236116

New Multifamily Housing Construction (except For-Sale Builders)

Cyber Liability Insurance for NAICS 236116

CYB

Ranked reasons a business in NAICS 236116, New Multifamily Housing Construction (except For-Sale Builders), needs Cyber Liability coverage. Each reason is specific to how this industry actually loses money, and ends with the question to ask before the objection comes up.

  1. 01

    Payment applications and draws move very large sums.

    • Monthly pay applications move hundreds of thousands to subcontractors and suppliers.
    • Banking instructions arrive by email and are changed the same way.
    • One diverted payment must be funded twice to keep the job moving.
    ASK
    How are changes to subcontractor banking details verified before payment?
  2. 02

    The schedule carries liquidated damages by the day.

    • Completion dates are contractual with damages assessed for each day late.
    • Trade sequencing and inspections are managed in project software.
    • Days lost to a systems failure are charged against you.
    ASK
    What are the liquidated damages per day on your current projects?
  3. 03

    Plans and models drive fabrication and installation.

    • Drawings, models, and shop drawings are issued electronically to every trade.
    • Work built to a superseded revision has to be torn out.
    • Rework on a structure is measured in weeks.
    ASK
    How are drawing revisions controlled and issued to your trades?

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