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CONTRACTORS Safety Programs – Key Elements Remaining competitive in the construction business means keeping jobsite accidents from pricing you out of the market due to your liability insurance and workers compensation insurance. Some basic precautions are listed for all construction projects. Contracts with your Subcontractors – The importance of details Subcontract agreements must contain several basic elements in order for losses to be transferred to the subcontractor that caused the damage or injury. The ability to enforce any contract clause depends on the precise wording, and all contracts should contain the basic elements. Understanding the importance of a certificate of insurance and the key elements is critical for all contractors. Adding this simple wording to your work orders or construction contracts allows losses to be passed to the property carrier insuring the risk. Construction and/or Customer Disputes Resolving customer disputes can be key to preventing a lawsuit. It is a rare construction project that cannot be attacked by a team of construction lawyers. In addition to an adequate subcontract agreement, it is important to pre-qualify any subcontractors you intend to use. Not all losses are covered by insurance policies. Your business structure is important to protect your assets. Indemnity and Additional Insureds – for subcontractors Agreeing to indemnity or name a general contractor as additional insured should not be done lightly. Understanding how signing these contracts could affect your insurance coverage and your policy limits is an important aspect to review before signing any contract. There are several steps
you can implement in order to deter or minimize the loss or damage to
equipment by thieves and vandals at job sites. |
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and Insurance Company, 2004