When it comes to general liability insurance for contractors, it’s important to grasp how your coverage is determined and the potential impact on your premiums. Generally, your liability coverage is based on your gross sales or gross receipts as a…

Risk management plays a vital role in minimizing claims and reducing financial loss for construction companies. By conducting assessments and analyses of workers’ compensation and general liability insurance, businesses can proactively address potential risks. This approach not only minimizes the…

Have you ever wondered if it’s a good idea to cancel your insurance policy early? This question has frequently been raised in my office, prompting me to delve into the matter. Let’s examine the advantages and drawbacks of canceling your…

Working with multiple insurance brokers for various policies can be overwhelming for businesses, especially those in the construction industry. It’s vital to ensure that your business has comprehensive coverage for all potential risks, and working with multiple brokers can make…

Bid bonds are important for contractors to be able to bid on public work projects. Bid bonds time and time again, when I talk to folks about bid bonds or contractors about bid bonds, it’s number one; the biggest thing…

Over the years, as I’ve been doing this work, I have seen plenty of times when a contractor decides to self-insure. If an issue arises, usually around $5,000 or less, they’ll try to pay it out and handle it themselves.…

I often get this question with the additional insureds certificates and what they mean and what they are. The biggest one I want to discuss is the Waiver of Subrogation, primarily with workers’ comp. A Waiver of Subrogation means the…

Worker’s comp analysis is where we take your loss runs, take your worksheets from the state, and put them together to ensure that the experience modification is accurate. There have been many times when claims are going on with your…

Claims management is a process in which we look at a contractor’s company that is probably at a certain size and will receive claims. We know that at a certain level, you want to reach first-in-class insurance and have first-in-class…

Understand Hold Harmless Agreement First, your insurance company needs a contract stating that you have requirements for insurance that subs have to hold when working for you. One would be ensuring they have a Hold Harmless Agreement inside their agreement…