of unstructured data reshaping insurance landscape Despite several challenges, insurers are also facing a rich set of opportunities, including recent technology advancements. The rapid proliferation of unstructured data and the rise of AI are reshaping the industry landscape, Bain found. Harnessing data presents insurers with a unique opportunity to enhance affordability and access. Bain anticipates that AI-driven industry improvements will allow insurers to realize a 10%–15% revenue uplift, up to 30% operating expense savings, and a 30%–50% reduction in P&C leakage (losses due to errors, inefficiencies, or fraud in claims handling). Other topics covered in the report include how the growth of the climate solutions market is expected to impact insurance risk models, why the rise of electric and autonomous vehicles will transform the dynamics of risk and liability, and how to deal with the growing retirement income gap. Media contacts To arrange an interview or for any questions, please contact: Dan Pinkney (Boston) — Email: [email protected] Gary Duncan (London) — Email: [email protected] Ann Lee (Singapore) — Email: [email protected] About Bain & Company Bain & Company is a global consultancy that helps the world's most ambitious change makers define the future. Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today's urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.
