Insurance

2018 Insurance Market Outlook

by Patrick Casinelli | Apr 2, 2018
Insurance | Risk | Risk Management

Once premiums for property, general liability, auto, workers’ compensation, employee benefits, life insurance and other lines of coverage are added up, it can often total 5 percent or more of a firm’s total revenue—and that is only the direct costs.

Five Ways Contractors Can Lower Workers’ Compensation Costs

Lowering workers' comp rates can be as simple as five simple recordkeeping and paperwork reporting procedures.

Preparing for a Risk Management Review

by Phil Casto | Mar 28, 2018
Insurance | Risk | Risk Management | Safety

Don’t fear a risk management review. While insurers want to be certain a contractor is taking actions to prevent injuries and property damage, there are steps contractors can take for a successful review.

Do What Matters to Avoid the Cumulative Damage of Experience Modification

Keep an experience mod rate low with prevention through a company-wide safety culture and claims management and close workplace injury claims as soon as possible.

Construction Technology and Software Rundown: March 16, 2018

by Construction Executive | Mar 13, 2018
Drones / UAV’s | Fleet Management | Insurance | Technology

Here’s the rundown on new technology for equipment/fleet maintenance and tracking, liability insurance for iot and drones, and VR project walkthroughs.

Protect Against Design Errors With Owners Protective Professional Indemnity Coverage

by Joseph Nawa | Feb 28, 2018
Insurance | Risk | Risk Management

Owners Protective Professional (OPP) is an option for filling coverage gaps and protecting both owners and the contractors they hire from the costly consequences resulting from design and construction problems.

When It Comes to Mechanic’s Lien Claims, Pay Now or Pay Big Later

by David M. Henry | Feb 1, 2018
Contracts | Insurance | Legal and Regulatory | Risk

“You get what you pay for” is a popular warning sign suggesting that you cannot buy the quality needed without paying the price necessary to ensure top-notch service. Construction trade services should carefully heed this advice if they decide to engage a lay lien service to protect their mechanic’s lien and payment bond claims on a construction project.

Impact of Experience Modification Ratings on Contractors

by Jose Suarez | Jan 30, 2018
Business | Business Development | Insurance | Risk

In some states, the holy grail of experience mods is 1.00 or less. If the mod is higher, talk to the insurance broker to identify factors other than losses that may be driving up the rate.

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CONSTRUCTION EXECUTIVE

2018 Insurance Market Outlook

Five Ways Contractors Can Lower Workers’ Compensation Costs

Preparing for a Risk Management Review

Do What Matters to Avoid the Cumulative Damage of Experience Modification

Construction Technology and Software Rundown: March 16, 2018

Protect Against Design Errors With Owners Protective Professional Indemnity Coverage

When It Comes to Mechanic’s Lien Claims, Pay Now or Pay Big Later

Impact of Experience Modification Ratings on Contractors

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