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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. Professional Liability Insurance. Pollution Liability Insurance.
By Scott Turner A state supreme court has ruled that a general liability policy’s contractual liability coverage did not cover the bodily injuryclaim of a general partner of the contractor policyholder because he was not a “third party” as required in the policy for that coverage.
When it comes to protecting your contracting business from claims and lawsuits, it can be tough to know what type of insurance you should purchase. Liability insurance protects your business against claims for damages caused by you and your workers, if you have any. General liability insurance.
“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. General liability insurance. What happens when a subcontractor is uninsured?
Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.
Those lawsuits primarily assert that the extraction, production, sale, and promotion of fossil fuels constitute a public nuisance and give rise to product liability under state common law and state consumer protection statutes; the plaintiffs are seeking relief largely in the form of compensatory and punitive damages.
Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. Builder’s Risk Insurance General Liability Insurance Coverage Covers a building under construction—and often tools, equipment, and materials related to the project.
WILG president talks workplace injuries. Boyd, president of the Workers Injury Law and Advocacy Group. What is the Workers Injury Law and Advocacy Group? The Workers’ Injury Law and Advocacy Group (www.wilg.org) has grown into an important, national voice for workers.
From safety hazards to contractual disputes, the industry faces numerous liability issues that can lead to costly legal battles, project delays, and financial losses. In this article, we’ll explore some of the most common construction liability issues and provide strategies to address them effectively.
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? Can the property owner file a claim, or does the contractor need to submit it? Contractor liability for property damage.
Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Like the Quick Ratio, Current Ratio measures a company’s ability to pay off its short-term liabilities with its current assets. Formula: Current Assets / Liabilities . Formula: Total Liabilities / Total Assets .
Last week marked the end of Construction Safety Week 2018 , a combined effort by the Construction Industry Safety (CISI) group and the Incident and Injury Free (IIF) CEO Forum. Safe projects are more likely to be profitable projects due to lack of delays and prevention of claims for jobsite injuries.
I previously blogged about the rules relating to pass-through claims , where a prime contractor’s recovery from an owner for damages suffered by its subcontractor is limited in certain circumstances. KBR submits a certified claim with the Army for $10.4 In Kellogg Brown & Root Servs., million; and. million; and.
Third-party insurance , also known as liability or casualty insurance, protects insured individuals or businesses in situations where they may be liable for damages to another person or business — the third party. The roofer’s general liability insurance covers claims related to injuries related to the customer’s fall.
Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.
You can practice safety and use common sense on the job, but there’s no way to predict when accidents or injuries might occur. Carpenter’s insurance is a financial instrument that helps protect your business if accidents, injuries, or illnesses occur in a work-related capacity. What is carpenter insurance?
By Bruce Jervis Commercial general liability (CGL) insurance policies have been the source of much controversy in the construction industry. The policies insure against personal injury or property damage caused by an occurrence during the contractor’s performance of the work. But do the policies cover the work itself?
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. Unlimited liability for designers and contractors. Copyright Notice. Disclaimer.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. Limitation of Liability in new AIA Document. Copyright Notice. Disclaimer. Here it is: § 8.1.3
Common Types of Construction Insurance General Liability Insurance (CGL) Commercial General Liability (CGL) insurance is essential for both general and trade contractors. It covers bodily injury, property damage, and personal injuryclaims that arise during the course of a project.
Plumbing contractor’s insurance may help your business stay afloat if accidents or injuries occur on the job. A plumbing contractor’s insurance policy covers claims for property damage, but it may also help defend against lawsuits resulting from a work-related incident. Worker injury. Liability for damage.
Some parties — like owners and GCs — will want some assurances that any not-at-fault, job-related accidents or injuries will not cause them financial harm. Aside from owners and GCs, a government entity may want to see proof of liability insurance. There are a few parties that might require a COI from your contracting business.
If a sub accidentally drops a steel beam on the project manager’s new sports car, that subcontractor’s liability insurance policy would likely cover the damage. However, the types of policies and their limits (the maximum amount claims can pay out) are limited. General liability insurance. Subcontractor default insurance.
With so many policies on a project, there’s a good chance that coverage is overlapped, and a claim could cause insurers to battle with each other over who’s at fault. An Owner-Controlled Insurance Program (OCIP) is a wrap policy held by the property or project owner that provides comprehensive liability coverage on a project.
It is sold as an extension to your general liability insurance policy and may be required by the state you work in or the project owner. Completed operations insurance covers property damage or injury caused by work that a contractor performed in the past. Completed operations covers liability from work that is already completed (i.e.,
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. Economic Loss Doctrine bars Nevada claims against Architect. Copyright Notice. Disclaimer.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. False Claims lands Engineer in jail. Unlimited liability for designers and contractors.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. Federal Court dismisses subs claim against GC because of arbitration provision. Disclaimer.
They offer a full range of business insurance policies, including general liability, commercial auto, workers’ compensation, and umbrella. They provide general liability, property, subcontractor, and cyber protection. Next does not offer specialty coverage, like builders’ risk or pollution liability. Find an agent. Nationwide.
The basis for the first holding is that disgorgement is both a liability created by statute and a penalty, and therefore falls under Code of Civil Procedure Section 340(a), a one year statute of limitations.
In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. The policyholder will also have certain duties to perform if an insurance claim is incurred and reported. Though not common, large and complex claims do occur.
The contractor should carry, and the contract should reflect that the contractor has liability insurance covering personal injury of at least $50K and property damage coverage in the same amount. Failure to comply with these requirements could lead the contractor to liability under home improvement fraud.
Lawmakers are considering a change to New York Labor Law 240, The ‘Scaffold Law’, that would require juries to consider the actions of workers in weighing injury lawsuits. Opponents believe New York’s scaffolding law is too rigid, claiming the law awards negligent and even drunk construction workers.
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. The contract may ask that each sub carry a liability amount of $2 million, for example. Insurance Policies HVAC contractors need.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. Unlimited liability for designers and contractors. Copyright Notice. Disclaimer. 541.300(a).
As a result, the home builder could be considered a joint employer, potentially making them liable for employment law violations by a trade partner or for negligence or an injury caused by a subcontractor’s employees. Failing to handle absence requests properly could expose employers to liability under those laws. .
The basis for the first holding is that disgorgement is both a liability created by statute and a penalty, and therefore falls under Code of Civil Procedure Section 340(a), a one year statute of limitations.
Who is liable for injuries to the sub’s employees in such cases? He couldn’t sue A&M due to the Workers’ Compensation Law’s exclusivity provision, but he could and did sue the GC and the owner, claiming that they owed him a duty to maintain a safe working environment. The recent case of Grady v.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. The expert then filed a cross claim for equitable contribution against the law firm that hired him.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. apply to any claim that is directed to arbitration by the court. Copyright Notice.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. « Economic Loss Doctrine bars Nevada claims against Architect | Main. | » April 20, 2009.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. False Claims lands Engineer in jail » June 22, 2007. Copyright Notice. Disclaimer.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. « Liability for green design | Main. Copyright Notice. Disclaimer.
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. Economic Loss Doctrine bars Nevada claims against Architect » April 17, 2009.
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