3 min read

The Case For Financial Prequalification Of Contractors

By Bill Cerney on Jul 6, 2015 6:30:00 AM

The construction industry has done a good job of focusing on safety and quality. This mindset has been driven down to the smallest of contractors. They know safety and quality not only impact what work they can secure and for which owners and contractors they can work, but it also drives the cost of their insurance program. Prequalifying contractors based on their safety experience and program is the norm.

The prequalification process, however, should not be limited to safety. Financial prequalification should receive adequate attention as well.

Topics: Risk Management Construction
2 min read

Why You Should Be Concerned With Certificate Of Insurance Tracking

By Gibson on Jun 15, 2015 6:30:00 AM

In the construction industry, it seems you are either asking someone to sign a contract or being asked to sign a contract daily. With so many contracts, and the complexity involved, it can often be difficult to accurately assess your risk exposures. Yet oversights and mistakes in this process can be extremely costly.

Topics: Risk Management Construction Contract Review
3 min read

Scaffold Safety In Construction

By Gibson on Mar 23, 2015 6:30:00 AM

According to OSHA, approximately 2.3 million construction workers frequently work on scaffolds. Scaffold-related accidents cause about 4,500 injuries and 50 deaths every year. They also result in $90 million in lost workdays. Taking steps to ensure compliance with the scaffolding standards could help employers protect workers and prevent significant costs.

Topics: Commercial Insurance Risk Management Construction Workers' Compensation
3 min read

Contractor’s Equipment: Strategies For Managing Risk

By Gibson on Feb 18, 2015 6:30:00 AM

Theft, fire, collision, upset, and overturn all threaten the equipment you depend on to deliver projects on time and within budget. Direct losses from contractor’s equipment are estimated to be over $1 billion annually. Even if just one piece of equipment is damaged or out of service, it can significantly impact your project’s timeline and cause productivity to suffer. What can you do to protect your equipment and control losses?

Topics: Commercial Insurance Risk Management Construction
3 min read

The Essential Elements Of Fall Protection For Construction

By Gibson on Feb 4, 2015 6:30:00 AM

Fall protection for the construction industry has topped the OSHA list of most frequently cited standards year after year. In fact, falls are the leading cause of death in the construction industry with 294 of the 796 fatalities in 2013 being attributed to falls. Yet these fatalities can be prevented. What can you do to protect your employees from fall hazards?

Topics: Commercial Insurance Risk Management Construction Workers' Compensation
4 min read

Combatting the Construction Labor Shortage

By Gibson on Jan 7, 2015 6:30:00 AM

The demand for construction is increasing across the nation. This is great news for an industry that was hit hard by the recession. But is there enough labor to meet the needs?

Topics: Risk Management Construction
2 min read

Finding The Right Fit: Personal Protective Equipment for Women

By Gibson on Dec 29, 2014 6:30:00 AM

Ill-fitting personal protecetive equipment (PPE) endangers your workers. Are you helping your employees find the right fit?

If PPE does not fit properly, it does not function as it should. It can therefore expose workers to health and safety risks. It can also negatively impact a worker’s ability to efficiently perform their job. If a worker’s gloves are too big they may put them at risk to getting a glove stuck in machinery or perhaps the loss of dexterity will prevent them from doing their job as well. Likewise, if their hard hat is constantly falling off as they look up, that not only endangers the worker’s head but slows them down as they keep putting the hat back on or use one hand to hold it. 

Topics: Commercial Insurance Risk Management Construction Claims Workers' Compensation
2 min read

Avoid Surprise Exposures By Making Time For Contract Reviews

By Gibson on Oct 29, 2014 6:30:00 AM

You would not sign a contract without reading it first. And this means a lot of reading if you are a contractor. So, how are you managing this review process? Do you understand all the implications a contract could have on the future of your business?

Most companies will say they review all contracts with the help of their attorney. This is the optimal path, but we need to throw a wrinkle in it. When was the last time you involved your insurance broker in that review process?

You trust your insurance broker to review a key contract you utilize every year: your insurance policy. They ensure your company’s risk is properly transferred to the insurance carrier using the most up-to-date coverages, endorsements and enhancements available in the market. But when it comes to reviewing and updating insurance requirements in a contract, the insurance broker is often left out of the picture. Now your attorney is forced to be the legal expert AND the insurance expert.

The modern contract review process involves a meeting between your attorney and insurance broker on an annual basis at a minimum. This collaboration helps ensure you are properly addressing all risks you face before you sign a contract.

Let’s look at some common scenarios in which this updated contract review process could have prevented significant losses.

Topics: Commercial Insurance Risk Management Construction Contract Review
3 min read

Culture As An Emerging Risk

By Gibson on Oct 7, 2014 8:40:00 AM

Employee Engagement. Company Culture. Establishing a positive company culture matters. A company’s culture can be an incredible asset…but if not given the proper attention, it can become your greatest risk.

Culture is the values, beliefs, and the norms of a company. It’s not your policies and procedures; it’s the way you do things. It has many facets. Safety, employee wellness, employee wellbeing, and even the overall organizational health. And in order to establish a positive culture, you must engage your company leaders AND your employees.

Topics: Commercial Insurance Risk Management ESOP Executive Construction Claims Employee Benefits Health Risk Management Personal Insurance & Risk Management Workers' Compensation
3 min read

Getting A Grip On Hand Protection

By Gibson on Sep 24, 2014 6:30:00 AM

According to the U.S. Bureau of Labor Statistics, approximately 250,000 serious injuries occur each year to hands, fingers, and wrists. About 8,000 of these result in amputations. A worker’s hands are so incredibly critical not only to their career, but also their personal lives. Action can be taken to help minimize the hazards to hands, especially through the use of equipment safety mechanisms, personal protective equipment (PPE), and proper training.

Topics: Commercial Insurance Risk Management Construction Claims Health Risk Management Workers' Compensation