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
Workers’ compensation insurance pays for occupational injury and illness; that’s why you buy the insurance. What many contractors fail to grasp, however, is that some significant indirect costs are not covered by insurance. Oftentimes, it is an employer’s single most expensive line of coverage.
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? Workers’ Compensation Insurance.
Snow removal insurance can offer a wide variety of policies to protect contractors and their businesses. Because of their nature of work, snow removal contractors are usually exposed to many risks, which may include anything from third-party injuries to equipment. Worker’s Compensation. What Is Snow Removal Insurance?
Fortunately, crane and rigging insurance provide protection and compensation. Unfortunately, some contractors assume they have enough coverage for their construction jobs. Physical damage – This policy compensates for the value of a physically damaged crane. What is crane and rigging insurance?
Lower Workers' Compensation Costs by Having a Plan. Having comprehensive plans in place are the most impactful way to mitigate workers’ compensation costs, says the National Association of Home Builders. cbroderick. Tue, 11/17/2020 - 09:55. When that happens, there should be another plan in place.
In the construction industry, safety is paramount, given the inherent risks that can lead to serious injuries and fatalities. Contractors and hiring clients alike prioritize safety leadership , seeking partners who excel in safety and compliance, surpassing basic OSHA standards.
Plumbing contractors are the professionals that are trained to assemble, install and repair water pipes. While hiring a plumbing contractor can help in salvaging your home from a water crisis, it can also worsen a situation. Here is a list of tips that can guide you in hiring a reputable plumbing contractor to work on your property.
Construction is one of the most hazardous industries, with injuries occurring almost every year. Who’s Liable For Falling Debris Injuries? Regardless of the type of injury in the workplace, whether due to falling debris or poor safety practices, someone is always liable. What Are The Common Types Of Falling Debris?
Naturally, many contractors (like you!) Let’s get some clarity on some of this year’s FAQs about Contractor Management platforms and how you can conquer each quarter! Let’s get some clarity on some of this year’s FAQs about Contractor Management platforms and how you can conquer each quarter!
Contractors performing work in California are required to be licensed by the California State License Board (“CSLB”). Except for sole proprietors, contractors are typically licensed through “qualifiers,” i.e., officers or employees who take a licensing exam and meet other requirements to become licensed on behalf of the contractor’s company.
7 Tips for Building a Strong Contractor Safety Program. 7 Tips for Building a Strong Contractor Safety Program. Court decisions have made it increasingly clear that employers share responsibility for the actions of contractors when it comes to safety on a worksite, but making sure that contractors follow through can be challenging.
A Sheffield based network infrastructure contractor has been fined £550,000 after an employee fell from a stepladder and was impaled on metal piping. The company was also ordered to pay the deceased’s family £200,000 in compensation. This piping pierced his side causing internal injuries and he was pronounced dead at the scene.
In Pennsylvania, contractors working on residential projects need to be aware of the Pennsylvania Home Improvement Consumer Protection Act. The Act establishes a registration program for home improvement contractors, along with required contract provisions, minimum insurance coverage, and more. Project details.
Contractors performing work in California are required to be licensed by the California State License Board (“CSLB”). Except for sole proprietors, contractors are typically licensed through “qualifiers,” i.e., officers or employees who take a licensing exam and meet other requirements to become licensed on behalf of the contractor’s company.
If a worker slips off the edge of a roof or wall, those nails or screws won’t keep them from falling all of the way to the ground, causing injury or even death. 1 cause of injury and death on construction jobsites. 1 cause of injury and death on construction jobsites. 1 cause of injury and death on construction jobsites.
Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. Covers contractors against accidents, property damage, and in some cases, libel. Typically, builder’s risk insurance is purchased by general contractors. What is builder’s risk insurance?
Over my legal career, I have handled a significant amount of workers' compensation disputes, representing injured employees, defending employers and insurance carriers, and even a few years working for an appellate judge that addressed workers' compensation appeals. The National Council on Compensation Insurance, Inc.
Traditional methods of acquiring materials have also been hampered by the COVID-19 pandemic, causing contractors to explore 3D printing as an alternative. Over time, this leads to injuries, time off work, and workers’ compensation claims. The trend is especially proliferating as the demand for affordable housing rises.
Per OSHA’s regulation 29 CFR 1904, employers with more than 10 employees are required to keep a record of serious work-related injuries and illnesses. 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. What is TRIR?
Insurance companies use the number to assess the cost of injuries and future risks. Lowering your EMR is important, as you can greatly reduce the amount you pay for workers’ compensation coverage. Your company has filed one or more workers’ compensation claims. Across the board, the industry average for EMRs stands at 1.0.
Subcontractor business liability insurance should be retained since a catastrophic claim could bankrupt most all painting contractors. Are subcontractors covered under the general contractor’s insurance? When a subcontractor is uninsured, the business can still be liable for any property damage or injury to others.
Julian Construction Warns Public: Check Credentials Of Contractor » 12/07/2011. Hiring a Contractor. While some homeowners prefer to do the work themselves, many construction and remodeling jobs will require hiring either a general building contractor or specialized contractor.
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. Why plumbing contractors need insurance. Worker injury.
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 COI provides evidence of in-force specialty contractor’s insurance. When do I need to provide a COI?
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.
In the State of New York, contractors working on certain residential projects need to have a good understanding of the NY Home Improvement Contracts Act. Here’s what NY residential contractors must include (and what can’t be included) in a New York home improvement contract.
Evaluating a subcontractor’s health before awarding work has become more important than ever for general contractors. EMR is a value calculated by insurance carriers and is an indication of Worker’s Compensation claims history. For one thing, circumstances can change quickly in today’s uncertain construction industry.
New Contractor's Levels of Stress. You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email sharie@fasteasyaccounting.com.
Contractor Magazine. Plumbing Contractor. Piping Contractor. ” The award program is sponsored by the National Council on Compensation Insurance and spotlights organizations for their outstanding approach to workers’ compensation risk mitigation. Skip to Navigation Skip to Content. Username or e-mail: *.
Your EMR is the number insurance carriers look at when determining what you’ll pay for a Workers’ Compensation premium. It reflects your company’s past injury and illness incidents and lets the insurance carrier calculate future risk. The cost of your Workers’ Compensation premium is the most obvious answer.
Consider these elements of a training and awareness program to save lives, mitigate injuries, and reduce liability and costs . Last year, members of Associated Builders and Contractors , a national trade association representing the nonunion construction industry, invested $1.6 John Caulfield, senior contributing editor.
Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. For instance, a plumber who fails to properly lay a pipe could cause water damage that leads to an expensive repair for the general contractor. What is professional liability insurance?
The Hartford provides insurance for a variety of contractor types, including plumbers, electricians, painters, and carpenters. They offer a full range of business insurance policies, including general liability, commercial auto, workers’ compensation, and umbrella. They welcome new contractors. The Hartford. Find an agent.
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.
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 injury claims that arise during the course of a project.
In an attempt to justify talking about the Chicago Bulls on a construction blog, I’m going to pull some lessons out of the first couple of episodes from the series that contractors can apply to their own business. As Bulls owner Jerry Reinsdorf explained, why would you risk a career ending injury for short term gain?
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?
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.
He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. Unlimited liability for designers and contractors. Zahn is a licensed architect and attorney in the State of Illinois.
Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. Learn more: What types of insurance do contractors need? The policy covers all project parties, including the general contractor, subcontractors, sub-subcontractors, and the project owner.
But because of the inherent dangers on construction jobsites, contractors are under close scrutiny for compliance. OSHA averages more than 30,000 inspections annually , including many unscheduled visits arising from employee complaints or injuries. Top 10 OSHA violations by contractors. OSHA standards for construction.
This type of damage may leave electrical contractors unable to foot the bill. Why can an electrical contractor use insurance? Which types of policies are available to electrical contractors? General liability insurance : A GL policy may help cover the cost of bodily injury or property damage that occurs on a jobsite.
The two most common liability insurance policies for contractors are general liability and professional liability. General liability insurance protects businesses from claims of property damage or injury caused by their workers or incurred on their property. What are general liability and professional liability insurance?
General contractors know these risks when they take the role. But what if the general contractor isn’t at fault, and a subcontractor is to blame? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? The car owner can’t go after a different contractor’s insurer for the damage.
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