Keeping Your Business Financially Healthy
Keeping your business financially healthy is essential to ensuring long-term success and preventing it from failing. Small business owners need strong organizational skills and must adequately manage their finances. Good recordkeeping and planning could help you avoid money management problems that hinder healthy development. How to Ensure Your Business Stays Financially Healthy Staying cash positive […]
Insurance Certificate: Primary and Non-contributory Wording
Construction contracts often require a subcontractor’s general liability insurance policy to name the owner or general contractor as an additional insured on a “primary and noncontributory” basis. This seemingly simple requirement can cause a lot of difficulty and may hamper the sub’s ability to start the project. The International Risk Management Institute (IRMI) recommends that […]
What is Electronic Data Protection Insurance?
What Does Electronic Data Loss Insurance Cover? 1. Lost or damaged electronic data EDP coverage as it is commonly known provides insurance to replace or restore your electronic data that is lost as a result of a covered claim. For example, if a fire to your building destroys your computers, then your standard property policy […]
Insuring Property Stored at Other Premises
Did you know that property stored somewhere other than at your office premises may not be covered by your property insurance policy? Be sure to keep your insurance broker advised if you move property. There are other situations which should also trigger a call to insurance provider: Warehousing Demo equipment at a client’s site (and […]
Workers Compensation and Fall Protection
One of the most frequent workers compensation claims associated with contractors is falls. Employees falling off of ladders, scaffolding, or even roofs is a serious issue and a single claim can dramatically affect your insurance premiums. Every company should have a Fall Protection Plan that addresses the use of conventional fall protection at a number […]
5 Common General Liability Exclusions for Contractors
In most instances, the following claims are excluded on the general liability policy for contractors: Damage to your property. Employee injuries. Employment disputes. Damage to your vehicles. Professional mistakes. 1. Damage to Your Property Your employees are working late to finish a project, and a storm begins to brew outside. As they try and hurry […]
Is there insurance coverage available for tools?
Commercial Property Insurance is one of the building blocks of your business protection plan, especially if you work in an industry that has specialty equipment, product inventory, or valuable items (such as computers, electronics, and media devices). And if you own your commercial premises, you have even more incentive to protect your investment with adequate coverage. […]
Savings Tips for Property Insurance
Commercial Property Insurance is one of the building blocks of your business protection plan, especially if you work in an industry that has specialty equipment, product inventory, or valuable items (such as computers, electronics, and media devices). And if you own your commercial premises, you have even more incentive to protect your investment with adequate coverage. […]
How to protect your company from employee litigation.
Employee Litigation As employee-related litigation continues to rise, we thought it would be a good idea to show your contracting company where the litigation is coming from and what you can do to prevent it. In this post, we want to break down employee-related lawsuit statistics and show you just how big of a problem […]
Why knowing what your building is made out of can save you thousands on insurance.
During the insurance application process, your insurance agent will typically ask you what type of construction the building you own or lease is made out of. If you own your building, you will typically know the information off the top of your head. However, if you are leasing this question can be a little more difficult. This […]