Month: November 2017

In the construction industry risk is inherent. Those able to assess and mitigate risk increase their chances for success. On the job site safety is an attitude. The right methods, equipment, and crew can help keep sites and people safe. For those behind the scenes, the risks are met with comprehensive construction insurance protection. Construction projects take all shapes and forms. Protection tailored for each project will offer maximum coverage for the best rates, helping improve the bottom line.

Projects large and small tend to include third-party contractors for some portion of completion. Landscape architects, HVAC professionals, and other design professionals may be contracted to perform a portion of construction. Add layers of protection to design and builder contracts with the right insurance protection. Tailored policies include coverage for job-specific risks. The strongest contracts include professional liability, auto and commercial liability, and employer’s liability; also referred to as workers’ compensation. As the builder, it’s reasonable to ask for this upon entering into agreements. For added coverage, homeowners and builders may wish to ask for pollution insurance as well.

Experts recommend including insurance protection as part of contracts with those performing the work as well. The subcontractors working on the construction site should be licensed and bonded. It is also recommended they carry personal liability insurance and workers’ compensation protection. Depending on the contract excess and professional liability may prove smart additions to a policy. For larger projects, builders and lenders can add owner’s protective professional insurance to a policy. This addition covers gaps in coverage from those contracted.

Liability insurance protects builders, lenders, and design professionals in 3 different ways:

• Protection from claims against the company or staff
• Coverage for damages caused by the company or staff
• Assistance with unexpected expenses during claims

A construction project can involve many people over the course of completion and may last longer than expected. The chances the unexpected can occur are high; ask an agent about professional liability insurance.

Builders Risk Insurance Protection

The protection from liability insurance extends to staff and damages caused during construction. This leaves a gap in protection for the physical structure. For home construction projects homeowners can opt for construction insurance for active projects yet these carry significant limitations. For extra protection builders-risk insurance offers advantages for all parties. A single policy is sufficient and may be purchased by either the homeowner or contractor. The following details may help determine which party might procure builders risk insurance for the project:

• Location of the project
• Lender insurance requirements
• Type of construction project

Some contractors may automatically carry builders risk. For more information on builders-risk policies and insurance protection contact an agent.

Protect Investments

Liability and builders-risk insurance create a safety-net for construction projects from start to finish. Construction insurance has advantages for homeowners, builders, and contractors. For extra protection and to cover project-specific requirements, additional insurance policies are available. Speak to an agent to create a complete shield of insurance protection for construction projects.

For more information on insurance for construction projects, home builds, building renovations and more call an agent today. Get affordable coverage and gain peace of mind. Our team is happy to answer questions.

Construction builders will want to hear this: OSHA’s Directorate of Enforcement Programs is getting serious about the silica standard. In a recent memo, acting director Patrick J. Kapust says that as of October 2017, OSHA is going to enforce all the provisions of the silica standard. This can be challenging for some companies, as compliance and insurance costs can change.

The new standard creates guidelines for construction companies. Under the OSHA standard, exposure limits of 50 µg/m3 and an action level of 25 µg/m3 are the maximum allowable in an eight-hour period. This standard has been in place since September, allowing companies to conform to the new standard prior to official OSHA enforcement.

This memo is the interim directive while the final regulation language passes through the formal review process. Once the regulation is finalized it will replace this and any other related OSHA memos. Agents in the field will operate off the most-recently issued directive.

Several options for protecting against silica inhalation are available. Particle catchers, exhaust systems, and personal respirators all help protect employee respiratory health. This helps employees lead happy and healthy lives, and also reduces company insurance risk.

For more information on OSHA compliance for silica and other safety regulations, contact the Occupational Safety and Health Administration at 1-800-321-OSHA. Industry regulations affect insurance premiums and requirements. For more information on how OSHA rulings affect construction companies contact an agent today. For insurance quotes, questions about coverage, or any other insurance matters call an agent anytime.