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Understanding the Essential Insurance Requirements for Construction Projects

Building Radar

Common Types of Construction Insurance General Liability Insurance (CGL) Commercial General Liability (CGL) insurance is essential for both general and trade contractors. Excess Liability Insurance Excess liability insurance extends the limits of a CGL policy, offering additional protection.

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First-Party vs. Third-Party Insurance: What’s the Difference?

Levelset

First-party insurance provides compensation directly to the insured individual or business, whereas third-party insurance provides reimbursement to another party when the insured person or business is liable for damages. First-party insurance provides compensation directly to the insured individual or business.

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Carpenter’s Insurance: Who Needs It & Why

Levelset

There are many policies that apply to a carpenter, but a simple business owner’s policy can include property damage and liability coverage. If a third party gets injured on a job, liability coverage helps pay the cost of legal defense if you get sued for the accident. . Does a carpenter need insurance?

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Collaborative Construction Solution

Job Order Contracting

Furthermore, compensation is performance-based and depended upon the final outcome. A fee-based contract can also present a conflict of interest if one or more “consultants” are involved. The excessive use of consultants has also proven to be an issue and has been noted in publicly available independent audits.

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Construction Business Owner Blogs

Construction Business Owner

David is a construction safety expert for Carolina Safety Consultants with over 20 years of experience. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. “A safe work environment is one of the most straight forward ways to decrease workers compensation expenses.”

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WILG president talks workplace injuries

Safety Services Company

This article was written by Safety Consultants with Safety Services Company , we provide Construction, Manufacturing, and General Industry Safety Programs to over 100,000 clients across the United States and Canada. We provide up to date information on how worker’s compensation programs operate in other states.

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Oregon Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

Collateral to secure the loan or personal guarantees of major owners. Qualifying businesses may receive a credit against the business’ annual state income or corporate excise tax liability. Participating employers are compensated through a reduced federal income tax liability. . Potential for rapid growth in sales.

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