2018 Executive Insights: Insurance and Bonding
Six industry experts offer insight on insurance and bonding best practices.
Natural Disasters’ Impact on the Construction Insurance Industry
2017 was the most expensive year on record for natural disasters in the United States—with hurricanes, wildfires and other events resulting in an unprecedented $306 billion in total damage, according to the National Oceanic and Atmospheric Administration.
BOP Endorsements: Customize Coverage Options to Protect All Your Assets
When it comes to protecting today’s construction businesses, executives must make sure necessary insurance coverage is in place and communicated to clients or other required parties—a responsibility that should not take any longer than necessary.
When Engineering Design Fails: The Impact of Faulty Design and Collapses
Faulty material choices and fast-tracked construction practices continue to combine with workmanship, design and engineering issues to produce an increasing number of design and building errors.
2018 Insurance Market Outlook
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
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.
