Construction Firm Tips for Avoiding Insurance Disasters

When you’re in the construction industry you already have lots to worry about: Keeping your workers safe in one of the most dangerous industries, uninsured or underinsured subcontractors, and finding experienced employees from a shrinking pool of talent. Not only that, but lawsuits lurk in any project, exposing you to serious losses that can threaten

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Control Workers’ Comp Costs by Lowering Your Experience Modifier

If you are looking for ways to keep your workers’ compensation insurance costs under control, it’s a good idea to take a look at your experience modifier. In fact, tackling your experience modifier is generally a far more effective method of lowering your costs than shopping around for cheaper workers’ compensation coverage. That’s because the

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The High Cost of Not Having Life Insurance

Life insurance premiums aren’t cheap — but the cost of not having life insurance can be devastating for your loved ones. Too many families and small business owners overlook the foundational financial planning step of getting sufficient life insurance protection in place. According to LIMRA, about 48% of U.S. families are significantly underinsured, and about

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Understand The Hold Harmless Agreement Before Signing

Most construction contracts have hold harmless agreements, which are also known as indemnity agreements. In such contracts, the indemnitor agrees to cover any damages assessed to the indemnitee for injury or property damage liability. There are three different forms of indemnity agreements, and each one has different insurance implications. Intermediate Form In this type of

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Protecting Your Firm as an Additional Insured

In the course of doing business, you may sometimes find yourself entering into contracts requiring that your business be named as an additional insured on another party’s insurance policies. This is often done to make sure that your own insurance is not depleted by defense and indemnification costs for losses for which you may be

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Delays, Higher Insurance Costs Burden Owners, Contractors

Increasing construction project delays are combining with a hardening market for builder’s risk and contractor liability insurance to create headaches for project owners and contractors. If your project suffers from delays, you may find it difficult or costly to extend the length of your insurance coverage as insurers have tightened their underwriting policies and some

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