This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
How to Prepare for Unexpected Risk Exposure. Either by choice or required by contract or statute, commercial general liability (CGL), workers’ compensation, business auto and inland marine insurance (mobile equipment) are among the most common types of insurance purchased by contractors. Alex Headley. Mon, 09/20/2021 - 07:30.
Why Safety Matters: Fewer Accidents: Reducing workplace accidents protects your employees and minimizes costly downtime. Lower Insurance Costs: A strong safety record can lower your insurance premiums and improve your bottom line. Labor Peace and Stability.
How Dash Cams Help Your Construction Company Because Hazards for Construction Companies Aren’t Just on the Jobsite mhodges Tue, 10/01/2024 - 15:26 In a typical group of employees who drive company vehicles, 15 to 20 percent of them will represent 80 percent of the risk. In a recent J.
Having snow removal insurance is important, considering the risks and dangers of snow removal and deicing. This article will show you the things you need to know about snow removal insurance. . What Is Snow Removal Insurance? But snow removal insurance is different from commercial general liability insurance.
As a contractor, you likely know that your business is always at risk. Between the potential for accidents and injuries on the job site and the risk of lawsuits, it’s important to have insurance to protect yourself from financial losses, but what kind of insurance do you need? General Liability Insurance.
But first, it is important to understand that every case is unique, and you should always consult with a qualified construction accident injury attorney to get specific advice about your situation. Help with negotiations This can be difficult, as insurance companies are often reluctant to pay large settlements.
If you manage for risk, you also manage for compliance. However, if you manage for compliance, you may overlook risk and hazards that result in serious or fatal injuries. Thankfully, the groundwork to manage risk within GM and our joint process had been laid. Whether safety, business risk, insuredrisk, market risk, etc.,
As a contractor, you may have realized that taking care of every detail will not be enough as there are always going to be risks associated with your work. Whether it’s the risk of an unexpected accident or a project running over schedule and costing you money, there are many things that can go wrong.
Police and fire investigators have determined that the truck driver’s death was a workplace accident and not a crime. Examples like this are good reminders of the lessons to learn when investigating or handling an accident on a construction site. These include: Prepare before the accident. Manage the accident documents.
Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.
The contractor said, "There's been an accident; two of our workers are dead." Finally, his insurance broker would mobilize its claims, safety and risk management personnel to assist after these men prematurely lost their lives. He explained that a motorist had driven into the work zone, striking and killing two employees.
INSURANCE |. Green Construction & Construction Software » The Business of Construction Risk Management. With every project, no matter how big or small, there is always risk – risk of injury, financial responsibility, or quality assurance. This, after all, is the foundation of the insurance industry.
Insurance is perhaps the most important thing to arrange before starting a construction company. There are many different types of insurance in the United Kingdom. A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Business Plan. Legal Documents.
Accidents happen, especially in construction. General contractors know these risks when they take the role. Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? Who is covered by an insurance policy?
You probably saw last month’s report about a major accident at a construction site in downtown Miami, Florida. This is a good reminder of the lessons to learn when investigating or handling an accident on a construction site. These include: Prepare before the accident. Act diligently when an accident occurs.
Construction businesses need many different types of insurance to mitigate the risks associated with building projects. Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. What is builder’s riskinsurance?
Before starting a construction project , you should train workers operating in medium and high-risk areas on safety measures and standards. As an employer, you should stick to these guidelines as they keep your workers safe and insure you from hefty fines in natural accidents. For instance, the U.S.
Members include architects, risk managers, parking specialists, lawyers, and perimeter safety professionals. The main cause of these accidents are operator error, happening 20% of the time. The emergency response report is also useful in your insurance claim for timing and dates.
Whether you’re just starting your business or looking to change insurance carriers, it pays to go with a company that has experience and knowledge in providing insurance for the construction industry. These days you can purchase insurance on your own or go through a local agent. Best construction insurance companies.
" While the explosion in Kansas does not appear to have involved an accident at a construction site, early reports do indicate that the cause may have been a contractor performing underground work that struck a gas line. In any event, there are some lessons to learn when investigating or handling an accident on a construction site.
It ensures you meet health and safety standards that safeguard workers, protect the business’s reputation, are environmentally conscious, and minimize accidents. These can relate to your insurance, financial stability, safety records, etc. This process analyzes their performance, management process, resources, and capacity.
Plumbing contractors should include business insurance as an integral part of their financial strategy. With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. What is plumber’s insurance? Worker injury.
OSHA’s new, misguided requirement for detailed electronic reporting of injury and illness data by employers has come under legal challenge by a coalition of trade associations, employers and an insurance company. OSHA contends that such programs may encourage the under-reporting of illnesses and injuries.
Mistakes and accidents happen, and some of those issues can be extremely expensive. In most cases, that’s what insurance is for, and the contractor will typically initiate a claim against their policy to take care of it. But who can actually file a claim against the contractor’s insurance? Let’s take a look. State requirements.
Scenarios like these stress the need for an electrician to have insurance coverage in place. Thus, a strong insurance plan helps you rest easier both on and off the job. Why can an electrical contractor use insurance? Not all accidents that happen on jobs are large-scale and catastrophic.
Here are some tips for creating that kind of world-class safety program: Companies should start the process by identifying the areas of greatest risk in their workplaces. Task-based risk assessments are a great tool for this process.). Accident Prevention FDRsafety newsletter Training' Contact us for more information.
Your base insurance policy may offer some coverage for unexpected damage to some business property, but making assumptions about the extent of coverage could lead to some financial distress. . An equipment floater offers insurance protection for your business property as it moves from location to location. What is an equipment floater?
Police and fire investigators have determined that the truck driver''s death was a workplace accident and not a crime. Examples like this are good reminders of the lessons to learn when investigating or handling an accident on a construction site. These include: Prepare before the accident. Organize post-accident activities.
When working in construction, your insurance policy gets issued as a fairly standard contract. At the core, you have property coverage for your tools and equipment, along with a liability component that protects your financial assets in case there’s a work-related accident or injury that you may have some responsibility for. .
An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. While it may sound unusual, adding additional insureds is common and extends benefits both to you as a policyholder – and the party being named on the policy.
IS YOUR BUSINESS EFFECTIVELY PRIORITIZING CONSTRUCTION RISK MANAGEMENT? Truth be told, every industry involves risk. Whether the project involves a multi-million-dollar office building or a three-story apartment complex, there are several risks that need to be considered in order to ensure the success of any construction project.
How Well Does Your Business Prioritize Construction Risk Management? Truth be told, every industry involves risk. Whether the project involves a multi-million-dollar office building or a three-story apartment complex, there are several risks that need to be considered in order to ensure the success of any construction project.
There are multiple types of insurance coverage for the various risks on a construction project. However, when there are multiple insurance carriers covering the same risk (i.e., However, when there are multiple insurance carriers covering the same risk (i.e., In a recent case, Cincinnati Insurance Co.
Despite the positive trend, the organization cautioned that too many Ontarians — especially electrical workers —are dying from electrical accidents. ESA uses the incident data in the OESR to identify those areas that present the greatest risk to Ontarians, to track changes in incident data, and to identify emerging trends.
To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.
Information of Construction Risk Management. Construction risk management is a long steep process, in which we have to calculate the all-possible risk and determine the process by which we can reduce this type of risk. Where we identify, analyze the risks and work over them. What Is Construction Risk Management ?
In that case, the responsibility of dealing with workplace accidents or unsafe job sites will fall upon them, causing legal issues. Those who do not comply pose a high risk of impacting the hiring client’s project. You must upload 3 years of OSHA logs, Insurance (COI & EMR), and Safety programs (RAVS®).
Disputes over insurance agreements can be, for example, one of those reasons. One of the project parties may feel that it’s entitled to some compensation while the insurance company, or whoever is responsible for that may have a different opinion. The reasons for a contract dispute may vary each time. Unforeseen Reasons. Strike Action.
Risk Manager and Safety Officer. And ultimately, safety should be a priority for our clients as well, since an accident on the job site can have significant consequences for a construction timeline and budget.
OSHA tracks this information with the goal of preventing accidents in the future. For example, accidentally reporting an injury that did not occur on the jobsite or reporting a cut or scrape that isn’t a recordable accident could have dire consequences. No accidents means no OSHA recordables on the 300A Form. Recordable or Not?
Increasing safety and quality As construction activities across APAC intensify to meet the demands of governments looking to boost economies, there is a risk of overlooking safety and quality protocols, which can have dire consequences.
Heating, ventilation, and air conditioning (HVAC) contractors must protect their business property while reducing the odds that a job-related accident or injury could financially harm their business. HVAC contractor insurance is the primary way to help protect your financial interest if things go wrong on the job.
Since data quality and sufficiency are under assault by the motor carrier industry, DOT has responded with studies of the accuracy of the thousands of police accident reports that underpin the Crash measurement, as well as establishing Task Force reviews to examine how CSA can be improved.
ISNetworld helps companies like Coke Florida manage contractor safety, insurance, and regulatory information. Benefits of Compliance Improved Safety: Compliance ensures that all safety protocols are followed, reducing the risk of accidents and injuries. Your company’s agent or broker can assist with this process.
We organize all of the trending information in your field so you don't have to. Join 116,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content