Combining hold harmless and indemnity agreements with insurance provides comprehensive financial security for your organization, with state regulations. Proper handling of claims not only helps in reducing costs but also supports a safer workplace environment.
Surety bonds are often required for public and private projects, serving as a guarantee that contractors will fulfill their obligations. Building your surety capacity involves strengthening financial, operational, and relational factors to increase your bonding limits and instill confidence in surety providers.
Effective management of workers’ compensation claims involves prompt investigation, thorough documentation, timely reporting, and active management.
By taking a proactive approach to cybersecurity and implementing the best practices outlined in this article, you can help protect your organization from a cyber attack and, if one occurs, minimize the impact on your business.
In the realm of construction and development, contract surety bonds are indispensable tools that ensure the successful completion of projects.
There have been significant changes applicable to New York State workers’ compensation in 2024. For the ninth consecutive year, an aggregate rate decrease is on the horizon.
On-site contractors also secured their own workers’ compensation insurance. According to the International Risk Management Institute, all these insurance coverages added about 6% to the total project cost. Often, project participants were confused about who had coverage or whose insurance would pay a claim.
If you’re an experienced roofer, you know insurance is key to managing your risk and protecting your business from property damage, liability claims and work-related accidents. You may even have been asked to submit proof of workers’ compensation, property and general liability insurance to obtain your license.
The solar industry is growing. The Department of Energy reports the number of photovoltaic (PV) installations increased by 44% year over year in the first half of 2023. That’s the fastest pace ever.
In the past, contractors didn’t need to be concerned about professional liability insurance. It was traditionally carried by architects, engineers and other design professionals for errors and omissions. But these days, construction companies must consider this coverage to complement their general liability insurance.
