Beacon News

I hope this message finds you well and that things are beginning to feel more normal in your area. As the first half of 2020 comes to a close, we are living in a much different world compared to just 4 months ago. The Covid-19 pandemic has forced us to drastically change how we live and work. In the construction industry, we saw many job sites close down for weeks or months starting in early March, with reopenings varying on a state by state basis.

As we enter the summer, many states have already given the green light for construction projects to restart. In some areas, construction never stopped (unless a project was directly affected by on-site personnel catching the virus). However, the pandemic continues to have a major impact on the industry, including longer-than-normal delays in material deliveries, much different on-site safety protocols, permitting delays, scheduling challenges, and staffing shortages. These factors (along with mandated project shutdowns) have caused many projects to fall far behind their original schedules. For some contractors who were already in distress, the added financial pressure of the pandemic was a knockout punch, resulting in project defaults.

Beacon's team has continued to work hard to serve our clients in recent months. Thanks to our extensive Surety Consulting experience, we are uniquely positioned to help resolve some of the problems which Covid-19 is causing for construction projects. Whether its helping to determine a clear plan to get a distressed project back on track, reviewing on-site safety protocols for Covid-19 (reducing risk & ensuring that best practices are followed), or providing project management / monitoring services, we have the right team and the decades of experience needed to help our clients to continue achieving their goals during this challenging period. Please contact us if we can help in any way.

Dennis O'Neill