Many contractors & companies mistakenly believe that they only need to worry about risk management after an incident, but the truth is you can start saving now by implementing safety and risk evaluation programs & policies. Even the most forward-thinking companies experience losses, so it’s important to be ready with jobspecific risk management programs and response plans. The team at …
6 Ways to Minimize Business Interruptions Business interruptions can occur after an anticipated or unanticipated event that delays or disrupts a business’s normal operations. Natural disasters, fires, cyberattacks or the loss of a critical supplier can halt operations for an extended period of time, leading to a cash-flow imbalance that could force a business to close for good. Here are …
Protecting Workers From Concrete Hazards Concrete is a common material utilized across many construction sites, particularly as it pertains to foundation work. With this in mind, concrete hazards are a key concern within the sector. Such hazards may include respiratory issues caused by concrete dust, slips and falls on wet concrete, skin and eye irritation due to concrete spills or …
The Occupational Safety and Health Administration (OSHA) keeps records not only of the most frequently cited standards overall, but also within particular industries. The most recent statistics from OSHA reveal the top standards cited in the fiscal year 201X for the construction industry. This top 10 list comprises establishments engaged in the construction of buildings or engineering projects (e.g., highways …
Nowadays, most of our insurance carrier partners are all looking for similar things when it comes to evaluating and pricing different businesses to insure. We are here to share some of tips of the trade with you that can help keep your insurance premiums as low as possible, make sure your beloved business continues to run smoothly, and properly protect …
A Challenging, But Stable Market The past few years have been challenging for both businesses and the insurance industry. After years of stability, a confluence of factors have led insurance companies to reevaluate their positions in the market. The increased frequency and severity of claims, social inflation, the COVID-19 pandemic, medical inflation, trends in cybercrime, the cost of reinsurance, natural …
Ways to Minimize Subcontractor Default Risks Construction projects typically involve contractors enlisting the help of subcontractors to conduct specialized tasks on-site (e.g., electrical, plumbing and ventilation work). While working with these professionals can allow projects to be completed more efficiently, the use of subcontractors also carries various exposures. Namely, subcontractors may default, thus failing to perform their assigned duties. Defaulting …
When a company experiences significant increases in workers’ compensation costs, it usually triggers internal activities aimed at reducing insurance costs and spending. The key to spending fewer dollars is more than just stopping a few accidents; it is having a sound safety program designed to continuously improve. This is where a safety program that, at a minimum, is compliant with …
