At some point, nearly every employer will have an employee report an injury and seek treatment under a workers compensation policy. Every US State has "industrial insurance" or workers compensation laws that define the benefits payable to the injured worker (NRS 616 in Nevada). The benefits afforded to an injured worker can vary from state to state. However, there is one critical concept to which every state agrees: to be covered by workers compensation insurance (or self-insurance) the employee injury or illness must arise out of and in the course and scope of employment.
To understand this concept further, let's examine the meaning of "arise out of and in the course and scope of employment". In simplistic terms this concept dictates that:
Using the "course and scope" rule we can examine each claim and determine if workers compensation coverage might apply:
Remember too that employers are protected by exclusive remedy laws. However, exclusive remedy does not preclude the injured employee from pursuing a claim against a third-party. For example, the electrical employee that fell from the ladder may pursue a defective product case against the ladder manufacturer. The employee that was injured by a slip and fall accident in a restaurant may pursue a premises liability claim. The errant driver on the site seeing excursion may have a valid auto liability claim against another driver. Lastly, the two employees that punched-out their differences may file lawsuits against each other for personal injury.
For more information contact Ryan Dye at: email@example.com
Congratulations to DC Building Group for receiving NAIOP Spotlight’s General Contracting Firm of the Year Award for 2017. The 20th Annual NAIOP Southern Nevada Chapter Spotlight Awards were held on the evening of Saturday, March 4th, 2017 at the Red Rock Casino, Resort & Spa. The guests attire for the evening was based on the Roaring 20s to celebrate the 20th Annual NAIOP Spotlight Awards.
The attendees waited in anticipation until nearly the end of the evening to hear who would be named the General Contracting Firm of the Year. Once the NAIOP Southern Nevada Chapter Spotlight Industry Award Nominees for General Contracting category were listed, the audience waited in suspense with only this prelude hint as the host read: “This firm continues to grow and impress due to their quality of work and level of professionalism.” Before hearing “and the General Contracting Firm of the Year goes to DC Building Group!” Team representatives who accepted the award on behalf of the entire DCBG team were: Shawn Danoski, Gary Siroky, Dave Teator, Charlie Stewart and Jennifer Hall.
Shawn Danoski, CEO of DC Building Group, said, “Winning the NAIOP Spotlight Award for General Contracting Firm of the Year really means a lot because of the timing. Receiving this accolade now from such a high-caliber peer group is a testament to our firm’s successful growth and direction. This award reflects our aim to increase our capacities and recognizes our team for their dedication and solidarity.”
DC Building Group also received multiple Spotlight Merit Awards from NAIOP for these projects: Goodwill Retail Store and Donation Center, Cracker Barrel – North Las Vegas, Guy Fieri’s El Burro Borracho in Rio Hotel and Casino, JS Products Corporate Offices and Distribution Center, M&Ms World Las Vegas Renovation at Showcase Mall, Southern Hills Baptist Church.
After months of a nationwide search, you finally identified the ideal property your client wants to invest in. The property satisfies your client’s wish list representative of the right location, cap rate, tenant, lease terms and the 10 other factors you have no control over.
Following weeks of grueling contract negotiations a purchase agreement for the out-of-state property has finally been executed and contingencies have all been met or waived. Now the only hurdle is wading through the unfamiliar out-of-state closing customs, real estate practices and statutory requirements that can make all the difference between a routine versus nightmarish closing experience.
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The past year has been remarkable for commercial real estate in Las Vegas. It has seen the noticeable recovery of a market that, less than a decade prior, politicians, industry experts, business owners and analysts believed might never bounce back.
It’s no secret that diversification is the key to growth and a strong economy. It opens doors to opportunities that spur more business. A number of East Coast retailers are starting to see the Las Vegas market as a viable business option, and the proof is in the pudding.
The first indicator of steady growth is that retailers are moving into the valley. There have been many this year, but a few big franchises include: Cracker Barrel, Amazon, Chick-fil-A and Dave & Buster’s.
The growth of the past two years also has affected the tourist and gaming corridor, with the construction of T-Mobile Arena, the potential NFL stadium and the new Park Theater at the Monte Carlo. What was once a 2-mile stretch focused on casinos and gambling is becoming an entertainment district.
The industrial market seems to have had a distinctive and continual effect on the industry, with developers constructing large industrial and warehouse facilities without necessarily having a tenant. That was not feasible even five years ago; it was just too risky.
The current boom is reminiscent of the golden age of real estate, from 2000 to 2004. While we may never again see the kind of heyday building of that time, the current dwindling industrial and retail space in the valley is a sign that we’re heading in the right direction. There’s more demand for space than space available.
The second half of this year has seen an increase in the need and desire for industrial properties. There seems to be significant activity completed and planned for commercial warehousing and industrial space. This industrial boom may be a result of the reinvigorated residential market. People making their home in Las Vegas equates to need for businesses to expand and diversify.
Still, there have been difficulties and setbacks with some projects. Investment in startup projects has been risky business in 2016, as we have seen with the recent suspensions of the Faraday and Alon projects. There also has been substantial lag in the construction process of the Resorts World project.
The coming year promises continued spec development and businesses trying their hand in the valley, including Del Taco, which previously had not committed to any new development since 2006. The chain is slated to bring multiple new stores to the valley.
With business diversification soaring here, the development and spec retail boom is sure to continue well into the next several years, and that’s good for all Nevadans.
Dave Teator is vice president of operations for DC Building Group.
There are too many painful stories about individual and corporate retirement funds facing severe funding deficits due to historically low interest rates on bonds. As a consequence, many fund managers have turned to commercial real estate investments as one of the few assets classes offering attractive risk-adjusted cash flow returns.
While these investments offer yields at a premium to Treasuries and a lower volatility than equities, they do require thoughtful due diligence prior to investment and careful monitoring throughout the investment life. Whether you invest yourself or with a fund manager specializing in commercial real estate, consider the following guidelines to protect your commercial real estate investments and to survive multiple economic cycles.
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Landlords and building owners commonly require tenants to name them as additional insured. The additional insured endorsement, along with the lease indemnity agreement, are designed to protect the building owner from liability claims that result from the tenant’s activities. In recent years, the additional insured endorsement commonly issued to landlords (ISO CG2011) has undergone several revisions. These revisions could limit the scope of coverage afforded to landlords and are important to understand.
The latest version of the ISO CG2011 was issued in 2013 and, as respects the landlord as an additional insured, reads as follows:
If coverage provided to the additional insured is required by a contract or agreement, the most we will pay on behalf of the additional insured is the amount of insurance:
Whichever is less.
The verbiage added in 2013 is underlined. A careful reading of this revised wording will reveal a few potential issues for landlords and building owners. Under the 2013 form, the landlord is afforded coverage no broader that what is required by contract (the lease). And, the limit of coverage available to the landlord is no more than what is required in the lease, even if the tenant carries higher limits.
We recommend several best practices to help building owners protect themselves from liability claims that occur on the property:
The 2013 revisions to the landlord additional insured endorsement only underscore the importance of carefully drafting lease documents, especially the indemnity clause and insurance requirements.
Link to CG2011 04/13