Who is Representing You in the Marketplace and Why It Matters
With property/casualty insurance being such a major cost factor for construction companies, it’s important to understand how the marketplace works. How do carriers view you as a potential client? What is the role of your broker? What should you look for when evaluating who will represent you? Here is a behind-the-scenes look. The realities of …
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Where are the Holes in Your Construction Insurance?
For the majority of construction companies, Workers Compensation, General Liability, Commercial Auto, and Umbrella Liability insurance policies are a must. Many contractors also carry commercial property policies to protect their computers, furniture, and valuable documents. But that can still leave major gaps in protection that could bring business to a halt, stymie growth and leave …
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Reducing Auto Claims for Business
Vehicle-related crashes are the leading cause of work-related deaths. In addition to the potential for loss of life, work-related automobile accidents expose businesses to liability risks, legal expenses, lost time, decreased productivity, and increased insurance and workers’ compensation rates. Whether your business leases a single passenger car or owns an entire fleet of commercial vehicles, …
How Young Professionals Can Position Themselves for Success
GBCA’s Construction Leadership Council (CLC) is a group of young construction professionals committed to education, networking, and service. MRG Producer Ray Prince has served on its steering committee since 2020. We talked to Ray about the importance of volunteerism and about what it takes to gain recognition and connections. Q: First a little about you. …
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Controlled Insurance Programs Streamline Risk Management
Controlled Insurance Programs (also known as CIPs or Wrap-up insurance) are growing in popularity because they allow owners or general contractors to control and protect their business and/or project under one policy in which every subcontractor enrolls. The advantage: a uniform safety program for a safer construction site and less finger-pointing among subcontractors if an …
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Cyber Liability Insurance: Protection from Invisible Threats
Why should your company have a Cyber Liability policy? After all, the construction industry has traditionally dealt in brick and mortar not data. That’s changing with advancements in technology and hackers are taking note. It’s no surprise that half of construction executives believe their company will be the victim of a cyberattack at some point. …
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Professional Liability Insurance Provides Protection and Peace of Mind
Mistakes can happen. For contractors offering design-build or construction management services, Professional Liability insurance can cover economic losses and the costs of repairs. While Commercial General Liability insurance covers financial losses due to bodily injury or property damage, Professional Liability insurance ordinarily protects construction companies for design mistakes, and errors and omissions. For example, maybe …
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