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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.
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.
” You may already have an insurance policy that offers coverage for business property and general liability. An installation floater is a form of insurance coverage that protects the value of building materials that will become a permanent part of a commercial or residential structure. Who needs installation floater insurance?
Subcontractor Forms for Construction : Subcontract and Contractor Contract, Independent Sub Statement, License Verification, Potential Back charge, Potential Back charge Log, Back charge and Back charge Log, Non-conform Work Notice, Nonconforming Work Log, Credit Application, Credit Information Request, Subcontractor List, Supplier List.
Falls, alone, account for up to 70% of construction-related injuries and deaths, according to Dr. Dong Zhao of Michigan State University, who has been analyzing BLS data to determine why construction accidents keep happening and to discover or refine preventive measures. Falls are the most common jobsite accidents.
Subcontracting to someone with scant experience but who “talks a good game” likely won’t cut it. ” Accidents will occasionally happen even on a competent subcontractor’s watch. But insurance doesn’t prevent a successful lawsuit; it simply pays any damages awarded (above the deductible).
Prior to initiate the aptitude method, the general contractor should have to establish the size of the scope that is subcontracted out as well as the resources required to execute this work. It is vital to have clear idea on this part before implementation so as to get the proper bonding and insurance coverage for you and your subcontractor.
From financial difficulties to fatal accidents, construction risk management is integral in order to secure a company’s survival and eventual growth. For example, if your staff doesn’t do plumbing, subcontract and find professionals who can. This includes taking out insurance on the project. WHAT’S YOUR PLAN?
From financial difficulties to fatal accidents, risk management is integral in order to secure a company’s survival and eventual growth. . For example, if your staff doesn’t do plumbing, subcontract and find professionals who can. . This includes taking out insurance on the project. Makes ROI sound simple, doesn't it?
Freyssinet’s $30-million subcontract entails building the tunnel in an open trench. Unevenly backfilling such tunnels can introduce unsymmetrical loads on the three-pin arches, which could lead to an accident like the one that felled a TechSpan tunnel in Gerards Cross, England, six years ago (ENR 7/11/05 p. Blogs: Other Voices.
The exceptions are for financial institutions, financial institution groups, and insurance companies that have a maximum business privilege tax of $3,000,000. This credit can also be claimed against the insurance premium tax, the oil and gas production and property taxes, the fisheries business and landing taxes, and the mining license tax.
CORPORATE BUSINESS TAX EXEMPTIONS: Available for: All insurance companies, Connecticut incorporated and non-Connecticut incorporated. Corporate income, insurance premium and sales and use taxes for certain banks, insurers and investment companies locating in the Hartford Financial Service Export Zone that conduct all business with non-U.S.
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